Test: Sectors Of The Indian Economy - 3


10 Questions MCQ Test Economy Traditional for UPSC (Civil Services) Prelims | Test: Sectors Of The Indian Economy - 3


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QUESTION: 1

During the period between 1973 to2003, the production has increased most in the

Solution:

 The share of tertiary sector in employment (%) has also increased in last 30 years. In 1973, share was nearly 10 to 15% but it has increased from 20 to 22% in 2003. Though tertiary sector is not playing the role of providing employment over expectation, the primary sector continues to be the largest employer even in the year 2000. 

QUESTION: 2

India according to the World Bank classification falls in the category of

Solution:

According to World Bank reports India has been classified under lower-middle income economy. According to  IBTimes, it has got the same tag along with countries like Lesotho, Zambia, Honduras, Ghana, Guatemala and Djibouti. All the other countries in the BRICS — Brazil, Russia, China, South Africa — belong to upper-middle income group.

 

QUESTION: 3

What is meant by two-party system?​

Solution:

The correct option is C.

In politics, a two-party system is a party system in which two major political parties dominate the political landscape. At any point in time, one of the two parties typically holds a majority in the legislature and is usually referred to as the majority or governing party while the other is the minority or opposition party.

QUESTION: 4

NREGA 2005 guarantees work for how many days in a year

Solution:

Notified on September 7, 2005, MGNREGA aims at enhancing livelihood security by providing at least one hundred days of guaranteed wage employment in a financial year to every rural household whose adult members volunteer to do unskilled manual work.

QUESTION: 5

Which one of the following is a public sector enterprise ?

Solution:

1. Railways are cheap and very convenient mode of transport for long distances.
2. They help in transportation of finished goods or raw materials from one place to another. This helps in growth and development of our country.
3. Railway forms  a link between major cities of our country and travelling time has been reduced 
4. Railways are even capable of transporting bulky material like crude oil, coal etc  in large quantities.
5. Railway facilitates quick movement of troops, police, defence equipment etc.

QUESTION: 6

Which was the largest producing sector in 1973 ?

Solution:

It is involved with  agriculature and direct  use of natural resource. 
Examples : Farming,  apiculture, cattle farming, etc.

QUESTION: 7

On which of the following basis, the sectors are classified into public and private sector ?

Solution:

The public sector includes all the public services and enterprises. Public services include public goods and services like roads, water supply, transport, health, military etc. Public enterprises are state-owned that are under public ownership. Private sector includes enterprises that are owned by private people with the aim to gain profit. These are not owned and run by state or government. 

QUESTION: 8

In which one of the following sectors, the production of a commodity is mostly through the natural processes ?

Solution:

Primary sector of the economy is the sector that produces products through a natural process. It involves activities such as mining, crop production and animal husbandry. It involves lots of human labor used in the production of preparing the raw material before it goes into other sectors such as manufacturing for it to turn into consumable commodity.

QUESTION: 9

National Rural Employment Guarantee Act was implemented in which one of the following years ?

Solution:

National Rural Employment Guarantee Act, 2005. National Rural Employment Guarantee Act 2005 (or, NREGA No 42, later renamed as the "Mahatma Gandhi National Rural Employment Guarantee Act", MGNREGA), is an Indian labour law and social security measure that aims to guarantee the 'right to work'.

QUESTION: 10

Public enterprises are owned by:

Solution:

Public sector refers to government-owned organizations and government-provided services.

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