Sectors Of The Indian Economy - Olympiad Level MCQ, Class 10 SST - Class 10 MCQ

To determine the share of the tertiary sector in GDP in 2003, we need to know the percentage range in which it falls. Based on the given options, the correct answer is option C, which states that the share of the tertiary sector was between 50 to 60%.
Here is the reasoning behind this answer:
1. Understanding the Tertiary Sector: The tertiary sector, also known as the service sector, includes activities such as banking, retail, education, healthcare, transportation, etc. These services contribute to the overall GDP of a country.
2. GDP Composition: GDP is the total value of goods and services produced within a country in a specific time period. It is composed of three sectors - primary, secondary, and tertiary.
3. Primary and Secondary Sectors: The primary sector includes activities related to natural resources, such as agriculture, mining, and fishing. The secondary sector involves manufacturing and construction.
4. Tertiary Sector's Importance: Over time, as economies develop, the share of the tertiary sector tends to increase. This is because services become more prevalent and important in the overall economy.
5. Tertiary Sector's Growing Share: By 2003, many countries had already experienced significant economic development, resulting in a larger share of the tertiary sector in their GDP.
6. Answer Justification: Option C, stating that the share of the tertiary sector in 2003 was between 50 to 60%, aligns with the trend of increasing importance of the service sector in developed economies.
In conclusion, the share of the tertiary sector in GDP in 2003 was between 50 to 60%, as indicated by option C.

Feature of the Unorganised Sector:

Unorganised sector refers to the segment of the economy where enterprises and workers operate outside the purview of formal rules and regulations. The feature of the unorganised sector is:

• Employment is not secure: In the unorganised sector, workers do not enjoy job security. They often work on a temporary or informal basis, without any formal employment contracts.

Unlike the organised sector, where workers have access to several benefits and protections, the unorganised sector lacks such provisions. Workers in the unorganised sector are vulnerable to exploitation, low wages, and poor working conditions.

It is important to note that the other options mentioned in the question are not applicable to the unorganised sector:

• Rules and regulations are followed: The unorganised sector operates outside the formal rules and regulations, making it less regulated and subject to compliance.


• Workers enjoy security of employment: As mentioned earlier, employment in the unorganised sector is not secure, and workers often face uncertainty regarding their jobs.


• It follows some formal processes and procedures: The unorganised sector is characterized by its informality, where formal processes and procedures are not typically followed.

Therefore, the correct answer is option C: Employment is not secure.

The largest producing sector in 1973 was the Primary sector.

Explanation:

To determine the largest producing sector in 1973, we need to understand the three main sectors of the economy:
1. Primary sector: This sector involves the extraction of raw materials from nature, such as agriculture, mining, fishing, and forestry.
2. Secondary sector: This sector includes the processing and manufacturing of raw materials into finished products, such as factories and industries.
3. Tertiary sector: This sector involves providing services to consumers and businesses, such as transportation, banking, education, healthcare, and retail.
In 1973, the primary sector was the largest producing sector. This can be attributed to several factors:
- During that time, many countries heavily relied on agriculture and natural resource extraction as their main source of economic growth.
- Industrialization was not yet as advanced, so the secondary sector was not as dominant as it is in modern economies.
- The tertiary sector, although important, did not have the same level of development and contribution to the economy as it does today.
Therefore, based on the economic conditions in 1973, the primary sector was the largest producing sector.

The money value of all final goods and services produced within a country during a particular year is called Gross Domestic Product (GDP).

The options provided are as follows:
A: Gross domestic product
B: Net domestic product
C: National product
D: Production of secondary sector
To explain why the correct answer is A: Gross domestic product, we can break down the options and provide more information:
Option A: Gross domestic product
- GDP is the total value of all final goods and services produced within a country's borders during a specific time period, usually a year.
- It includes goods and services produced by both domestic and foreign entities within the country.
- GDP is an important measure of economic activity and is used to analyze the overall health and growth of a country's economy.
Option B: Net domestic product
- Net domestic product (NDP) is a measure of economic output that takes into account depreciation or wear and tear on capital goods.
- NDP is calculated by subtracting depreciation from the gross domestic product.
- While NDP is a useful measure for assessing the sustainability of economic growth, it is not the correct answer in this context.
Option C: National product
- National product refers to the total value of goods and services produced by the residents of a country, regardless of where they are located.
- It includes both domestic production and production by nationals abroad.
- While related to GDP, national product is not the correct term for the specific context described in the question.
Option D: Production of secondary sector
- The secondary sector refers to the part of the economy that includes manufacturing, construction, and other industrial activities.
- While the production of the secondary sector contributes to GDP, it does not encompass the entirety of GDP.
Therefore, the correct answer to the question is A: Gross domestic product.

Answer:
To determine which country has the largest size of illiterate population in the world, we need to compare the literacy rates of different countries. The options provided are India, Japan, France, and Germany.
1. India:
India has a large population, and despite improvements in recent years, it still has a significant illiterate population.
2. Japan:
Japan has a high literacy rate and a well-developed education system, so it is unlikely to have the largest illiterate population.
3. France:
France also has a high literacy rate and a strong education system, making it unlikely to have the largest illiterate population.
4. Germany:
Germany is known for its high literacy rate and quality education system, so it is unlikely to have the largest illiterate population.
Considering the options provided, India is the most likely country with the largest size of illiterate population in the world due to its large population size and ongoing challenges in improving literacy rates.

Answer:
The correct answer is option C: A ministry of the Union Government.
The agency responsible for estimating the Gross Domestic Product (GDP) in India is a ministry of the Union Government.
Here are some key points to support this answer:
- The estimation of GDP in India is carried out by the Central Statistical Organization (CSO), which is a part of the Ministry of Statistics and Programme Implementation.
- CSO is an autonomous body that operates under the administrative control of the Ministry of Statistics and Programme Implementation.
- CSO collects data from various sources, including government departments, state governments, and other agencies, to calculate and estimate the GDP of India.
- The estimation of GDP involves a comprehensive analysis of various economic factors, including production, consumption, investment, and government spending.
- The estimation process includes both the use of primary data collected through surveys and the use of secondary data from other sources.
- The estimation of GDP is crucial for assessing the overall economic performance and growth of the country, as well as for formulating policies and making informed decisions.
Therefore, it is clear that a ministry of the Union Government is responsible for estimating the Gross Domestic Product (GDP) in India.

Primary Sector and Its Economic Activities

The primary sector is the sector of the economy that involves the extraction and harvesting of natural resources. It includes activities such as agriculture, fishing, mining, and forestry. These activities are directly dependent on the environment and are considered the foundation of all other economic sectors.

Economic Activities in the Primary Sector

• Fishing: Fishing involves catching fish and other aquatic organisms from rivers, lakes, and oceans.


• Farming: Farming includes the cultivation of crops, rearing of livestock, and production of agricultural products.


• Mining: Mining involves extracting minerals, metals, and other valuable resources from the earth's crust.

Economic Activity Not in the Primary Sector

Banking: Banking is a service-oriented industry that falls under the tertiary sector. It involves the provision of financial services such as accepting deposits, lending money, and facilitating transactions.

Conclusion

In conclusion, banking is the economic activity that does not come under the primary sector. The primary sector consists of activities related to the extraction and harvesting of natural resources, while banking belongs to the tertiary sector, which focuses on providing services to the economy.

The classification of sectors into organized and unorganized sectors is based on:

A. The nature of economic activity:

- Organized sector: Includes activities that are regulated by the government and are governed by specific rules and regulations.
- Unorganized sector: Includes activities that are not regulated by the government and are not governed by specific rules and regulations.

B. Ownership of enterprises:

- Organized sector: Includes activities that are owned and operated by large-scale enterprises, corporations, or government bodies.
- Unorganized sector: Includes activities that are owned and operated by small-scale enterprises, individuals, or self-employed individuals.

C. Employment conditions:

- Organized sector: Provides formal employment with fixed working hours, regular wages, social security benefits, and other employment benefits.
- Unorganized sector: Provides informal employment with flexible working hours, irregular wages, limited or no social security benefits, and other employment benefits.

D. Number of workers employed in the enterprise:

- Organized sector: Generally has a larger number of workers employed in the enterprise.
- Unorganized sector: Generally has a smaller number of workers employed in the enterprise.
Based on the options given, the correct answer is C. Employment conditions as the basis for classifying sectors into organized and unorganized sectors.

The activity that is not part of the unorganised sector is:
C: A farmer irrigating his field
Explanation:
The unorganised sector refers to economic activities carried out by individuals or households that are not registered or regulated by the government. These activities are often characterized by low levels of organization, informal arrangements, and lack of social benefits.
Let's analyze the given options:
A: A teacher taking a class in Kendriya Vidyalaya
- This is an organized sector activity as it involves teaching in a government-run school.
B: A nurse working in a Government hospital
- This is also an organized sector activity as it involves working in a government hospital.
C: A farmer irrigating his field
- This is not an activity of the unorganised sector as farming can be both organized and unorganized. However, in this case, the activity of a farmer irrigating his field can be considered more of an individual or household activity rather than a part of the unorganised sector.
D: A clerk working in the post office
- This is an organized sector activity as it involves working in a post office.
Therefore, the correct answer is option C, a farmer irrigating his field, which is not an activity of the unorganised sector.

Statement: Government owns the assets.
Explanation:
The true statement in respect of the Public Sector is that the government owns the assets. Here is a detailed explanation:
Definition of Public Sector:
The Public Sector refers to the part of the economy that is owned and controlled by the government. It includes organizations and enterprises that are owned and operated by the government at various levels, such as central, state, and local government bodies.
Ownership of Assets:
In the Public Sector, the assets are owned by the government. This means that the government has legal ownership and control over the resources and properties that are utilized by public sector organizations. The assets can include land, buildings, infrastructure, equipment, and other tangible and intangible resources.
Role of Government:
The government's ownership of assets in the Public Sector is an essential aspect of its role in providing public goods and services. The government uses these assets to establish and operate various public sector organizations, such as schools, hospitals, transportation systems, utilities, and other essential services.
Benefits of Government Ownership:
There are several benefits of government ownership in the Public Sector. These include:
1. Accountability: As the government owns the assets, it is accountable to the public for their management and utilization. This ensures transparency and public scrutiny.
2. Social Welfare: Government ownership allows the resources to be utilized for the benefit of society as a whole. The government can prioritize the provision of essential services and address societal needs.
3. Regulation and Control: Government ownership enables the government to regulate and control the operations of public sector organizations. This ensures compliance with laws, regulations, and standards.
4. Long-term Planning: With ownership of assets, the government can engage in long-term planning and investment for the benefit of the country. This includes infrastructure development and strategic initiatives.
In conclusion, the true statement in respect of the Public Sector is that the government owns the assets. This ownership allows the government to fulfill its role in providing public goods and services, ensuring accountability, and promoting social welfare.

Primary Sector Activities
The primary sector includes activities that involve the extraction and harvesting of natural resources. These activities are essential in the production of raw materials which are used by other sectors. The primary sector activities include:
1. Milking: The process of extracting milk from animals, such as cows or goats, is a primary sector activity. It involves the collection of a natural resource (milk) directly from animals.
2. Fishing: Fishing is also a primary sector activity. It involves the catching of fish and other aquatic creatures from rivers, lakes, and oceans.
3. Making of sugar: This activity is not a primary sector activity. The making of sugar involves processing raw materials (such as sugarcane or sugar beets) to extract sugar. This process falls under the secondary sector, as it involves manufacturing and processing.
4. Farming: Farming is a primary sector activity that involves the cultivation of crops, raising livestock, and other agricultural activities. It includes the production of food and raw materials.
Therefore, the activity that is not a primary sector activity is the making of sugar.

Gross Domestic Product (GDP)
Gross Domestic Product (GDP) is a measure of the total value of goods and services produced within a country's borders during a specific time period. It is one of the most widely used indicators to assess the economic performance of a country. Here are some key points to understand GDP:
1. Definition: GDP represents the market value of all final goods and services produced by the factors of production (such as labor and capital) within a country's boundaries in a given period, usually a year.
2. Calculation: GDP can be calculated using three different approaches: the production approach, the income approach, and the expenditure approach. The production approach sums up the value added by each sector of the economy, while the income approach calculates the total income generated by production. The expenditure approach measures the total spending on goods and services within the economy.
3. Components: GDP consists of four main components:
- Consumption (C): This includes all spending by households on goods and services, such as food, housing, healthcare, and entertainment.
- Investment (I): This represents spending on capital goods, such as machinery, equipment, and construction, as well as changes in inventories.
- Government spending (G): This includes all spending by the government on goods, services, and infrastructure.
- Net exports (X - M): This accounts for the difference between exports (X) and imports (M). If a country exports more than it imports, it has a trade surplus, while a trade deficit occurs when imports exceed exports.
4. Importance: GDP is an essential measure for policymakers, economists, and investors as it provides insights into the overall health and growth of an economy. It helps in comparing the economic performance of different countries, tracking changes in living standards, and guiding policy decisions.
5. Limitations: While GDP is a useful tool, it has some limitations. It does not capture non-market activities like household production and volunteer work. It also does not account for income distribution, environmental impacts, and the quality of life indicators.
Overall, Gross Domestic Product (GDP) is a key indicator that reflects the economic activity and performance of a country. It provides valuable insights into the size, growth, and structure of an economy, helping policymakers make informed decisions and assess the well-being of the population.

Activities of Agriculture and Dairy Farming

• Agriculture and dairy farming are economic activities related to the production of food and other agricultural products.


• They involve the cultivation of crops, rearing of animals, and the processing and distribution of agricultural products.


• These activities are essential for providing food and raw materials for various industries.

Sectors of the Economy

• The economy is divided into three main sectors: primary, secondary, and tertiary.


• Each sector represents a different stage of the production and distribution process.

Classification of Agriculture and Dairy Farming

• Agriculture and dairy farming activities are classified under the primary sector of the economy.


• The primary sector includes activities that involve the extraction or production of natural resources.


• It encompasses activities such as farming, fishing, mining, and forestry.


• Agriculture and dairy farming are considered primary sector activities because they involve the cultivation of crops and rearing of animals, which are natural resources.

Therefore, the correct answer is Option A: Primary.

Answer:

The activity that does not fall in the tertiary sector is manufacturing.

Explanation:

• Banking: This activity involves providing financial services such as accepting deposits, granting loans, and facilitating payments. It falls under the tertiary sector as it is a service-based activity.


• Communication: This activity involves the transmission of information through various means such as telecommunication, internet services, and broadcasting. It is a service-based activity and falls under the tertiary sector.


• Manufacturing: This activity involves the production of goods by using raw materials and labor. It falls under the secondary sector as it involves the physical transformation of materials into finished products.


• Transport: This activity involves the movement of goods and people from one place to another. It is a service-based activity and falls under the tertiary sector.

Therefore, out of the given options, manufacturing is the activity that does not fall in the tertiary sector.

Disguised Employment

Disguised employment refers to a situation where individuals are employed but their productivity is low and they are not fully utilized in their jobs. It is also known as under-employment.

Options:

A: Over-employment: This term refers to a situation where there are more employees than required for a particular job. It is the opposite of disguised employment and not synonymous with it.

B: Factory employment: This term refers to the employment of individuals in factories. It is not synonymous with disguised employment.

C: Under-employment: This term is synonymous with disguised employment. It refers to a situation where individuals are employed but their skills are not fully utilized, resulting in low productivity.

D: Unemployment: This term refers to a situation where individuals are not employed and actively seeking work. It is not synonymous with disguised employment.

Correct Answer:

The correct answer is C: Under-employment, which is also known as disguised employment.

The primary sector includes activities that involve the extraction and production of raw materials. These activities are directly related to natural resources and are the foundation of all other economic sectors. In this question, we need to identify the activity that does not belong to the primary sector.
The options given are:
A: Agriculture
B: Dairy
C: Mining
D: Weaving
To determine the activity that does not belong to the primary sector, we need to understand the nature of each activity:
A: Agriculture - This involves the cultivation of crops, raising livestock, and producing food and other agricultural products. It is considered a primary sector activity.
B: Dairy - This involves the production of milk and dairy products from livestock, which can be considered a part of agriculture. It is also a primary sector activity.
C: Mining - This involves the extraction of minerals and other valuable resources from the earth. It is a primary sector activity.
D: Weaving - This activity involves the production of textiles by interlacing threads or yarns. Weaving is a manufacturing process that uses raw materials (such as cotton or wool) to create finished products (such as fabric or clothing). Therefore, it belongs to the secondary sector, not the primary sector.
Conclusion:
Based on the above analysis, the activity that does not belong to the primary sector is weaving (option D).

Explanation:

Organized sector: The organized sector refers to those sectors of the economy which are formally regulated, have fixed working hours, and provide benefits such as regular salary, leave, medical allowance, etc. Workers in the organized sector are typically employed by established companies or organizations.

Given options:

• A: She gets a regular salary at the end of the month: This is applicable for a worker in the organized sector as they receive a fixed salary at the end of each month.


• B: She is not paid for leave: This option is not applicable for a worker in the organized sector. Workers in the organized sector are entitled to paid leave as per the terms and conditions of their employment.


• C: She gets medical allowance: This is applicable for a worker in the organized sector as they often receive medical allowances or benefits for their healthcare needs.


• D: She got an appointment letter stating the terms and conditions of work when she joins work: This is applicable for a worker in the organized sector as they usually receive an appointment letter that outlines the terms and conditions of their employment.

Therefore, the option that is not applicable for a worker in the organized sector is B: She is not paid for leave.

The workers in the agricultural sector can be classified as underemployed. Here is a detailed explanation:
Underemployment in the Agricultural Sector:
- Underemployment refers to a situation where individuals are employed in jobs that are insufficient in terms of hours worked or income earned.
- In the agricultural sector, underemployment is a common issue. Many agricultural workers do not have access to full-time employment throughout the year.
- Factors contributing to underemployment in agriculture include seasonal variations in demand for labor, weather conditions, and fluctuations in crop cycles.
- Agricultural workers often face a lack of job security, as their employment is dependent on external factors such as weather and market conditions.
- Due to the nature of agricultural work, many workers may only be employed for specific periods, such as during planting or harvesting seasons.
- Additionally, agricultural workers may also face low wages and limited access to social security benefits.
Explanation of Other Options:
- Overemployed: This option is incorrect as overemployment refers to a situation where individuals work more hours than necessary or desired. In the agricultural sector, underemployment is more prevalent.
- Unemployed: This option is incorrect as unemployed individuals are those who are actively seeking work but are unable to find employment. Agricultural workers are employed, although their employment may be limited or insufficient.
- None of these: This option is incorrect as the correct answer is option A, underemployed.
To summarize, workers in the agricultural sector are considered underemployed due to factors such as seasonal variations, limited hours of work, and low job security.

Analysis:

In order to determine which Act would not apply to a company like TISCO, we need to understand the nature of TISCO's operations and the purpose of each Act listed.

A: Minimum Wages Act

The Minimum Wages Act ensures that employees are paid a minimum wage for their work. This Act would apply to TISCO as they employ workers who would be entitled to receive a minimum wage.

B: National Rural Employment Guarantee Act

The National Rural Employment Guarantee Act guarantees 100 days of employment per year to rural households. This Act is targeted towards rural employment and would not be applicable to a company like TISCO, which is an industrial company.

C: Factories Act

The Factories Act regulates the working conditions in factories, including safety measures, working hours, and welfare facilities. This Act would likely apply to TISCO as they operate factories where these regulations would be necessary.

D: Payment of Gratuity Act

The Payment of Gratuity Act mandates the payment of gratuity to employees who have completed at least five years of continuous service. This Act would apply to TISCO as they would have employees who are eligible for gratuity payments.

Conclusion:

Based on the analysis, the Act that would not apply to a company like TISCO is National Rural Employment Guarantee Act (B), as it is specifically targeted towards rural employment and not applicable to industrial companies like TISCO.

Motive of Public Sector Enterprises:

1. Social Welfare and Security:

• One of the main motives of public sector enterprises is to promote social welfare and security.


• These enterprises are established to provide essential goods and services to the general public.


• They aim to fulfill the basic needs of the society such as healthcare, education, transportation, communication, and infrastructure.


• They play a crucial role in bridging the gap between the rich and poor by providing equal access to services.

2. Public Interest:

• Public sector enterprises are driven by the motive to serve the public interest and meet the needs of the society.


• Their decisions and actions are guided by the welfare of the public rather than profit-making.


• They focus on providing affordable and accessible services to all sections of society.

3. Economic Stability:

• Public sector enterprises also contribute to the overall economic stability of the country.


• They generate employment opportunities and provide a steady source of income for individuals.


• These enterprises play a vital role in infrastructure development, which further stimulates economic growth.

4. Government Control:

• Public sector enterprises are owned and controlled by the government.


• The government utilizes these enterprises to implement its policies and achieve its objectives.


• They serve as instruments for the government to regulate and monitor various sectors of the economy.

5. Long-Term Perspective:

• Public sector enterprises operate with a long-term perspective.


• They focus on sustainable development and the well-being of future generations.


• They invest in research and development, innovation, and technology to improve efficiency and productivity.

Conclusion:

The motive of public sector enterprises is primarily driven by social welfare and security. They aim to provide essential goods and services to the public, promote public interest, contribute to economic stability, and serve as instruments for government control and regulation. These enterprises operate with a long-term perspective, focusing on sustainable development and the well-being of future generations.