Which sector involves direct use of natural resources like farming and mining?

Primary sector

True or False: The tertiary sector produces goods rather than services.

False. The tertiary sector generates services rather than goods and is also known as the service sector.

What does GDP stand for?

Gross Domestic Product

The _____ sector contributes 56% to India's economy.

Services

Which sector transforms natural products into other forms through manufacturing?
A) Primary
B) Secondary
C) Tertiary
D) Quaternary

B) Secondary

What percentage does agriculture contribute to India's economy?

18%

Riddle: I turn cotton into cloth and sugarcane into sugar. What sector am I?

Secondary sector

True or False: The primary sector is also known as the agriculture and related sector.

True

Which sector includes banking, transport, and communication services?

Tertiary sector

In 2013-14, which sector overtook the primary sector as India's largest producing sector?

Tertiary sector

What is the full form of MGNREGA?
A) Mahatma Gandhi National Rural Employment Guarantee Act
B) Mahatma Gandhi National Rural Education Guarantee Act
C) National Rural Employment Guarantee Act
D) Rural Employment Generation Act

A) Mahatma Gandhi National Rural Employment Guarantee Act

How many work days does MGNREGA guarantee to rural households annually?

At least 100 work days

True or False: Disguised unemployment affects overall economic output significantly.

False. Disguised unemployment does not affect overall output as productivity remains low with too many people for available jobs.

The _____ sector still employs the most people in India despite economic changes.

Primary

Which sector has fixed working hours, regular salary, and job security?
A) Unorganized
B) Organized
C) Primary
D) Agricultural

B) Organized

What characterizes workers in the unorganized sector regarding job security and benefits?

They lack job security, receive no additional benefits, and can be dismissed anytime.

True or False: Public sector activities focus primarily on profit-making rather than public welfare.

False. Public sector focuses on public welfare, not just profit, and is funded through taxes.

Which companies represent the private sector?
A) Railways and Post offices
B) TISCO and Reliance Industries
C) Government hospitals
D) Public schools

B) TISCO and Reliance Industries

What happens to agricultural production when underemployed workers leave farming for other jobs?

Production remains unaffected while family income increases through alternative employment opportunities.

The government started reporting _____ instead of GDP to align with global standards.

Gross Value Added (GVA)

True or False: Small and marginal farmers constitute approximately 80% of rural households in India.

True

Why has the tertiary sector become increasingly important in India's economy over recent decades?

Rising incomes, expansion of IT services, and increased demand for healthcare, education, and luxury services.