Economics: CUET Mock Test - 6 - Commerce MCQ

TISCO - Tata Iron and Steel Company Limited.

The year 1921 is taken as the demographic divide for the reason that before this year, the population was not stable, sometimes it increased and at other times it decreased.
The growth rate of population was generally low before 1921. But after this year, there has been considerable and continuous increase in the population.
Between 1901 and 1911, the total increase in population was 5.9% and between 1911 and 1921, there was a decrease of 0.39%. In the decade of 1921-1931, the increase was 11.1%, from 1931 to 1941, it was 14.00% and during 1941-1951, it was 13.5%. It is going increasingly since then. Hence the year 1921 is rightly called the demographic divide.

As much as half of the foreign trade was restricted to Britain. Before colonial period, India was exporting manufactured goods which enjoyed worldwide demand. Under the colonial rule, India was reduced to a supplier of raw materials like jute, cotton, indigo, wool, sugar etc.

Under British Rule, there were three main types of land tenure systems in India. They were Zamindars, Mahalwari and Rayatwari.

Jute Textile Industry is one of the major Industries in the Eastern India, particularly in West Bengal.

India’s per capita income during colonial period was estimated by some individual. Among the notable estimators — Dadabhai Naoroji, William Digby, Findlay Shirras.

Railways assisted British industries to widen the market for their finished products. 

Post and telegraphs were developed to enhance the efficiency and effectiveness of the British administration.

The three-sector is an economic theory which divides economies into three sectors of activity, manufacturing (secondary 10%), and services (tertiary 18%).

A systematic and modern population census, in its present form was conducted non synchronously between 1865 and 1872 in different parts of the country. This effort culminating in 1872 has been popularly labeled as the first population census of India However, the first synchronous census in India was held in 1881.

The life expectancy of birth in India on the eve of its independence was 32 years.

The Suez Canal is an artificial sea-level waterway in Egypt the Mediterranean Sea through the Red Sea via the Gulf of Suez. Construction began in September 1859 and was completed in November of 1869, 10 and a half years later. The Suez Canal is around 190 km in length.

The history of Indian Railways dates back to over 160 years ago. On 16 th April 1853, the first passenger train ran between Bori Bunder (Bombay) abd Thane, a distance of 34 km.

After independence, the Government of India appointed the National Income Committee in August, 1949 with Prof. P.C. Mahalnobis as its chairman and Prof. D.R. Gadgil and Dr. V.K.R.V. Rao as its two members so as to compile a national income estimates rationally on scientific basis. The first report of this committee was prepared in 1951. The estimate given by Dr Rao regarding per capita output was 0.005.

The Bengal Iron Works was founded at Kulti in Bengal in 1870 which began its production in 1874 followed by The Tata Iron and Steel Company (TISCO) was established by Dorabji Tata in 1907, as part of his father's conglomerate. By 1939 it operated the largest steel plant in the British Empire. The company launched a major modernization and expansion program in 1951.
Prime Minister Jawaharlal Nehru, a believer in socialism, decided that the technological revolution in India needed maximization of steel production. He, therefore, formed a government owned company, Hindustan Steel Limited (HSL) and set up three steel plants in the 1950s.

The cotton textile mills, mainly dominated by Indians, were located in the western parts of the country, namely, Maharashtra and Gujarat, while the jute mills dominated by the foreigners were mainly concentrated in Bengal.

GNP means gross national product. it is clear that it is on national level and a nation's resident should be included only. A another word is GDP it is gross domestic product. It includes every Product that has been made in our country it does not matter that who has made it resident or non resident.

The growth of the aggregate real output (GDP) was less than 2% during the first half of the 20th century and growth of per capita income was just 0.5%.

Low productivity in agriculture is due to low level of technology. In India farm farmers are still using poor and old agriculture technology of farming. in some areas farmer still do agriculture for survival

The gross domestic product (GDP) is one of the primary indicators used to gauge the health of a country's economy. It represents the total dollar value of all goods and services produced over a specific time period, often referred to as the size of the economy.

Tata Iron and Steel Company was founded  and established on 26 August 1907.

The use of fertilizers was negligible. It also added up to aggravate the plight of the farmers.

Dadabhai Naoroji, William Digby, Findlay Shirras, V.K.R.V. Rao and R.C. Desai are the economists who estimated India’s national income and per capita income during the colonial period. Among these estimations, Rao’s estimates were considered more significant.

India's economy under British rule remained primarily agrarian - around 85% country's population lived in villages and derived livelihood directly or indirectly through agriculture.

Agriculture, with its allied sectors, is the largest source of livelihoods in India. 70 percent of its rural households still depend primarily on agriculture for their livelihood, with 82 percent of farmers being small and marginal. In 2017-18, total food grain production was estimated at 275 million tonnes (MT).

Capital goods industry means industries which can produce machine, tools etc. which are, in turn, used for producing articles for current consumption.

Gross Domestic Product (GDP) is the broadest quantitative measure of a nation's total economic activity. More specifically, GDP represents the monetary value of all goods and services produced within a nation's geographic borders over a specified period of time.

Railways industries which were under the public sector during the colonial period.