Fill in the blank with correct alternative.
First Industrial Policy Resolution of Independent India was announced in the year ________.

1. 1947
2. 1948
3. 1951
4. 1956

What is meant by Per Capita Income?

1. It refers to total value of investment made in a year.
2. It is sum total of all final goods and services produced in an economy in a financial year.
3. It is national income divided by population.
4. It is foreign investment made in a year.

GDP (Gross Domestic Product) is a good indicator of growth but not development, because:

1. GDP is a partial measurement.
2. GDP do not cover all type of goods.
3. GPD may increase on account of production of harmful goods.
4. All of the above.

In which year was the Planning Commission was set up in India?

1. 1947
2. 1948
3. 1949
4. 1950

Diversification of growth process can be achieved through the development of:

1. Agricultural sector.
2. Industrial sector.
3. Foreign trade.
4. Service sector.

Strategic industries were under the control of _______ under IPR, 1956.

1. Public Sector.
2. Private Sector.
3. Joint Sector.
4. None of the above.

During the initial stages of planning, special concessions were given to the industries producing goods to be used as substitutes for imported goods. This strategy was named as:

1. Inward looking trade strategy.
2. Outward looking trade strategy.
3. Export promotion strategy.
4. None of the above.

Under which system the goods are distributed among people not on the basis of what people need but on the basis of purchasing power?

1. Capitalistic system.
2. Socialistic system.
3. Mixed system.
4. Dual system.

Capitalist structure was not adopted by Indian economy due to:

1. Less scope for improvement of quality of human life.
2. More democratic structure was needed.
3. There was a need to reduce role of public sector.
4. None of the above.

A good indicator of growth is steady increase in the:

1. Gross Domestic Product.
2. Net Domestic Product.
3. Population.
4. National Income.