Green revolution leads to marketable surplus. What does it refers to?

1. Production of crops for self-consumption.
2. Production of crops for selling in market.
3. Production of crops for maintaining sufficient stock.
4. All of the above.

Which of the following features is not associated with a socialist economy?

1. The economy has no private property and everything is owned by the state.
2. The government decides what to produce, how to produce and for whom to produce.
3. Incomes are equitably distributed.
4. It is called a free market economy.

.......... is an economy having elements of both capitalist and socialist economy.

1. Mixed economy.
2. Socialist economy.
3. Capitalist economy.
4. None of these.

When was planning initiated in India?

1. In 1951
2. In 1952
3. In 1950
4. In 1956

Self-reliance means avoiding:

1. Exports.
2. Imports.
3. Both (a) and (b).
4. None of the above.

Which economic system is based upon the market forces of demand and supply?

1. Capitalism.
2. Socialism.
3. Mixed.
4. Monarchy.

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.

Which of the following is not true for small scale industries?

1. SSI is labour intensive and therefore, employment oriented.
2. SSI needs small investment and is therefore, equity oriented.
3. SSI is capital intensive and therefore, increases productivity.
4. SSI shows locational flexibility and is therefore, equality oriented.

In the post-independence period, India adopted a ......... approach.

1. Socialist economy.
2. Mixed economy.
3. Capitalist economy.
4. None of these.

The common goals of the five year plans are:

1. Modernisation.
2. Growth.
3. Self-reliance.
4. All of the above.