The starting of land reforms programmes was set up in the right direction but it could not be successful because of:

1. Lack of political will.
2. Malafide transfers.
3. Inadequate proof of tenancy.
4. All of the above.

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

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

What is meant by GDP?

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.

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.

Who is the chairperson of the Planning Commission?

1. Prime Minister
2. President
3. Chief Minister
4.  Governor

The common goals of the five year plans are:

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

Under which economy, the goods are distributed among people on the basis of demand and not on what people need?

1. Capitalist economy.
2. Socialist economy.
3. Mixed economy.
4. Dual economy.

The Indian Policy Resolution, 1956 classified industries into...... categories.

1. One.
2. Two.
3. Three.
4. Four.

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.

When was the ‘Village and Small Scale Industries Committee' set up?

1. 1955
2. 1958
3. 1949
4. 1950.