Indian Economy 1950-1990 — Economics STD 12 Commerce — Question

What are the features of a capitalist economy?

'Subsidies provide an incentive for wasteful use of resources.'Do you accept/ reject? Justify your answer.

Enumerate the various problems faced by SSls.

Highlight the achievements of India's industrial sector during the first seven plans (1950-91).

Enumerate the various objectives of a Public Sector Undertaking.

What are the drawbacks of inward looking trade strategy?

Categories canals, houses, schools, railways, ships, hospitals, banks, development banks, aerodromes, courts, power plants, transmission lines and satellites into economic and social infrastructure.

With a view to discourage hoarding of cash and to solve the problem of black money, the Government of India initiated demonetisation of Indian economy by declaring that 500 and 1,000 notes are no longer legal tender. This situation created a cash crunch and parents were not able to pay school fees of their children.

What measures have been taken to give more priority to private sector in the developmental process of the Indian economy?

Read the passage given below and answer the following questions from 1 to 4.Human capital can be defined as the body of knowledge possessed by the population and the capacity of the population to use the knowledge effectively. Until the late 1950s, no economist and any other social scientist did pay much attention to the role of investment in human beings as an important determinant of economic development. The birth of this idea can be dated from the presidential address of Prof. Theodore W. Schultze to the American Economic Association in December 1960. As a result, the concept of human capital formation came to the limelight. A circular relationship between human development and economic growth has come to be established. Economic growth creates conditions for better health and education facilities; which in turn spur economic growth.

1. Human Capital Formation came into existence in:

1. 1950
2. 1960
3. 1970
4. 1980

2. Economists say that the main key player of economic development is:

1. Human capital
2. Physical Capital
3. Real Capital
4. None of these

3. In _ Five year Plan, India emphasized on human capital formation.

1. 2nd
2. 3rd
3. 5th
4. 7th

4. ________ means an improvement in the quality of life and living standards, e.g., measures of literacy, life expectancy, and health care.

1. Economic growth
2. Economic development
3. Investment
4. None of these