In India, what type of economic system is being followed?

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

A good indicator of growth is steady increase in the:

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

Self-reliance means avoiding:

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

Long-term objectives to be achieved over a long period of time formulated with reference to common goals of plans are called:

1. Objectives of plans.
2. Objectives of planning.
3. Perspective plans.
4. Both (b) and (c).

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.

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

Green Revolution introduced during the planning process was restricted mainly to:

1. Wheat and rice.
2. Cereals and pulses.
3. Cotton and jute.
4. Jowar and bajra.

The common goals of the five year plans are:

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

When was planning initiated in India?

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

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.