One of the following features is not associated with a socialist economy. Identify the feature.

1. The economy has no private property and everything is owned by the State.
2. The government provides free health care to those who need it.
3. Incomes are more or less equitably distributed
4. It is called a free market economy.

A good indicator of growth is steady increase in the:

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

Who is considered to be the architect of Indian planning?

1. Willian Digby.
2. P.C. Mahalanobis.
3. Dadabhai Naroji.
4. R.C. Desai.

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.

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.

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.

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.

Which factor led to the breaking up of the stagnation of agriculture?

1. Land reforms.
2. Green Revolution.
3. Buffer stocks.
4. Land ceiling.

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

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