Self-reliance means avoiding:

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

Capitalist structure was not adopted by Indian economy due to:

1. Less scope for improvement of quality of human life.
2. More democratic structure was needed.
3. There was a need to reduce role of public sector.
4. None of the above.

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

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

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

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

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

Who formulates five year plans in India?

1. Reserve Bank of India.
2. Planning Commission.
3. Parliament.
4. Supreme Court.

Who takes the decisions regarding production and distribution of commodities in a socialist economy?

1. Market forces of demand and supply.
2. Government.
3. Both a and b in a combined way.
4. God.

.......... 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 first five-year plan introduced?

1. 1st April, 1950
2. 1st April, 1951
3. 1st April, 1952
4. 31st March, 1950