Nature of Indian Economy – Old Year Questions

1. India aims to achieve a 5 trillion dollar economy by :

(a) 2022
(b) 2024
(c) 2026
(d) 2030

[U.P. P.C.S. (Pre) 2020]


2. India aims to achieve the 5 trillion dollar economy target by :

(a) 2022 A.D.
(b) 2024 A.D.
(c)2026 A.D.

[U.P.B.E.O. (Pre) 2019]


3. Mixed economy means :

(a) Where agriculture and industry are given equal importance
(b) Where public sector and private sector co-exist in the national economy
(c) Where the process of globalization is affected by a heavy dose of Swadeshi in the national economy
(d) Where the Centre and States are equal partners in economic planning and development

[U.P. U.D.A./L.D.A. (Pre) 1999]


4. A mixed economy in India means :

(a) Co-existence of large and cottage industries
(b) Foreign collaboration in economic development
(c) Co-existence of public and private sector
(d) None of the above

[U.P.P.C.S. (Mains) 2013]


5. Mixed economy means :

(a) Existence of both small and large industries
(b) Existence of both private and public sectors
(c) Existence of both primary and secondary sectors
(d) None of the above

[U.P.P.C.S. (Pre) 1990, U.P.U.D.A./L.D.A. (Pre) 2006, Uttarakhand U.D.A./L.D.A. (Pre) 2007]


6. Indian Economy is :

(a) Mixed economy
(b) Socialist economy
(c) Capitalist economy
(d) Gandhian socialist economy

[U.P. R.O. / A.R.O. (Mains) 2016]


7. Which of the following are main characteristics of the Indian Economy?

(a) Capitalist economy
(b) Socialist economy
(c) Mixed economy
(d) None of the above

[U.P.P.C.S. (Pre) (Re-Exam) 2015, U.P.P.C.S. (Mains) 2013]


8. Which type of economy does India have?

(a) Socialist
(b) Gandhian
(c) Mixed
(d) Free

[53rd to 55th B.P.S.C. (Pre) 2011, U.P.P.C.S. (Pre) 2007]


9. It will be true to classify India as :

(a) A food-deficit economy
(b) A labour-surplus economy
(c) A trade-surplus economy
(d) A capital-surplus economy

[48th to 52nd B.P.S.C. (Pre) 2008]


10. An underdeveloped economy is generally characterized by :
I. Low per capita income
II. Low rate of capital formation
III. Low dependency ratio
IV. Work force largely in the tertiary sector
Select the correct answer from the codes given below :
Codes :

(a) I and II
(b) II and III
(c) III and IV
(d) I and IV

[U.P.P.C.S. (Mains) 2017]


11. Which of the following correctly explains that India is an underdeveloped economy?
1. Inequitable distribution of income
2. High dependency ratio
3. Slower rate of increase in national income
4. Change in the banking and financial sector
Select the correct answer using the codes given below.

(a) 1, 3 and 4
(b) 1, 2 and 4
(c) 1 and 4
(d) All of these
(e) None of these

[Chhattisgarh P.C.S. (Pre) 2017]


12. Which of the following features indicates that the Indian economy is in a developing category?
I. Occupation is mainly agriculture
II. Disguised unemployment
III. Poor quality of human capital
IV. High per capita intake of proteins
Select the correct answer from the codes given below :
Codes :

(a) I & II only
(b) I & IV
(c) II & III only
(d) I, II & III

[U.P.P.C.S. (Mains) 2017]


13. The Indian Economy can be described as :

(a) A backward and stagnant economy
(b) A developing economy
(c) An underdeveloped economy
(d) A developed economy

[U.P.P.C.S. (Mains) 2011]


14. The Indian Economy is characterized by :
I. Pre-dominance of Agriculture
II. Pre-dominance of Industry
III. Low per Capita Income
IV. Massive Unemployment
Select your answer from the codes given below :

(a) I & II only
(b) I, II & III only
(c) II, III & IV only
(d) I, III & IV only

[U.P. Lower Sub. (Spl.) (Pre) 2004]


15. Which of the following is a non-economic element in the growth of the country?

(a) Social Behaviour
(b) Natural resources
(c) Energy resources
(d) Capital resources

[R.A.S./R.T.S. (Pre) 1996]


16. Which of the following is not part of the ‘Second Generation of Economic Reforms’ identified by the Government?

(a) Oil Sector Reforms
(b) Public Sector Reforms
(c) Legal System Reforms

[U.P.P.C.S. (Mains) 2009]


17. The Indian model of development ensures the interest of–

(a) Person
(b) State
(c) State and Person both
(d) None of the above

[U.P. U.D.A./L.D.A. (Pre) 2013]