Economics Jkssb Economics Set 1 Mcqs (296 MCQs) | JKSSB & SSC Quiz

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jkssb economics set 1 mcqs

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Practice Questions

296 Total
Question 11 Discuss
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Which of the following is an example of public sector industry in India?

A
Bharat Heavy Electricals Limited
B
Bajaj Auto
C
Dabur
D
Tata Iron Steel Company

Answer & Explanation

Correct Option: A

Bharat Heavy Electricals Limited (BHEL) is a central public sector enterprise owned and administered by the Government of India.
Question 12 Discuss
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Which of the following statements about the second five-year plan is INCORRECT?

A
The plan stressed the rapid industrialisation of heavy and basic industries.
B
Electricity, Railway, Steel etc. industries were established during the plan.
C
The plan was based on the Keynesian Model.
D
The socialist pattern of the society was reflected in the plan.

Answer & Explanation

Correct Option: C

The Second Five-Year Plan was actually based on the Mahalanobis model, which prioritized rapid industrialization and investments in heavy industries.
Question 13 Discuss
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What action was taken by the government to celebrate the achievement of the Green Revolution in agriculture?

A
Released a regular salary for the farmers
B
Distributed free food to all the people
C
Released a special stamp, 'Wheat Revolution'
D
Distributed green vegetables to the people

Answer & Explanation

Correct Option: C

In 1968, Prime Minister Indira Gandhi officially recorded the impressive success of the Green Revolution by releasing a special postage stamp titled 'Wheat Revolution'.
Question 14 Discuss
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The Mahalanobis model was the basis for which Five-Year Plan?

A
Fourth Five-Year Plan
B
Second Five-Year Plan
C
Sixth Five-Year Plan
D
First Five-Year Plan

Answer & Explanation

Correct Option: B

The Mahalanobis model, developed by statistician P.C. Mahalanobis, underpinned the Second Five-Year Plan (1956-1961) with its focus on heavy industries.
Question 15 Discuss
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What were the main obstacles during the industrial development of India at the time of independence?

A
Market for industrial produce
B
Capital investment in industries
C
Employment required for industries
D
Land for industrial establishment

Answer & Explanation

Correct Option: B

At independence, India faced a severe shortage of capital and savings, which hindered large-scale industrial investments and infrastructural development.
Question 16 Discuss
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Which of the following institutions has contributed mainly in improving the economic status of the poor women in rural areas?

A
Indira Awas Yojana
B
Integrated Development Project
C
Self-help Group
D
Rural Health Scheme

Answer & Explanation

Correct Option: C

Self-Help Groups (SHGs) pool savings and provide microcredit to their members, empowering rural women by fostering financial inclusion and entrepreneurship.
Question 17 Discuss
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Harrod Domar model was the main idea behind the Five Year Plan.

A
Third
B
First
C
Second
D
Fourth

Answer & Explanation

Correct Option: B

The First Five-Year Plan (1951-1956) was based on the Harrod-Domar model with modifications, focusing on boosting savings and investment for agricultural development.
Question 18 Discuss
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Which is the National Mission for Financial Inclusion to ensure access to financial services, namely, a basic savings and deposits accounts, remittance, credit, insurance, pension in an affordable manner?

A
Digital India
B
Make in India
C
Pradhan Mantri Mudra Yojana
D
Pradhan Mantri Jan Dhan Yojana

Answer & Explanation

Correct Option: D

Pradhan Mantri Jan Dhan Yojana is the flagship scheme launched in 2014 to ensure comprehensive financial inclusion for unbanked households.
Question 19 Discuss
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According to the Census of India 2011, which Union Territory has the highest density of population?

A
Andaman and Nicobar Islands
B
Lakshadweep
C
Puducherry
D
Delhi

Answer & Explanation

Correct Option: D

With over 11,000 persons per square kilometer, the National Capital Territory of Delhi has the highest population density among all Indian states and Union Territories.
Question 20 Discuss
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Which of the following statements is correct?

A
The five-year plan focuses mostly on private intervention in the economy.
B
The five-year plan always focused on the growth of the tertiary sector.
C
The five-year plan permits long-term intervention by the government in the economy.
D
A five-year plan always stresses market oriented activities.

Answer & Explanation

Correct Option: C

Five-year plans were centralized, integrated national economic programs that guided the government's long-term intervention and developmental goals in the economy.
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