The concept of indicative planning in India refers to: MCQ with Answer and Explanation

Question

Share Report Error

The concept of indicative planning in India refers to:

A. planning based on forced targets

B. planning in a mixed economy with public and private sectors

C. planning without any state intervention

D. state ownership of all means of production

Answer: Option B

Solution (By JKSSB Mock Tests)

Indicative planning in India is planning in a mixed economy with both public and private sectors.

This question belongs to: Economy GK Economy Set 1

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1

The 'Lorenz curve' is a graph showing:

A. income distribution

B. GDP growth

C. unemployment

D. inflation over time

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option A

Explanation:
The Lorenz curve graphically represents the distribution of income or wealth.

This question belongs to: Economy GK Economy Set 1

Question #2

The term 'Budgetary Deficit' in the earlier classification referred to:

A. Excess of total expenditure over total receipts excluding borrowings

B. Fiscal deficit

C. Primary deficit

D. Difference between revenue expenditure and revenue receipts plus capital receipts excluding borrowings

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
In the older classification, budgetary deficit was the difference between total expenditure and total receipts (both revenue and capital, excluding borrowings). It is no longer widely used.

This question belongs to: Economy GK Economy Set 1

Question #3

Under perfect competition, the demand curve of a firm is:

A. downward sloping

B. upward sloping

C. perfectly inelastic

D. perfectly elastic

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
A perfectly competitive firm faces a horizontal demand curve at the market price.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs