Economics ยท General Awareness

Economic Sectors and Infrastructure

1,785 Questions

This topic covers the classification of primary, secondary, and tertiary economic sectors, along with their infrastructure requirements. Questions often explore the impact of globalization, privatization, and technology on various industries. This material is frequently tested in SSC, state PSC, and UPSC examinations.

Primary and secondary sectorsBanking and service sectorPrivatization and economic reformsIndustrial growth and laborFive-Year Plans priorities

Economic Sectors and Infrastructure Questions

Multiple choice

Which of the following is NOT a common source of data for industry-specific economic forecasting?

  1. Government statistics

  2. Industry reports and publications

  3. Company financial statements

  4. Consumer surveys
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

While consumer surveys can provide valuable insights into consumer preferences and behavior, they are not typically considered a common source of data for industry-specific economic forecasting. Government statistics, industry reports, and company financial statements are more commonly used for this purpose.

Multiple choice

Which sector in India has historically attracted the highest FDI inflows?

  1. Manufacturing

  2. Services

  3. Agriculture

  4. Mining
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The services sector in India, including sectors like telecommunications, financial services, and IT, has consistently attracted the highest FDI inflows.

Multiple choice

Which of the following is the most energy-intensive industry in India?

  1. Iron and Steel

  2. Cement

  3. Textiles

  4. Chemicals
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The iron and steel industry is the most energy-intensive industry in India, accounting for over 10% of the country's total energy consumption.

Multiple choice

What was the primary economic activity in feudal society?

  1. Agriculture

  2. Trade

  3. Manufacturing

  4. Mining
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Agriculture was the primary economic activity in feudal society, with most people working on manors to produce food and other goods.

Multiple choice

Which sector employs the largest number of child laborers in India?

  1. Agriculture

  2. Manufacturing

  3. Services

  4. Mining
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Agriculture employs the largest number of child laborers in India, followed by manufacturing, services, and mining.

Multiple choice

According to the Rostow's Stages of Economic Growth model, which stage is characterized by the shift from traditional agriculture to modern industry?

  1. Traditional Society

  2. Preconditions for Take-off

  3. Take-off

  4. Drive to Maturity
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

In Rostow's model, the "Take-off" stage is characterized by the rapid growth of modern industry and the shift away from traditional agriculture.

Multiple choice

Which of the following is not a sector covered under PMKVY?

  1. Manufacturing

  2. Construction

  3. Retail

  4. Agriculture
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Agriculture is not a sector covered under PMKVY.

Multiple choice

Which sector typically receives the largest share of energy subsidies globally?

  1. Transportation

  2. Agriculture

  3. Electricity

  4. Industry
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The electricity sector often receives the largest share of energy subsidies due to its importance in providing reliable and affordable energy to consumers.

Multiple choice

Which sector has consistently contributed the largest share to India's GDP in recent years?

  1. Agriculture

  2. Manufacturing

  3. Services

  4. Construction
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The services sector has consistently contributed the largest share to India's GDP in recent years, accounting for over 50% of the total GDP.

Multiple choice

What is the primary driver of growth in the services sector in India?

  1. Tourism

  2. Financial Services

  3. Information Technology

  4. Retail
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Information Technology (IT) has been the primary driver of growth in the services sector in India, contributing significantly to the country's economic development.

Multiple choice

Which sector of the Media Industry is not open to FDI?

  1. Print Media

  2. Broadcast Media

  3. Digital Media

  4. Film Production
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Print Media is not open to FDI in India.

Multiple choice

What are some of the sectors that are open to FDI in India?

  1. Manufacturing

  2. Services

  3. Agriculture

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

FDI is allowed in a wide range of sectors in India, including manufacturing, services, and agriculture.

Multiple choice

What are the main economic activities in the subarctic?

  1. Mining

  2. Forestry

  3. Agriculture

  4. Tourism
Reveal answer Fill a bubble to check yourself
Correct answer
Explanation

The main economic activities in the subarctic are mining and forestry. Mining is important for the extraction of minerals such as gold, copper, and nickel. Forestry is important for the production of timber and pulp.

Multiple choice

Which sector has witnessed significant growth due to ICT advancements?

  1. Manufacturing

  2. Agriculture

  3. Services

  4. Construction
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The services sector, particularly the IT and IT-enabled services industry, has experienced substantial growth due to ICT advancements.

Multiple choice

Which of the following is a common method for evaluating the economic viability of a mineral deposit?

  1. Net present value analysis

  2. Internal rate of return analysis

  3. Payback period analysis

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Net present value analysis, internal rate of return analysis, and payback period analysis are all common methods for evaluating the economic viability of a mineral deposit. These methods involve estimating the costs and revenues associated with the mining and processing of the deposit and determining the profitability of the project.