Economics · General Awareness
Economic Sectors and Infrastructure
1,725 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
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Heavy water plant
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Oil refinery
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Explosive
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Steel plant
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Civil aviation
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Power generation plants
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Pharmaceuticals
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Project management consultancies
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Agriculture
C
Correct answer
Explanation
This is a core sector where the government invested through public sector enterprises.
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Travel
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Tech.
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Financial Services
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Automobiles
C
Correct answer
Explanation
The financial services sector typically witnesses the highest online advertisement spending. This is due to the high value of financial products, intense competition among banks/insurers/fintech companies, and the measurable ROI of digital marketing in customer acquisition for financial services.
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High entry and exit barriers<o:p></o:p>
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Low entry and exit barriers<o:p></o:p>
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Low entry and high exit barriers<o:p></o:p>
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High entry and low exit barriers<o:p></o:p>
C
Correct answer
Explanation
It is the right answer as in the case of airline industry there is low entry barriers however the exit barriers are very high.
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Pure oligopoly<o:p></o:p>
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Differentiated oligopoly<o:p></o:p>
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Monopoly<o:p></o:p>
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Monopolistic competition<o:p></o:p>
A
Correct answer
Explanation
Oil industry is an example of pure oligopoly in which a few companies producing the same commodity find it hard to charge more than the going price.
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Technical
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Commercial
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Financial
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Security
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Statistical
E
Correct answer
Explanation
According to Fayol, the six main activities of an industrial undertaking are: Technical, Commercial, Financial, Security, Accounting, and Managerial. Statistical is not one of the distinct activities classified by Fayol.
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75 % of the capital
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51 % of the capital
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85 % of the capital
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100 % of the capital
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Photography
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Hotel Industry
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Wrist Watch Industry
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IT industry
A
Correct answer
Explanation
Photography has historically been the largest consumer of silver due to silver halide crystals used in photographic film and paper. Light-sensitive silver compounds capture images when exposed to light, making silver essential for traditional photography. This question reflects the era when film photography dominated before digital cameras became widespread.
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primary sector
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secondary sector
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tertiary sector
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organized sector
A
Correct answer
Explanation
The primary sector, which includes agriculture, forestry, and fishing, remains the largest employer in India. Despite the growing contribution of the service sector to the GDP, a majority of the Indian workforce is still engaged in agricultural activities.
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Transport
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Commercial Banking
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Steel Industry
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Term Lending Institutions
B
Correct answer
Explanation
In India, the public sector remains dominant in commercial banking, with Public Sector Banks (PSBs) accounting for a major share of the total banking business and deposits.
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forestry
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agriculture
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industry
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entertainment
B
Correct answer
Explanation
Historically, agriculture has been the primary source of national income and the largest employer in India. While the service sector now contributes more to the GDP, agriculture remains the traditional 'backbone' of the Indian economy in many academic contexts.
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agriculture, trade and industry
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domestic industry and multinational industry
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large scale and cottage industry
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public sector and private sector enterprises
D
Correct answer
Explanation
A mixed economy is an economic system that combines elements of both market and planned economies. It is characterized by the coexistence of a private sector (owned by individuals) and a public sector (owned by the government).
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cement
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paper
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electronic gadgets
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steel
D
Correct answer
Explanation
Arcelor was a major European steel manufacturer that merged with Mittal Steel in 2006 to form ArcelorMittal. At the time of the merger, it was one of the largest steel producers in the world.
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Mixed economy
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Free economy
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Socialistic economy
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Gandhian economy
A
Correct answer
Explanation
India has a mixed economy, which is a system that combines characteristics of both capitalism and socialism. It allows for a private sector to operate for profit while the government maintains control over essential public services and strategic industries.
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A small scale industry is defined with reference to the maximum investment allowed on the assets of a unit.
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The maximum investment allowed in a small scale industry is rupees fifty lacs.
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A small scale industry is defined as one which supplies its products to manufacture other goods.
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All of the above
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Both 1 and 2
A
Correct answer
Explanation
Correct Answer: A small scale industry is defined with reference to the maximum investment allowed on the assets of a unit.