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

Multiple choice

Primary sector does not include

  1. forestry

  2. Mining

  3. fishing

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

Transportation is a part of service sector. The activities, which are concerned with agriculture and extracting wealth from beneath the land, are a part of primary sector.

Multiple choice

Which of the following sectors account for the largest share in GDP?

  1. Primary sector

  2. Secondary sector

  3. Tertiary sector

  4. None of these
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The tertiary sector accounts for more than half share in the GDP. Though primary sector accounts for the maximum number of people involved, yet its contribution is less than 20% and the contribution of secondary sector has been 25% share.

Multiple choice

The state Financial Corporations gives assistance mainly to develop

  1. small and medium scale industries

  2. agricultural farms

  3. cotton industry

  4. large scale industries
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

State Financial Corporations (SFCs) were established to provide long-term financial assistance to small and medium-scale industrial units within their respective states.

Multiple choice

Which among the following is an essential characteristic of mixed economy?

  1. co-existence of small scale and large scale industries

  2. co-existence of private and public sectors

  3. assigning equal importance to both agriculture and heavy industries

  4. co-existence of the rich and the poor
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A mixed economy is defined by the coexistence of both private and public sectors, where both market forces and government planning influence economic activity.

Multiple choice

Name the oldest large-scale industry of India.

  1. Cotton textiles industry

  2. Jute and jute goods industry

  3. Coir and coir products industry

  4. Iron and steel industry
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The cotton textile industry is historically the oldest large-scale industry in India, dating back to the 19th century.

Multiple choice

Which sector contributes the maximum share in national income of India?

  1. Primary

  2. Secondary

  3. Tertiary

  4. All of the above have equal share

  5. Household sector
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Primary sector industries are engaged in production or extraction of natural resources such as crops, oil and ores. Primary sector contribution in national income is approximately 70%.

Multiple choice

Which of the following statements is/are correct?

a. Private sector industries are owned by individuals or groups of individuals. b. Joint sector industries are owned by the producers or suppliers of raw materials, workers or both. c. Public sector industries are owned and operated by government agencies.

  1. a, b and c

  2. a and b

  3. b and c

  4. a and c

  5. only c
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

This is the correct answer as both statements a and c are correct.