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

In the 2001 resolution on industrial policy the number of industries exclusively reserved for the public sector was brought down. This meant that the private sector can now enter all areas, except these and the public sector would have to compete with them. Which of the following areas are now exclusive for the public sector?

a. Atomic energy

b. Arms

c. Communication

d. Railways

  1. Only a, b and c

  2. Only a, c and d

  3. Only a, b and d

  4. Only b, c and d

  5. All of these
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

This the correct option because atomic energy, arms and railways are exclusive to the public sector only.

Multiple choice

Which of the following types of organisations has the capability of expansion of market territory and operates through a network of subsidiaries, branches and affiliates?

  1. MOFA

  2. MNC

  3. Public Sector enterprises

  4. Private sector enterprises

  5. All of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Multi National Corporations are global enterprises that undertake expansion of market territories extending beyond the physical boundaries of their own country. They operate through a network of subsidiaries, branches and affiliates in their host countries.

Multiple choice

Indian economy is a

  1. socialist economy

  2. pure market economy

  3. mixed economy

  4. traditional economy

  5. cooperative economy
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

This is the correct answer. India is a mixed economy.

Multiple choice

Service sector includes all those economic activities which are required for uninterrupted production and exchange of goods. Which of the following is not a feature of these services?

  1. They do not have physical existence.

  2. They are consumed as soon as they are produced.

  3. A service cannot be separated from its service provider.

  4. Services are homogenous.

  5. The involvement of a customer is necessary for the delivery of service.

Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

 
 

Multiple choice

Manufacturing industries can be divided into separate categories on the basis of method of operation for production. Which of the following is/are the correct categories of manufacturing industries? A. Analytical industries
B. Synthetical industries
C. Processing industries
D. Assembling industries

  1. Only A and B

  2. Only A, B and C

  3. Only C and D

  4. Only B, C and D

  5. All of these
Reveal answer Fill a bubble to check yourself
E Correct answer
Explanation

This is the correct option as all of these are a part of manufacturing industries. Analytical industries analyse and separate different elements from the same materials. Example: oil refinery. Synthetical industries combine various ingredients into a new product. Example: cement. Processing industries involve successive stages for manufacturing finished products. Example: sugar and paper. These are a part of manufacturing industries apart from assembling industries. Assembling industries assemble different component parts to make a new product. Example: television, car.

Multiple choice

The main source of India's national income is

  1. industry

  2. forestry

  3. agriculture

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

Historically, agriculture has been the primary sector for India's national income and employment, though its share has decreased over time.

Multiple choice

'SAPTA' is related to

  1. education

  2. trade

  3. security

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

SAPTA stands for SAARC Preferential Trading Arrangement, which is a regional trade agreement.

Multiple choice

Which of the following chief industries is related to Kimberley?

  1. Silk

  2. Diamond mining

  3. Cigar

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

Kimberley, South Africa, is globally famous for its historical significance in the diamond industry, specifically the discovery of the Big Hole and the development of large-scale diamond mining.

Multiple choice

Which of the following industries uses mica?

  1. Textile industry

  2. Steel industry

  3. Electrical industry

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

Mica is an excellent electrical insulator and is heat resistant, making it essential for various components in the electrical and electronics industry.

Multiple choice

Which contributes most to the GDP of India?

  1. Iron and steel industries

  2. Cotton textile industries

  3. Railways

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

The service sector (tertiary sector) accounts for the largest share of India's GDP, significantly outpacing both the agricultural and industrial sectors.