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 geography economic activity people and resources utilisation of europe europe - peninsula of asia continents: europe

The traditional industry of Norway is _____________.

  1. Agriculture

  2. Forestry

  3. Iron and Steel

  4. None of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation
Norway has vast forests, and timber is the most important raw material for its forestry-based industries. Around half of the timber felled is used by the timber industry, which manufactures wood products for housebuilding, glued-wood structures, doors, window-frames and furniture. Timber that is less suitable for this is sold to the pulp and paper industry for making pulp.

Although the timber industry is spread over large parts of the country, the highest concentrations of it are in eastern and mid Norway. Over the past few years, this sector has undergone restructuring through mergers and acquisitions. Since taking over Norske Skog’s timber operations, Moelven has become one of the largest timber companies in Europe.

The pulp and paper industry consumes a lot of energy, so the companies in this sector have traditionally been located along the major rivers in eastern and mid Norway. This sector is extremely export-oriented and exposed to international competition. Norske Skog has bought factories in Central Europe and Asia over the past few years. The Norwegian pulp and paper industry has long industrial experience and high levels of expertise in the further processing of forestry resources. Paper based on fresh fibre from Nordic conifers is often of a better quality than that based on new, quick-growing plantation trees or paper that has a high recycled-paper content. The new paper-recycling facility at Norske Skog’s mill at Skogn ensures a market for Norwegian recycled paper. Developments in the price of electricity will be of great significance to the Norwegian pulp and paper industry’s competitive ability in the future.
Multiple choice geography economic activity people and resources utilisation of europe europe - peninsula of asia continents: europe

Which of the following industries is famous in the Ruhr industrial region of Europe?

  1. Textile and Chemicals

  2. Steel and Engineering

  3. Cement and Paper

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

Steel and Engineering,

In 1923 German government was unable to pay the reparations required under the terms of the Treaty of Versailles. The French and Belgian governments responded by sending in troops to the Ruhr, the main centre of Germany's coal, iron and steel production.

The German people were outraged and Fritz Thyssen and other industrialists who had investments in the Ruhr, organized a passive resistance campaign. The French responded by bringing in their own workers to operate the mines and began arresting leaders of the resistance movement.

The occupation of the Ruhr led to a collapse of the German economy. There was massive inflation and large increase in unemployment. Germany was now unable to pay any reparations.

Charles G. Dawes, an American banker, was asked by the Allied Reparations Committee to investigate the problem. His report, published in April, 1924, proposed a plan for instituting annual payments of reparations on a fixed scale. He also recommended the reorganization of the German State Bank and increased foreign loans.

Gustav Stresemann, the German chancellor called off the passive resistance and began paying reparations again. The French and Belgian troops withdrew from the Ruhr in 1925.

Multiple choice economics basic concepts of national income macroeconomic theories some basic concepts of macroeconomics introduction to macroeconomics

Two-sector economy consists of _______________.

  1. Households, firms

  2. Firms, Foreign sector

  3. Households, Government

  4. Firms, Government
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Two sector economy consists of:
a) Household sector: It includes consumers of goods and services. Households are also the owners of the factors of production.
b) Producer sector: It includes all producing units in the economy. For the production of goods and services, the firms purchase factors of production.

Multiple choice economics basic concepts of national income macroeconomic theories some basic concepts of macroeconomics introduction to macroeconomics

Which of the following is the consumption sector?

  1. Households

  2. Firms

  3. Foreign

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

Household is the consumption sector. Household sector receive goods and services from the producer sector for consumption purpose and thus the household sector can be termed as the consumption sector. Households are also the owners of the factors of production.

Multiple choice superlatives (biggest, highest, largest, smallest) : india and world superlatives and first in india and world general knowledge

The fastest rate of growth in terms of income generated has been recorded in the past couple of decades, in the:

  1. Agricultural sector

  2. Industrial sector

  3. Services sector

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

The services sector has consistently been the fastest-growing sector in the Indian economy over the last few decades, contributing significantly to the GDP. Agriculture and industry have grown at slower rates compared to the services sector.

Multiple choice evs farming brings prosperity agriculture and types of crops crop management management of crops in india

Major percentage of India's Gross Domestic Product is constituted by 

  1. industry

  2. agriculture

  3. export

  4. small scale cottage industry.
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

India is an agricultural country. Agriculture accounts for approximately 33% of India's GDP and employs nearly 62% of the population. Therefore, a major percentage of India's Gross Domestic Product is constituted by agriculture.

So, the correct option is 'Option B'.

Multiple choice geography north america - geographical features economic resources location and expansion - north america north america - economic features

Chief Industry of Canada is _________.

  1. Wine

  2. Dairy

  3. Iron

  4. Wood pulp and paper
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Canada is historically and economically significant for its vast forest resources, making wood pulp and paper a primary industry. While Canada produces other goods, this sector has long been a pillar of its national economy.

Multiple choice geography state of industries in india meaning and classification of industries industrialisation and urbanisation urbanisation

Obtaining of Industrial License is compulsory for all of the below sector except.

  1. Clothes

  2. Hazardous chemicals

  3. Electronic aerospace

  4. Cigarette's of tobacco
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Following the liberalization policies in India, most industries were delicensed. However, hazardous chemicals, tobacco products, and aerospace/defense industries often remain under licensing requirements for safety or regulatory reasons. Clothes (textiles) do not require an industrial license.

Multiple choice geography state of industries in india meaning and classification of industries industrialisation and urbanisation urbanisation

Industry refers to an economic activity:  
(i) concerned with production of goods
(ii) extraction of minerals
(iii) Provision of services

  1. Only (i) is correct

  2. Only (i) and (ii) are correct

  3. Only (i) and (iii) are correct

  4. All are correct
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Industry is broadly defined as an economic activity that includes the production of goods, the extraction of minerals, and the provision of services, all of which contribute to economic value.

Multiple choice geography state of industries in india meaning and classification of industries industrialisation and urbanisation urbanisation

The industrial sector depends on the agricultural sector because _________.

  1. the agriculture sector provides food and other products for the consumption purposes of industrial sector.

  2. the agriculture sector provides raw materials for the development of a agro-based industries of the economy.

  3. the agricultural sector provides market for the industrial products.

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

The industrial sector depends on the agricultural sector because agriculture sector provides food and other products for the consumption purposes of industrial sector as well as provides raw materials for the development of agro-based industries of the economy and provides market for industrial products.

Multiple choice geography state of industries in india meaning and classification of industries industrialisation and urbanisation urbanisation

Which of the following statements is correct with regards to the industrial sector in India?

  1. A large number of industries face under utilization of production capacity.

  2. The incremental capital-output ratio has been falling over the planning period.

  3. In terms of regions, industrial development is quite balanced.

  4. None of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The correct statement is that a large number of industries face under utilization of production capacity. Others are incorrect because the incremental capital-output ratio has been increasing over the planning period and region-wise industrial development is quite imbalanced.

Multiple choice geography state of industries in india meaning and classification of industries industrialisation and urbanisation urbanisation

Based on Size, Industries can be classified into _____________.

  1. large, medium and small industries

  2. basic, capital, intermediate and consumer goods industries

  3. public sector and private sector industries

  4. registered and unregistered industries
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Based on size, industries are categorized by the scale of their investment and operations into large, medium, and small-scale industries.

Multiple choice geography state of industries in india meaning and classification of industries industrialisation and urbanisation urbanisation

______ is the process by which centre of gravity of the economy shifts from agriculture to industry.

  1. Privatization

  2. Industrialization

  3. Divestment

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

Industrialization is the process of economic and social change that transforms a society from an agrarian one into an industrial one.