Tag: foreign trade in india

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Questions Related to foreign trade in india

Multiple choice civics foreign trade in india the government and economic development indian economy on the eve of independence impact of technology on livelihoods

In order to generate adequate resources for public sector enterprises to sustain their growth, there had been an increasing demand for their ________.
(i) Liberalization
(ii) Privatization
(iii) Disinvestments
(iv) Globalization

  1. (i) Only

  2. (ii) Only

  3. (i) (ii) and (iii) only

  4. (i) ,(ii), (iii) and (iv)
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

In order to generate adequate resources for public sector enterprises to sustain their growth, there had been an increasing demand for their privatization. Privatization can be defined as a process which includes transfer of ownership and management of the public enterprise to the private enterprises.

Multiple choice civics foreign trade in india the government and economic development indian economy on the eve of independence impact of technology on livelihoods

Navratnas does not include __________.

  1. BEL

  2. BPCL

  3. MTNL

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

Navaratnas does not include BPCL( Bharat Petroleum Corporation Limited). BPCL is included in Maharatnas.
Navaratnas are:

1. Bharat Electronics Limited (BEL)

2. Container Corporation of India Limited

3. Engineers India Limited

4. Hindustan Aeronautics Limited

5. Hindustan Petroleum Corporation Limited

6. Mahanagar Telephone Nigam Limited

7. National Aluminium Company Limited

8. National Buildings Construction Corporation Limited

9. NMDC Limited

10. Neyveli Lignite Corporation Limited

11. Oil India Limited

12. Power Finance Corporation Limited

13. Power Grid Corporation of India Limited

14. Rashtriya Ispat Nigam Limited

15. Rural Electrification Corporation Limited

16. Shipping Corporation of India Limited

Multiple choice economics foreign trade in india the government and economic development indian economy on the eve of independence impact of technology on livelihoods

Import of oil and lubricants constitute nearly ________ of India's total import bill as per 2013-14 data.

  1. 20%

  2. 24%

  3. 35%

  4. 40%
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Based on historical economic data for India around 2013-14, oil and lubricants accounted for a significant portion of the import bill, typically around 35%.

Multiple choice civics foreign trade in india the government and economic development indian economy on the eve of independence impact of technology on livelihoods

'Public Sector' means ___________.

  1. government ownership on commerce and trade

  2. capitalist ownership on commerce and trade

  3. private ownership on trade

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

Public sector refers to all the companies, bank, commerce and trade which has 51% or more of government shares as it equity. Therefore, it refers to the government ownership on commerce and trade.

Multiple choice civics foreign trade in india the government and economic development indian economy on the eve of independence impact of technology on livelihoods

The first atomic power station in Trombay was started in the year _____.

  1. 1950

  2. 1952

  3. 1956

  4. 1960
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The Bhabha Atomic Research Centre (BARC) is India’s premier nuclear research facility based in Trombay, Mumbai, Maharashtra. BARC is a multi-disciplinary research centre with extensive infrastructure for advanced research and development covering the entire spectrum of nuclear science, engineering and related areas.

Multiple choice business economics and quantitative methods foreign trade in india the government and economic development indian economy on the eve of independence impact of technology on livelihoods

When there is excess demand for a commodity, the 'Law of demand' implies that __________.

  1. price of the commodity falls

  2. price of the commodity remains same

  3. price of the commodity rises

  4. quantity demanded of the commodity falls
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

According to the law of demand, when demand exceeds supply (excess demand), the scarcity of the commodity puts upward pressure on its price until the market reaches equilibrium.

Multiple choice business economics and quantitative methods foreign trade in india the government and economic development indian economy on the eve of independence impact of technology on livelihoods

Supply of perishable goods is inelastic.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Perishable goods cannot be stored for long periods, so producers must sell them regardless of the price, making their supply relatively unresponsive to price changes in the short run.

Multiple choice business economics and quantitative methods foreign trade in india the government and economic development indian economy on the eve of independence impact of technology on livelihoods

Total outlay is price multiplied by quantity. 

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Total outlay is another method to measure elasticity of demand this is also known as the expenditure method, Total outlay is calculated by taking into account the total expenditure which Is price multiplied by quantity. 

Multiple choice business economics and quantitative methods foreign trade in india the government and economic development indian economy on the eve of independence impact of technology on livelihoods

_______ is the price at which demand, for a commodity is equal to is supply.

  1. Normal price

  2. Equilibrium price

  3. Short run price

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

Equilibrium price is the price at which the quantity demanded and the quantity supplied is the same. After equilibrium is achieved the price does not change. It is the ideal market price.

Multiple choice business economics and quantitative methods foreign trade in india the government and economic development indian economy on the eve of independence impact of technology on livelihoods

In economics, a state of balance is called ________________.

  1. saturation point

  2. stability point

  3. profit maximising point

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

In economics, equilibrium is the state where market forces, such as supply and demand, are balanced, and there is no tendency for the price or quantity to change.