Tag: the nature of the indian economy part 2

Quizzes (8) Questions (90)

Questions Related to the nature of the indian economy part 2

Multiple choice organisation of commerce and management the nature of the indian economy part 2 industrial revolution in india subsidies, industrial policy and trade policy cottage and small scale industries

The oldest large scale industry in India is _________.

  1. cotton textiles

  2. iron and Steel

  3. jute

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

The first cotton cloth mill in India was established in 1818 at Kolkata. And the 2nd mill established by KGN Saber in 1854 laid the base for the further development. It is since then India is involved into cotton and textile industry. Now this sector contributes 4% of the GDP, and our country is the second largest producer of fibre in the world. 

Multiple choice organisation of commerce and management the nature of the indian economy part 2 industrial revolution in india subsidies, industrial policy and trade policy cottage and small scale industries

SIDCO is related to the development of ____________.

  1. sugar industry

  2. steel industry

  3. small industry

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

Small Industries Development Corporation Limited (SIDCO) has been set up by the Govt. of Tamilnadu, with the specific objective of playing a catalytic role in the promotion and development of Small Scale Industries.

Multiple choice organisation of commerce and management the nature of the indian economy part 2 industrial revolution in india subsidies, industrial policy and trade policy cottage and small scale industries

SIDO is related to the development of ___________.

  1. Soap industry

  2. Steel industry

  3. Small industry

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

Small Industries Development Organi-sation (SIDO) an apex body at Central level for formulating policy for the development of Small Scale Industries in the country, is playing a very constructive role for strengthening this vital sector which has been proved to be one of the pillars of the economy of the country.

Multiple choice organisation of commerce and management the nature of the indian economy part 2 industrial revolution in india subsidies, industrial policy and trade policy cottage and small scale industries

The higher the prices of capital relative to the prices of labour, the more production techniques should be ____________.

  1. labour intensive

  2. capital intensive

  3. fixed

  4. labour or capital intensive and we cannot say which without additional information.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Beacause the prices of capital are higher than that of labour hence the technique of production used should be labour intensive. 

One major reason behind this would be the production costs would be lesser if such techniques are used.

Multiple choice organisation of commerce and management the nature of the indian economy part 2 industrial revolution in india subsidies, industrial policy and trade policy cottage and small scale industries

Which of the following was the role of the state when developing India's industries?

  1. Providing industrialists with support to build industries

  2. Large amount of capital investment and promotion by the state.

  3. Forcing industrialists to invest in India's industrial ventures.

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

The state played a major role in India's industrialization by providing massive capital investment and promoting key industries.

Multiple choice organisation of commerce and management the nature of the indian economy part 2 industrial revolution in india subsidies, industrial policy and trade policy cottage and small scale industries

In which year the new Industrial Policy was announced? 

  1. 1997

  2. 1951

  3. 1991

  4. 1998
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

After independence, India adopted the mixed economy principle, but a high stress on the Public sector was given. The government could not manage the debt and inflation and hence we adopted the LPG i.e. Liberalization, Privatization, and Globalization under the new industrial policy in 1991. 

Multiple choice organisation of commerce and management the nature of the indian economy part 2 industrial revolution in india subsidies, industrial policy and trade policy cottage and small scale industries

The industrial Policy Resolution was part of which 5 year plan? 

  1. Second Five Year Plan

  2. Third Five Year Plan

  3. First Five Year Plan

  4. Fourth Five Year Plan
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The Industrial Policy Resolution of 1956 was a cornerstone of the Second Five Year Plan, which focused on heavy industrialization.

Multiple choice organisation of commerce and management the nature of the indian economy part 2 industrial revolution in india subsidies, industrial policy and trade policy cottage and small scale industries

Which of the following is a reason for small scale industries is more labor intensive? 

  1. Small industries cant afford high amounts of capital

  2. Small industries can afford high amounts of capital

  3. Labor is very expensive

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

Small-scale industries are labor-intensive primarily because they lack the capital to invest in expensive, automated machinery.