Check the below NCERT MCQ Class 11 Economics Chapter 2 Indian Economy (1950 – 1990) with Answers available with PDF free download. MCQ Questions for Class 11 Economics with Answers were prepared based on the latest syllabus and examination pattern issued by CBSE, NCERT and KVS. Our teachers have provided below Indian Economy (1950 – 1990) Class 11 Economics MCQs Questions with answers which will help students to revise and get more marks in exams
Indian Economy (1950 – 1990) Class 11 Economics MCQ Questions with Answers
Refer below for MCQ Class 11 Economics Chapter 2 Indian Economy (1950 – 1990) with solutions. Solve questions and compare with the answers provided below
Question. Long- term objectives to be achieved over a long period of time formulated with reference to common goals of plans are called:
(a) Objectives of plans
(b) Objectives of planning
(c) Perspective plans
(d) Both (b) and (c)
Answer
D
Question. The planning commission was set up in :
(a) 1948
(b) 1950
(c) 1951
(d) 1956
Answer
B
Question. Who is known as the architect of “Indian Planning”?
(a)Jawaharlal Nehru
(b) Dr. BR Ambedkar
(c) PC Mahalanobis
(d) Sardar Vallabhbhai Patel
Answer
C
Question. Under which system the goods are distributed among people not on the basis of what people need but on the basis of what people need but on the basis of purchasing power?
(a) Capitalistic system
(b) Socialistic system
(c) Mixed system
(d) Dual system
Answer
A
Question. Green Revolution introduced during the planning process was restricted mainly to :
(a) Wheat and rice
(b) Cereals and pulses
(c) Cotton and jute
(d) Jowar and bajra.
Answer
A
Question. When was NITI Aayog formed?
(a) 1950
(b) 1991
(c) 2015
(d) 2012
Answer
C
Question. Who is the ex-officio chairman of the NITI Aayog?
(a) Prime Minister
(b) Home Minister
(c) Finance Minister
(d) President
Answer
A
Question. Who is known as the architect of Indian Planning?
(a) Jawaharlal Nehru
(b) Dr. B.R. Ambedkar
(c) P.C. Mahalanobis
(d) Dadabhai Naoroji
Answer
C
Question. The production decision under which economic system is based upon the market forces of demand and supply?
(a) Capitalism
(b) Socialism
(c) Mixed
(d) Monarchy
Answer
A
Question. The term ‘natural rate of unemployment’ is consistent with the situation of:
(a) Full employment
(b) Under employment
(c) Disguised unemployment
(d) Structural unemployment
Answer
A
Question. ‘Modernisation’ as a goal of planning in context of Indian economy aimed at:
(a) Use of new technology
(b) Change in social outlook
(c) Adopting western lifestyle
(d) Both (a) and (b) above
Answer
D
Question. Mahalanobis Model was started in ___________ Five Year Plan.
(a) First
(b) Second
(c) Tenth
(d) Eleventh
Answer
B
Question. Which of the following facts are associated with P.C. Mahalanobis?
(a) He is known as the architect of Indian planning.
(b) He started the journal Sankhya.
(c) He established the Indian Statistical Institute.
(d) All of the above.
Answer
D
Question. Which amongst the following are the central problems of an economy?
(a) What to produce
(b) How to produce
(c) For whom to produce
(d) All of the above
Answer
D
Question. Which sector made the maximum contribution in the national income of India from the period 1950–91?
(a) Agriculture sector
(b) Service sector
(c) Industrial sector
(d) None of these
Answer
A
Question. __________ refers to adoption of new technology in the field of production and change in social outlook.
Answer
Modernisation
Question. __________ institution replaced Planning Commission in India.
Answer
NITI Aayog
Question. __________ is a policy think-tank of Government of India and aims to involve the states in economic policy-making in India.
Answer
NITI Aayog
Question. The post-independent India chose the path of ___________ economy through economic planning for her development.
Answer
Mixed
Question. __________ is a system under which a set for targets is defined by the central authority of the country.
Answer
Economic Planning
Question. In India, __________ formulated the plans for the country.
Answer
Planning Commission
Question. __________ implies avoiding dependence on imports of those goods which could be produced in the country itself.
Answer
Self-reliance
Question. An economy in which means of production are used in a manner such that social welfare is maximised is called __________ economy.
Answer
Socialist
Question. Objective of planning necessary to reduce our dependence on foreign goods is called __________ .
Answer
Self-reliance
Question. What are the three questions that every economic system has to answer?
Answer
The three questions are: (i) What to produce? (ii) How to produce? (iii) For whom to produce?
Question. Define a capitalist economy.
Answer
A capitalist economy may be defined as an economic system in which the means of production are privately owned and economic activities are guided by self-interest and profit motive.
Question. What changes take place in the sectoral composition of an economy during the process of development?
Answer
With the process of development the share of agriculture in GDP declines whereas the share of industry and service sectors increase.
Question. What changes have been observed in the contribution of agricultural sector to GDP from the period 1950-51 to 1990-91?
Answer
The contribution of agricultural sector to GDP declined from 59 per cent in 1950-51 to nearly 35 per cent in 1990-91.
Question. Define a socialist economy.
Answer
Socialist economy is a system in which means of production are owned by the whole community and all economic decisions are taken by a central authority.
Question. What is economic growth?
Answer
Economic growth refers to increase in country’s productive capacity and it is measured by increase in real per capita GDP.
Question. What is meant by sectoral (or structural) composition of an economy?
Answer
The contribution of various sectors to the GDP is termed as sectoral composition of the economy.
Question. What is meant by modernisation?
Answer
Modernisation refers to adoption of new technology in the field of production and change in social outlook.
Question. What is the name of the institution which is formed in place of planning commission?
Answer
The name of the new institution is NITI Aayog (or National Institution for Transforming India).
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