Indian Economy 1950-1990 MCQ Class 12 Economics Chapter 2 Answers

Indian Economy 1950-1990 MCQ Questions for Class 12 Micro Economics Chapter 2 with Answers

We have compiled the NCERT/CBSE chapter-wise Multiple Choice Class 12 Economics Chapter 2 Indian Economy 1950-1990 with Answers by expert subject teacher for latest syllabus and examination. Prepare effectively for the exam taking the help of the Class 12 Economics Objective Questions PDF free of cost from here. Students also can take a free test of the Multiple Choice Questions of Indian Economy 1950-1990. Each question has four options followed by the right answer. Download the Economics Quiz Questions with Answers for Class 12 Pdf and prepare to help students understand the concept very well.

MCQ Questions for Class 12 Microeconomics with Answers: Indian Economic Development


Question 1.

Which of the following industry was not reserved for the government in Industrial Policy Resolution, 1956?

(i) Iron and steel
(ii) Transport
(iii) Atomic energy
(iv) Railway transport

(i) Iron and steel


Question 2.

Which of the following is the main objective of carrying out various economic activities?

(i) Profit
(ii) Public welfare
(iii) Competition
(iv) Equality

(ii) Public welfare


Question 3.

When was the Planning Commission set up in India?

(i) 1952
(ii) 1950
(iii) 1964
(iv) 1975

(ii) 1950


Question 4.

When was NITI Aayog established?

(i) 1991
(ii) 2001
(iii) 2011
(iv) 2015

(iv) 2015


Question 5.

Which of the following had been responsible for the heavy burden of the deal and its interest?

(i) BOP deficit
(ii) BOP surplus
(iii) Equilibrium
(iv) None of these

(i) BOP deficit


Question 6.

Who was the Chairperson of the Planning Commission of India?

(i) President of India
(ii) Finance Minister of India
(iii) Prime minister of India
(iv) Governor of RBI

(iii) Prime minister of India


Question 7.

Which of the following is the main objective of carrying out various economic activities?

(i) Profit
(ii) Public welfare
(iii) Competition
(iv) Equality

(ii) Public welfare


Question 8.

What is needed to provide protection against natural calamities like floods, drought, locusts, thunderstorms, etc.?

(i) Multiple cropping
(ii) Green revolution
(iii) Crop insurance
(iv) HYV

(iii) Crop insurance


Question 9.

In the language of economics, what is a good-indicator of economic growth?

(i) GDP
(ii) NDP
(iii) GNP
(iv) NNP

(i) GDP


Question 11.

How many industries have been reserved for the public sector under Industrial Policy Resolution, 1956?

(i) 17
(ii) 21
(iii) 15
(iv) 2

(i) 17


Question 12.

Name the two states in which land-reform was successful?

(i) Maharashtra and Tamil Nadu
(ii) Karnataka and West Bengal
(iii) Uttar Pradesh and Bihar
(iv) West Bengal and Kerala

(iv) West Bengal and Kerala


Question 13.

In which year, Industrial Policy Resolution was adopted?

(i) 1956
(ii) 1950
(iii) 1965
(iv) 1953

(i) 1956


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