Please refer to the following Indian Economy (1950 – 1990) Class 11 Economics MCQ Questions. These multiple choice questions have been prepared based on the latest examination pattern, NCERT book and syllabus issued by CBSE, NCERT and KVS. Students should go through all MCQ Questions for Class 11 Economics with answers as they will help them to prepare for the exams.
Indian Economy (1950 – 1990) Class 11 Economics MCQ Questions
Question. Self –reliance means avoiding:
(a) Exports
(b) imports
(c) Both (a) and (b)
(d)None of the above.
Answer
B
Question. A good indicator of growth is steady increase in the :
(a) Gross Domestic Product
(b) Net Domestic Product
(c) Population
(d) National income.
Answer
A
Question. Which factor led to the breaking up of the stagnation of agriculture?
(a)Land reforms
(b) Green Revolution
(c) Buffer stocks
(d) Land ceiling.
Answer
A
Question. When was first five-year plan introduced? Answer
(a) 1st April ,1950
(b) 1st April, 1951
(c) 1st April,1952
(d) 31st March, 1950
Answer
B
Question. The common goals of the five year plans are : Answer:
(a) Modernisation
(b) Growth
(C) Self –reliance
(d) All of the above.
Answer
D
Question. The economic system adopted by India is
(a) Capitalistic
(b) Socialistic
(c) Mixed Economy
(d) None of these
Answer
c
Question. When was Planning Commission setup?
(a) 1949
(b) 1950
(c) 1956
(d) 1850
Answer
B
Question. The share of agricultural sector in India’s GDP has tended to:
(a) Decline
(b) Rise
(c) Remain constant
(d) First decline then increase
Answer
A
Question. Equity as a goal of planning aims to achieve the following objectives:
(a) Reduction in economic inequalities
(b) Curbing concentration of economic power
(c) Uplifting the weaker sections of the society
(d) All of the above
Answer
D
Question. Which of the following is not a goal of perspective plans in India?
(a) GDP Growth
(b) Equity
(c) Land reforms
(d) Self-reliance
Answer
C
Question. In which economy means of production are owned, controlled and operated by the Government?
(a) Mixed Economy
(b) Socialist Economy
(c) Capitalist Economy
(d) None of these
Answer
B
Question. In a Capitalist Economy means of production are owned, controlled and operated by:
(a) Private sector
(b) Public sector
(c) External sector
(d) Both (a) and (b)
Answer
A
Question. In which year was India’s First Five Year Plan launched?
(a) 1951–56
(b) 1952–57
(c) 1947–52
(d) 1950–55
Answer
A
Question. Which Five Year Plan was implemented during the year 2012–17?
(a) Eighteenth
(b) Ninth
(c) Eleventh
(d) Twelfth
Answer
D
Question. Name the body/institution which was engaged in the formulation of Five Year Plans in India.
(a) Planning Commission
(b) Election Commission
(c) National Development Commission
(d) None of these
Answer
A
Question. A _________ 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.
Answer
Capitalist
Question. ___________ 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.
Answer
Socialist
Question. A ______________ economy is a system in which both private and public sector co-exist and both work under the general guidance of an economic planning.
Answer
Mixed economy
Question. The Planning Commission in India was constituted in the year __________ under the chairmanship of Pt. Jawaharlal Nehru.
Answer
1950
Question. Long term plan is also termed as __________ plan.
Answer
Perspective
Question. Short period objectives of planning are for the term of __________ years.
Answer
Five
Question. __________ is regarded as the architect of Indian planning. Prof. P.C.
Answer
Mahalanobis
Question. __________ refers to an increase in country’s productive capacity and is measured by increase in real per capita GDP.
Answer
Economic growth
Question. With the process of development, the share of __________ sector in GDP declines whereas the share of industry and service sector increases.
Answer
Agriculture
Question. What do you mean by mixed economy?
Answer
A mixed economy is an economy in which both private and public sector co-exist and both work under the general guidance of economic planning.
Question. What is the main function of NITI Aayog?
Answer
NITI Aayog is a policy think-tank of government of India that aims to involve the states in economic policy-making in India.
Question. What is the basic difference between Planning Commission and NITI Aayog?
Answer
NITI Aayog will be providing strategic and technical advice to the Central and the state
governments i.e. by adopting bottom-up approach rather than traditional top-down appraoch as adopted by the Planning Commission.
Question. When was NITI Aayog formed?
Answer
NITI Aayog was formed on January 1, 2015.
Question. What type of economic system was accepted in post-independent India?
Answer
The post-independent India chose the path of mixed economy for her development
Question. When was India’s Planning Commission constituted and who was its first chairman?
Answer
The planning commission in India was constituted in March 1950 under the chairmanship of Pt. Jawaharlal Nehru
Question. Who is regarded as the architect of Indian planning?
Answer
Prof. P.C. Mahalanobis is regarded as the architect of Indian planning.
Question. List the long-term objectives of Indian planning.
Answer
Rapid economic growth, Equity; Self- reliance; Modernisation; Full employment.
Question. What is economic planning?
Answer
Economic planning is essentially a way of organising and utilising resources to the maximum advantage in terms of defined social ends.
Question. What are the three main dimensions of the objective of social and economic justice?
Answer
(i) Reduction in economic inequalities
(ii) Curbing concentration of economic power
(iii) Uplifting the weaker sections of the society
Question. What is meant by self-reliance?
Answer
Self-reliance implies avoiding dependence on imports of those goods which could be produced in the country itself.
