Check the below NCERT MCQ Questions for Class 12 Economics Chapter 2 Indian Economy 1950-1990 with Answers Pdf free download. MCQ Questions for Class 12 Economics with Answers were prepared based on the latest exam pattern. We have provided Indian Economy 1950-1990 Class 12 Economics MCQs Questions with Answers to help students understand the concept very well.
Indian Economy 1950-1990 Class 12 MCQs Questions with Answers
I. Choose the correct alternative.
Question 1.
In which of the following type of economy are resources owned privately and the main objective behind economic activities is profit-making?
(A) Capitalist
(B) Socialist
(C) Mixed
(D) Global
Answer
Answer: (A) Capitalist
Question 2.
Which of the following is the main objective of carrying out various economic activities?
(A) Profit
(B) Public welfare
(C) Competition
(D) Equality
Answer
Answer: (B) Public welfare
Question 3.
When was the National Development Council (NDC) set up as an adjunct to the Planning Commission?
(A) 1950
(B) 1969
(C) 1952
(D) 1979
Answer
Answer: (C) 1952
Question 4.
Which of the following had been responsible for the heavy burden of the deal and its interest?
(A) BOP deficit
(B) BOP surplus
(C) Equilibrium
(D) None of these
Answer
Answer: (A) BOP deficit
Question 5.
Agriculture sector contributed _______ percent to the GDP in 1990-91.
(A) 24.6
(B) 34.9
(C) 40.5
(D) 59.0
Answer
Answer: (B) 34.9
Question 6.
What is needed to provide protection against natural calamities like floods, drought, locusts, thunderstorms, etc.?
(A) Multiple cropping
(B) Green revolution
(C) Crop insurance
(D) HYV
Answer
Answer: (C) Crop insurance
Question 7.
Which of the following steps promoted the growth of the economy as a whole by stimulating the development of industrial and tertiary sectors?
(A) Independence
(B) Planning
(C) Colonial rule
(D) Green revolution
Answer
Answer: (B) Planning
Question 8.
How many industries have been reserved for the public sector under Industrial Policy Resolution, 1956?
(A) 17
(B) 21
(C) 15
(D) 2
Answer
Answer: (A) 17
II. Fill in the blanks with the correct answer.
Question 1.
The percentage of the total population below the poverty line has ________ in India since independence.
Answer
Answer: declined
Question 2.
_______ planning includes all spheres of economic and social activities.
Answer
Answer: Comprehensive
Question 3.
________ is the Chairman of the Planning Commission.
Answer
Answer: Prime Minister
Question 4.
________ economy is the framework of planning in India.
Answer
Answer: Mixed
Question 5.
Full employment and equitable distribution of income and wealth are the _______ period objectives of planning in India.
Answer
Answer: long
Question 6.
________ combined with social justice is the principal goal of planning in India.
Answer
Answer: Economic growth
Question 7.
Modernisation means adoption of new technology and a change in ________
Answer
Answer: social outlook
Question 8.
Planning in India started with a heavy reliance on the _______ sector.
Answer
Answer: Public
Question 9.
Land Reforms were introduced to make tillers the owners of the land and bring about _______ in agriculture.
Answer
Answer: equity
Question 10.
Import Substitution policy was introduced to protect ________ from foreign competition.
Answer
Answer: domestic industries
III. State whether the following statements are true or false.
Question 1.
In a capitalist economy, production takes place for selling the output in the market with profit as the primary motive.
Answer
Answer: True
Question 2.
Pt. Jawaharlal Nehru and many other leaders favoured capitalism for independent India.
Answer
Answer: False
Question 3.
President is the Chairman of the Planning Commission.
Answer
Answer: False
Question 4.
Pt. Jawaharlal Nehru is regarded as the architect of Indian planning.
Answer
Answer: False
Question 5.
Economic growth means equal opportunity to all and the removal of inequality in the distribution of income and wealth.
Answer
Answer: False
Question 6.
Land Reforms were introduced to make tillers the owners of the land.
Answer
Answer: True
Question 7.
The green revolution resulted in a marketable surplus of agricultural produce.
Answer
Answer: True
Question 8.
The private Sector comprises industries owned, controlled, and managed by the government with the aim of social welfare.
Answer
Answer: False
Question 9.
Under Industrial Policy Resolution (IPR), 1956, Category II of the industrial sector includes industries jointly owned and controlled by the private sector and the state.
Answer
Answer: True
Question 10.
Quotas are a tax on imported goods while tariffs specify the number of goods which can be imported.
Answer
Answer: False
IV. Match the following.
Question 1.
| Column-I | Column-II |
| 1. Demonetization | (A) 1950 |
| 2. Planning Commission | (B) 2015 |
| 3. NITI Aayog | (C) P. C. Mahalanobis |
| 4. First five-year plan | (D) 2016 |
| 5. Architect of Indian Planning | (E) 1967-68 |
| 6. Green Revolution | (F) 1951 |
| 7. Economic reforms in India | (G) Prime Minister |
| 8. Chairman of Planning Commission | (H) 2017 |
| 9. New Development Council | (I) 1991 |
| 10. GST | (J) 1952 |
Answer
Answer:
| Column-I | Column-II |
| 1. Demonetization | (D) 2016 |
| 2. Planning Commission | (A) 1950 |
| 3. NITI Aayog | (B) 2015 |
| 4. First five-year plan | (F) 1951 |
| 5. Architect of Indian Planning | (C) P. C. Mahalanobis |
| 6. Green Revolution | (E) 1967-68 |
| 7. Economic reforms in India | (I) 1991 |
| 8. Chairman of Planning Commission | (G) Prime Minister |
| 9. New Development Council | (J) 1952 |
| 10. GST | (H) 2017 |
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