MODEL QUESTIONS

Part-A Multiple Choice Questions

1. ‘Economics is a study of mankind in 5. Find the odd one out:

the ordinary business of life’ -It is the a. “An inquiry into the nature and the
statement of causes of the Wealth of Nations”
a. Adam Smith b. “Principles of Economics”
b. Lionel Robbins c. “Nature and Significance of
c. Alfred Marshall Economic Science”
d. Samuelson d. “Ceteris paribus”

2. The basic problem studied in 6. The equilibrium price is the price at

Economics is which
a. Unlimited wants a. Everything is sold
b. Unlimited means b. Buyers spend their money
c. Scarcity c. Quantity demanded equals
d. Strategy to meet all our wants quantity supplied
d. Excess demand is zero
3. Microeconomics is concerned with
a. The economy as a whole 7. Author of “An Inquiry into the Nature
and Causes of Wealth of Nations”
b. Different sectors of an economy
a. Alfred Marshall
c. The study of individual economic
units behaviour b. Adam Smith

d. The interactions within the entire c. Lionel Robbins

economy d. Paul A Samuelson

4. Which of the following is a 8. “Economics studies human behaviour

microeconomics statement? as a relationship between ends and
a. The real domestic output increased scarce means which have alternative
by 2.5 percent last year. uses” is the definition of economics of

b. Unemployment was 9.8 percent of a. Lionel Robbins

the labour force last year. b. Adam Smith
c. The price of wheat determines its c. Alfred Marshall
demand d. Paul A Samuelson
d. The general price level increased
by 4 percent last year.

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 9. Who is the Father of Economics? c. Economics is the study of material
a. Max Muller welfare

b. Adam Smith d. Economics deals with unlimited

wants and limited means
c. Karl Marx
14. Growth definition takes into account
d. Paul A Samuelson
a. The problem of choice in the
10. “Economics is a science” The basis of dynamic framework of Economics
this statement is—
b. The problem of unlimited means
a. Relation between cause and effect in relation to wants
b. Use of deductive method and c. The production and distribution of
inductive method for the wealth
formations of laws
d. The material welfare of human
c. Experiments beings
d. All of the above
15. Which theory is generally included
11. Utility means under micro economics ?
a. Equilibrium point at which a. Price Theory
demand and supply are equal b. Income Theory
b. Want-satisfying capacity of goods c. Employment Theory
and services
d. Trade Theory
c. Total value of commodity
16. ....................... have exchange value
d. Desire for goods and services
and their ownership rights can be
12. A market is established and exchanged
a. Only a place to buy things a. Goods
b. Only a place to sell things b. Services
c. Only a place where prices adjust c. Markets
d. A system where persons buy and d. Revenue
sell goods directly or indirectly
17. Identify the correct characteristics of
13. Which one of the following is not utility
a point in the Welfare Definition of a. It is equivalent to ‘usefulness’
Economics?
b. It has moral significance
a. Study of an ordinary man
c. It is same as pleasure
b. Economics does not focus on
wealth alone d. It depends upon consumer’s
mental attitude

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 18. Who has given scarcity definition of b. Inductive method
economics? c. Positive economics
a. Adam Smith d. Normative economics
b. Marshall
20. Total revenue is equal to total output
c. Robbins sold multiplied by
d. Robertson a. Price
19. The process of reasoning from b. Total cost
particular to general is c. Marginal revenue
a. Deductive method d. Marginal cost

Answers Part-A

1 2 3 4 5 6 7 8 9 10
c c c c d c b a b d
11 12 13 14 15 16 17 18 19 20
b d d a a a d c b a

Part-B Answer the following questions in one or

two sentences.

21. What is meant by Economics? 25. Name any two types of utility.

22. Define microeconomics. 26. Define positive economics.

23. What are goods? 27. Give the meaning of deductive

method.
24. Distinguish goods from services.

Part-C Answer the following questions in one paragraph.

28. Explain the scarcity definition of 31. What are the different features of
Economics and assess it. services?

29. What are the crucial decisions involved 32. What are the important features of utility?
in ‘what to produce?’
33. Distinguish between microeconomics
30. Explain different types of economic and macroeconomics.
activities.
34. Compare positive economics and
normative economics.

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 MODEL QUESTIONS

Part-A Multiple Choice Questions

1. Pick the odd one out 6. Gossen’s first law is known as.
a. Luxuries a. Law of equi-marginal utility.
b. Comforts b. Law of diminishing marginal
c. Necessaries utility

d. Agricultural goods c. Law of demand.

d. Law of Diminishing returns.
2. Choice is always constrained or
limited by the _____ of our resources. 7. The basis for the law of demand is
related to
a. Scarcity
a. Law of diminishing marginal
b. Supply
utility
c. Demand b. Law of supply
d. Abundance c. Law of equi-marginal utility.
3. The chief exponent of the Cardinal d. Gossen’s Law.
utility approach was
8. The concept of consumer’s surplus is
a. J.R.Hicks associated with
b. R.G.D.Allen a. Adam Smith
c. Marshall b. Marshall
d. Stigler c. Robbins
4. Marginal Utility is measured by using d. Ricardo
the formula of
9. Given potential price is Rs.250 and
a. TUn-TUn-1 the actual price is Rs.200. Find the
b. TUn-TUn+1 consumer surplus.
c. TUn+TUn+1 a. 375 b. 175
d. TUn-TUn+1 c. 200 d. 50

5. When marginal utility reaches zero, 10. Indifference curve approach is based
the total utility will be on
a. Minimum a. Ordinal approach
b. Maximum b. Cardinal approach
c. Zero c. Subjective approach
d. Negative d. Psychological approach

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 11. The concept of elasticity of demand 16. Indifference curve was first introduced
was introduced by by
a. Ferguson a. Hicks
b. Keynes b. Allen
c. Adam Smith c. Keynes
d. Marshall d. Edgeworth

12. Increase in demand is caused by 17. Elasticity of demand is equal to one

a. Increase in tax indicates
b. Higher subsidy a. Unitary Elastic Demand
c. Increase in interest rate b. Perfectly Elastic Demand
d. decline in population c. Perfectly Inelastic Demand

13. The movement on or along the given d. Relatively Elastic Demand

demand curve is known as____
18. The locus of the points which gives
a. Extension and contraction of same level of satisfaction is associated
demand. with
b. shifts in the demand. a. Indifference Curves
c. increase and decrease in demand. b. Cardinal Analysis
d. all the above c. Law of Demand
14. In case of relatively more elastic d. Law of Supply
demand the shape of the curve is
19. Ordinal Utility can be measured by
a. Horizontal
a. Ranking
b. Vertical
b. Numbering
c. Steeper
c. Wording
d. Flatter
d. None of these
15. A consumer is in equilibrium when
marginal utilities from two goods are 20. The indifference curves are
a. Minimum a. vertical
b. Inverse b. horizontal
c. Equal c. positive sloped
d. Increasing d. Negatively sloped

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 MODEL QUESTIONS

Part-A Multiple Choice Questions

1. The primary factors of production

are:
a. Labour and Organisation
6. The functional relationship between
b. Labour and Capital
“inputs” and “outputs” is called as
c. Land and Capital
a. Consumption Function
d. Land and Labour.
b. Production Function
2. The man-made physical goods used to c. Savings Function
produce other goods and services are
d. Investment Function
referred to as.
a. Land b. Labour 7. In a firm 5 units of factors produce
24units of the product. When the
c. Capital d. Organization.
number of factor increases by one,
3. Formula for calculating AP is the production increases to 30 units.
Calculate the Avarage Product.
a. ΔTP/N
a. 30
b. ΔTP/ΔN
b. 6
c. TP/MP
c. 5
d. TP/N
d. 24
4. Which factor is called the changing
agent of the Society 8. The short-run production is studied
through
a. Labourer
a. The Laws of Returns to Scale
b. Land
b. The Law of Variable Proportions
c. Organizer
c. Iso-quants
d. Capital
d. Law of Demand
5. Who said, that one of the key
of an entrepreneur is “uncertainty- 9. The long-run production function is
bearing”. explained by
a. J.B.Clark a. Law of Demand
b. Schumpeter b. Law of Supply
c. Knight c. Returns to Scale
d. Adam Smith d. Law of Variable Proportions

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 10. An Iso-quant curve is also known as 16. Modern economists have propounded
a. Inelastic Supply Curve the law of
b. Inelastic Demand Curve a. Increasing returns
c. Equi-marginal Utility b. decreasing returns
d. Equal Product Curve c. Constant returns
11. Mention the economies reaped from d. variable proportions.
inside the firm
a. financial 17. Producer’s equilibrium is achieved at
b. technical the point where:
c. managerial a. Marginal rate of technical
d. all of the above substitution(MRTS) is greater than
the price ratio
12. Cobb-Douglas production function
assumes b. MRTS is lesser than the price
ratio
a. Increasing returns to scale
b. Diminishing returns to scale c. MRTS and price ratio are equal to
each other
c. Constant returns to scale
d. All of the above d. The slopes of isoquant and isocost
lines are different.
13. Name the returns to scale when the
output increases by more than 5%, for
a 5% increase in the inputs, 18. The relationship between the price
of a commodity and the supply of
a. Increasing returns to scale
commodity is
b. decreasing returns to scale
a. Negative
c. Constant returns to scale
b. Positive
d. All of the above
c. Zero
14. Which of the following is not a
characteristic of land? d. Increase
a. Its limited supply. 19. If average product is decreasing, then
b. It is mobile marginal product
c. Heterogeneous a. must be greater than average
d. Gift of Nature product
15. Product obtained from additional b. must be less than average product
factors of production is termed as
c. must be increasing
a. Marginal product
d. both a and c
b. Total product
c. Average product
d. Annual product

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 20. A production function measures
the relation between
a. input prices and output prices c. the quantity of inputs and the
b. input prices and the quantity of output quantity of output.
d. the quantity of inputs and input
prices.

Part-A Answers

1 2 3 4 5 6 7 8 9 10
d C d c c b c b c d
11 12 13 14 15 16 17 18 19 20
d C a b a a c b b c

Part-B 
Answer the following questions in one or
two sentences.
21. Classify the factors of production.
22. Define Labour.
23. State the production function.
24. Define Marginal Product of a factor.
25. What is Iso-cost line?
26. What are the conditions for producer’s equilibrium?
27. What are the reasons for upward sloping supply curve?

Part-C Answer the following questions in one paragraph.

28. What are the characteristics of land?

29. What are the factors governing elasticity of supply?
30. What are the functions of Entrepreneur?
31. State and explain the elasticity of supply.
32. Bring out the Relationship among Total, Average and Marginal Products.
33. Illustrate the concept of Producer’s Equilibrium.
34. State the Cobb-Douglas Production Function.

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 MODEL QUESTIONS

Part-A Multiple Choice 6. The costs of self–owned resources are

Questions termed as ________ cost.

1. Cost refers to ________ a. real

a. price b. explicit
b. value c. money
c. fixed cost d. implicit
d. production 7. The cost that remains constant at all
2. Cost functions are also known as levels of output is _______ cost.
_______________ function. a. fixed
a. production
b. variable
b. investment
c. real
c. demand
d. social
d. consumption
8. Identify the formula of estimating
3. Money cost is also known as average variable cost.
____________ cost.
a. TC/Q
a. explicit
b. TVC/Q
b. implicit
c. TFC/Q
c. social
d. real d. TAC/Q
9. The cost incurred by producing one
4. Explicit cost plus implicit cost denote
more unit of output is______cost.
___________ cost.
a. variable
a. social
b. economic b. fixed

c. money c. marginal
d. fixed d. total

5. Explicit costs are termed as 10. The cost that varies with the level of
output is termed as _______ cost.
a. out of pocket expenses
a. money
b. real cost
b. variable cost
c. social cost
c. total cost
d. sunk cost
d. fixed cost
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 11. Wage is an example for ________ 16. Revenue received from the sale of
cost of the production. products is known as _______ revenue.
a. fixed a. profit
b. variable b. total
c. marginal c. average
d. opportunity d. marginal

12. The cost per unit of output is denoted 17. Revenue received from the sale of
by _________ cost. additional unit is termed as ________
a. average revenue.

b. marginal a. profit

c. variable b. average

d. total c. marginal
d. total
13. Identify the formula of estimating
average cost. 18. Marginal revenue is the addition made
a. AVC/Q to the

b. TC/Q a. total sales

c. TVC/Q b. total revenue

d. AFC/Q c. total production

d. total cost
14. Find total cost where TFC=I00 and
TVC = 125. 19. When price remains constant, AR will
a. 125 be ________ MR.

b. 175 a. equal to

c. 225 b. greater than

d. 325 c. less than

d. not related to
15. Long-run average cost curve is also
called as __________ curve. 20. A book seller sold 40 books with the
a. demand price of ₹10 each. The total revenue of
the seller is ₹___________.
b. planning
a. 100
c. production
b. 200
d. sales
c. 300
d. 400

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 MODEL QUESTIONS

Part-A Multiple Choice Questions

1. Which of the following is a market 6. Profit of a firm is obtained when

structure where the Price is expected ……………..
to be lower? a. TR < TC
a. Perfect competition b. TR - MC
b. Monopoly c. TR > TC
c. Duopoly d. TR = TC
d. Oligopoly
7. Another name of price is……………..
2. Equilibrium condition of a firm is...... a. Average Revenue
a. MC = MR b. MC > MR b. Marginal Revenue
c. MC < MR d. MR = Price c. Total Revenue
3. Which of the following is a feature of d. Average Cost
monopolistic competition?
8. In which type of market, AR and MR
a. One seller are equal …..
b. Few sellers a. Duopoly
c. Product differentiation b. Perfect competition
d. No entry c. Monopolistic competition
4. A firm under monopoly can earn d. Oligopoly
…………. in the short run.
9. In monopoly, MR curve lies below
a. Normal profit
………….
b. Loss
a. TR
c. Super normal profit
d. More loss b. MC
c. AR
5. There is no excess capacity under
………………… d. AC
a. Monopoly 10. Perfect competition assumes …………
b. Monopolistic competition a. Luxury goods
c. Oligopoly b. Producer goods
d. Perfect competition c. Differentiated goods
d. Homogeneous goods

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 11. Group equilibrium is analysed in 16. The average revenue curve under
……. monopolistic competition will be……
a. Monopolistic competition a. Perfectly inelastic
b. Monopoly b. Perfectly elastic
c. Duopoly c. Relatively elastic
d. Pure competition d. Unitary elastic

12. In monopolistic competition, the 17. Under perfect competition, the shape
essential feature is ..… of demand curve of a firm is...............
a. Same product a. Vertical
b. selling cost b. Horizontal
c. Single seller c. Negatively sloped
d. Single buyer d. Positively sloped

13. Monopolistic competition is a form of 18. In which market form, does absence
.……. of competition prevail?
a. Oligopoly a. Perfect competition
b. Duopoly b. Monopoly
c. Imperfect competition c. Duopoly
d. Monopoly d. Oligopoly

14. Price leadership is the attribute of 19. Which of the following involves
………… maximum exploitation of consumers?
a. Perfect competition a. Perfect competition
b. Monopoly b. Monopoly
c. Oligopoly c. Monopolistic competition
d. Monopolistic competition d. Oligopoly

15. Price discrimination will always lead 20. An example of selling cost is …
to…………. a. Raw material cost
a. Increase in output b. Transport cost
b. Increase in profit c. Advertisement cost
c. Different prices d. Purchasing cost
d. b and c

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 3. Wages – Wages are the reward for labour. 8. Money wage – Money wage is the
4. Interest – Interest is the price paid remuneration received by a labourer
for the use of capital. in terms of money.
5. Profit – Profit is the reward for 9. Real wage – Real wage is the
organisation or entrepreneurship. purchasing power of the money
wages in terms of goods and
6. Quasi-Rent – Quasi-Rent is the
services.
surplus earned by man-made
appliances and instruments of 10. Loanable fund – Loanable fund is
production in the short-period. that part of capital meant for loan.
7. Transfer earnings – Transfer earnings 11. Innovation – Invention put into
refer to minimum payment payable to commercial practice.
a factor to retain it in its present use.

MODEL QUESTIONS

PART – A

1. In Economics, distribution of income 3. Rent is the reward for the use of

is among the a. capital
a. factors of production b. labour
b. individual c. land
c. firms d. organization
d. traders
4. The concept of ‘Quasi-Rent’ is
2. Theory of distribution is popularly associated with
known as, a. Ricardo
a. Theory of product-pricing b. Keynes
b. Theory of factor-pricing c. Walker
c. Theory of wages d. Marshall
d. Theory of Interest

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 5. The Classical Theory of Rent was c. interest
propounded by d. profit
a. Ricardo
11. Keynesian Theory of interest is
b. Keynes popularly known as
c. Marshall a. Abstinence Theory
d. Walker b. Liquidity Preference Theory
6. ‘Original and indestructible powers of c. Loanable Funds Theory
the soil’ is the term used by
d. Agio Theory
a. J.S.Mill
12. According to the Loanable Funds
b. Walker Theory, supply of loanable funds is
c. Clark equal to
d. Ricardo a. S + BC + DH + DI
b. I + DS + DH + BM
7. The reward for labour is
c. S + DS + BM + DI
a. rent
d. S + BM + DH + DS
b. wage
c. profit 13. The concept of meeting unexpected
expenditure according to Keynes is
d. interest
a. Transaction motive
8. Money wages are also known as
b. Precautionary motive
a. real wages
c. Speculative motive
b. nominal wages
d. Personal motive
c. original wages
14. The distribution of income or wealth
d. transfer wages
of a country among the individuals are
9. Residual Claimant Theory is a. functional distribution
propounded by b. personal distribution
a. Keynes c. goods distribution
b. Walker d. services distribution
c. Hawley
15. Profit is the reward for
d. Knight
a. land
10. The reward given for the use of capital b. organization
a. rent c. capital
b. wage d. labour

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 16. Innovation Theory of profit was given by c. Walker
a. Hawley d. J.S.Mill
b. Schumpeter 19. Abstinence Theory of Interest was
c. Keynes propounded by
d. Knight a. Alfred Marshall
17. Quasi-rent arises in b. N.W Senior

a. Man-made appliances c. Bohm-Bawerk

b. Homemade items d. Knut Wicksell

c. Imported items 20. Loanable Funds Theory of Interest is

d. None of these called
a. Classical Theory
18. “Wages as a sum of money are paid under
contract by an employer to a worker for b. Modern Theory
services rendered” –Who said this? c. Traditional Theory
a. Benham d. Neo-Classical Theory
b. Marshall

Part- A Answers

1 2 3 4 5 6 7 8 9 10
a b c d a d b b b c
11 12 13 14 15 16 17 18 19 20
b a b b b b a a b d

PART – B Answer the following questions in one or two

sentences.

21. What is meant by distribution? 25. What do you mean by interest?

22. Mention the types of distribution. 26. What is profit?
23. Define ‘Rent’. 27. State the meaning of liquidity
preference.
24. Distinguish between real and money
wages.

Part-C Answer the Following Questions in a Paragraph

28. What are the motives of demand for 29. List out the kinds of wages.
money?
30. Distinguish between rent and quasi-rent.

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 MODEL QUESTIONS

Part-A Multiple Choice Questions

1. The main gold mine region in 6. The weakness of Indian Economy is

Karnataka is ……….. …….
a. Kolar a. Economic disparities
b. Ramgiri b. Mixed economy
c. Anantpur c. Urbanisation
d. Cochin d. Adequate employment
2. The measure of economic growth of a opportunities
country is indicated by …..
7. A scientific study of the characteristics
a. GNP b. GDP of population is ….
c. NNP d. Per capita income a. Topography
3. Which one of the following is a b. Demography
developed nations ?
c. Geography
a. Mexico
d. Philosophy
b. Ghana
8. The year 1961is known as …..
c. France
a. Year of small divide
d. Sri Lanka
b. Year of Population Explosion
4. The position of Indian Economy
among the other strongest economies c. Year of Urbanisation
in the world is .. d. Year of Great Divide
a. Fourth
9. In which year the population of India
b. Seventh crossed one billion mark ?
c. Fifth a. 2000 b. 2001
d. Tenth c. 2005 d. 1991
5. Mixed economy means …… 10. The number of deaths per thousand
a. Private sectors and banks population is called as …
b. Co-existence of Public and Private a. Crude Death Rate
sectors b. Crude Birth Rate
c. Public sectors and banks c. Crude Infant Rate
d. Public sectors only d. Maternal Mortality Rate

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 11. The number of births per thousand 16. The problem studied by Ambedkar in
population is called as the context of Indian Economy is …….
a. Crude death rate a. Small land holdings and their
b. Mortality rate remedies

c. Morbidity rate b. Problem of Indian Currency

d. Crude Birth Rate c. Economics of socialism

d. All of them
12. Density of population =
a. Land area / Total Population 17. Gandhian Economics is based on the
Principle
b. Land area / Employment
a. Socialistic idea
c. Total Population / Land area of the
region b. Ethical foundation

d. Total Population / Employment c. Gopala Krishna Gokhale

d. Dadabhai Naoroji
13. Who introduced the National
Development Council in India? 18. V.K.R.V Rao was a student of
a. Ambedkar a. J.M. Keynes
b. Jawaharlal Nehru b. Colin Clark
c. Radhakrishanan c. Adam smith
d. V.K.R.V. Rao d. Alfred Marshal

14. Who among the following propagated 19. Amartya Kumara Sen received the
Gandhian Ecomomic thinkings. Nobel prize in Economics in the year
a. Jawaharlar Nehru a. 1998
b. VKRV Rao b. 2000
c. JC Kumarappa c. 2008
d. A.K.Sen d. 2010

15. The advocate of democratic socialism 20. Thiruvalluvar's economic ideas

was mainly dealt with
a. Jawaharlal Nehru a. Wealth
b. P.C. Mahalanobis b. Poverty is the curse in the society
c. Dr. Rajendra Prasad c. Agriculture
d. Indira Gandhi d. All of them

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 „ Nationalisation: The process of education and per capita income
transferring private assets ownership to indicators.
government ownership. „ Physical Quality of Life Index: It is a
„ Human Development Index: It is a measure to calculate the quality of life
composite statistic of life expectancy, (well being of people of a country).

MODEL QUESTIONS

Part-A Multiple Choice Questions

1. The arrival of Vasco da Gama in 4. Ryotwari system was initially

introduced in
Calicut, India
a. Kerala
a. 1498
b. Bengal
b. 1948 c. Tamil Nadu
c. 1689 d. Maharastra
d. 1849 5. First World War started in the year
a. 1914
2. In 1614 Sir Thomas Roe was successful
b. 1814
in getting permission from
c. 1941
a. Akbar
d. 1841
b. Shajakan
6. When did the Government of India
c. Jahangir declare its first Industrial Policy ?

d. Noorjakhan a. 1956
b. 1991
3. The power for governance of India
c. 1948
was transferred from the East India
d. 2000
Company (EIC) to the British crown in
7. The objective of the Industrial Policy
a. 1855 1956 was ……..
b. 1858 a. Develop heavy industries

c. 1868 b. Develop agricultural sector only

c. Develop private sector only
d. 1878
d. Develop cottage industries only

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 8. The industry which was de-reserved 13. In the first five year plan, The top
in 1993 ? priority was given to ……. Sector.
a. Railways a. Service
b. Mining of copper and zinc b. Industrial
c. Atomic energy c. Agriculture
d. Atomic minerals d. Bank

9. The father of Green Revolution in 14. Tenth Five year plan period was…….
India was ………… a. 1992-1997
a. M.S. Swaminathan b. 2002-2007
b. Gandhi c. 2007-2012
c. Visweswaraiah d. 1997-2002
d. N.R. Viswanathan 15. According to HDR (2016), India
ranked …… out of 188 countries.
10. How many commercial banks were
nationalised in 1969 ? a. 130 b. 131

a. 10 c. 135 d. 145

b. 12 16. Annual Plans formed in the year

c. 14 ……….

d. 16 a. 1989-1991
b. 1990-1992
11. The main objective of nationalisation
of banks was ……. c. 2000-2001
d. 1981-1983
a. Private social welfare
b. Social welfare 17. The Oldest large scale industry in
India
c. To earn
a. cotton b. jute
d. Industries monopoly
c. steel d. cement
12. The Planning Commission was setup
18. Human development index (HDI) was
in the year …..
developed by
a. 1950
a. Jawaharlal Nehru
b. 1955
b. M.K. Gandhi
c. 1960
c. Mahbub ul Haq and Amartiya Sen
d. 1952
d. Tagore

Indian Economy 186

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 19. The main theme of the Twelth Five 20. The PQLI was developed by
Year Plan …………….
a. faster and more inclusive growth a. Planning Commission
b. growth with social Justice b. Nehru
c. socialistic pattern of society c. Morris
d. faster, more inclusive and D Biswajeet
sustainable growth

Part-A Answers

1 2 3 4 5 6 7 8 9 10
a c b c a c a b a c
11 12 13 14 15 16 17 18 19 20
b a c b b b a c d c

Part-B 
Answer the following questions in one or two
sentences.

21. What are the Phases of colonial 25. What are the objectives of Tenth five
exploitation of India? year plan ?

22. Name the different types of land tenure 26. What is the difference between HDI
existed in India before Independence. and PQLI ?

23. State the features that distinguish a 27. Mention the indicators which are used
land tenure system from other system. to calculate HDI.

24. List out the weaknesses Green

Revolution.

Part-C Answer the following questions in one paragraph.

28. Explain the Period of Merchant 31. State the reasons for nationalization of
Capital. commercial banks.

29. The Handicrafts declined in India in 32. Write any three objectives of Industrial
British Period. Why? Policy 1991.

30. Elucidate the different types of land 33. Give a note on Twelfth Five Year Plan.
tenure system in colonial India.
34. What is PQLI ?

187 Indian Economy

Chapter-08.indd 187 1/2/2023 11:52:20 AM