Indian Economy
Quiz
1. An underdeveloped economy is characterized by
a. High per capita real income
b. Large proportion of labor force in the tertiary sector
c. State of deprivation of large proportion of population
d. All the above
Ans: c
2. Identify which is not the characteristics of underdevelopment.
a. Foreign trade Orientation
b. Population pressure and Unemployment
c. High level of industrialization
d. Capital Deficiency
Ans : c
3. Coexistence of two sizeable sectors, usually rural and urban, that produce goods and
services in an economy – Identify the term
a. Dualistic economy
b. Command economy
c. Market economy
d. Traditional economy
Ans: a
4. Figure out which is not an obstacle to economic development.
a. Vicious circle of Poverty
b. Market Imperfections
c. Human capital
d. Low rate of capital formation
Ans: c
5. Economic development does not include:
a. Structural change in the economy
b. Better methods of production and innovation
c. Increase in country’s GDP
d. Change in the occupational structure
Ans : C
6. Which of Rostow's stages involve primarily agricultural production?
a. Traditional society
b. Preconditions for takeoff
