Indian Economy Quiz:

Consider the following about factors of production:
I. The first factor of production is land and other natural resources such as water, forests, minerals.
II. The physical capital can be fixed capital or working capital.
III. The fixed capital are used up in production unlike the working capital.
Which of the statements given above is/are correct?

(A) I and II only
(B) II only
(C) II and III
(D) None of the above

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ANSWER – A

Explanation:

The first factor of production is land and other natural resources such as water, forests, minerals.
Other factors of production are labour, physical capital and enterprise.
The physical capital can be fixed capital or working capital.
The working capital like raw material and money are used up in production unlike the fixed capital like tools, machines and buildings.

The Green Revolution introduced the farmers to

(A) Cultivation of wheat and rice
(B) Cultivation of wheat and green vegetables
(C) Cultivation of wheat and pulses
(D) Cultivation of wheat, pulses and rice

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ANSWER – A

Which of the following statement is/ are not correct?
I. Unemployment is said to exist when people who are willing to work at the going wages cannot find jobs.
II. Secondary sector faces the problem of seasonal unemployment.
III. Tertiary sector is the most labour absorbing sector of the economy.
Mark the correct code:

(A) I, II, and III
(B) II and III
(C) I and II
(D) Only III

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ANSWER – B

Explanation:

Unemployment is said to exist when people who are willing to work at the going wages cannot find jobs.
Agriculture sector faces the problem of seasonal unemployment.
Agriculture sector is the most labour absorbing sector of the economy.

The most abundant factor of production is

(A) Labour
(B) Land
(C) Machinery
(D) All of the above

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ANSWER – A

Multiple Cropping refers to :

(A) Cultivation of wheat and rice
(B) Cultivation of two crops in alternate rows
(C) Cultivating more than one crop on the same field each year
(D) Cultivating crops and rearing animals on the same farm

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ANSWER – C

Explanation:

To grow more than one crop on a piece of land during the year is known as multiple cropping.
It is the most common way of increasing production on a given piece of land.
All farmers in Palampur grow atleast two main crops; many are growing potato as the third crop in the past fifteen to twenty years.

Working capital stands for:

(A) Raw materials and money in hand
(B) Total share capital
(C) Fixed deposits in financial institutions
(D) All of the above

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ANSWER – A

With reference to disguised unemployment consider the following statements:
1. In case of disguised unemployment people appear to be employed.
2. The work requires the service of eight people but engages five people.
3. If the people who are disguised unemployed are removed the productivity of the field will decline.
Which of the statements given above is/are not correct?

(A) 1 only
(B) 2 only
(C) 2 and 3 only
(D) 3 only

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ANSWER – C

Explanation

In case of disguised unemployment people appear to be employed. They have agricultural plot where they find work. This usually happens among family members engaged in agricultural activity.
The work requires the service of five people but engages eight people. Three people are extra. These three people also work in the same plot as the others.
The contribution made by the three extra people does not add to the contribution made by the five people. If three people are removed the productivity of the field will not decline. The field requires the service of five people and the three extra people are disguised unemployed.

Which of the following is a modern farming method?

(A) Multiple cropping
(B) Use of HYV seeds
(C) Use of chemical fertilisers
(D) Both (b) and (c)

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ANSWER – D

Match List 1 and List 2 and choose the correct answer
LIST 1 A. Kharif Crop LIST 2 -1) Wheat
LIST 1 B. Rabi Crop LIST 2 - 2) Cucumber and pumpkin
LIST 1 C. Zaid Crop LIST 2 - 3) Jowar and Bajra
Code

(A) A-2 , B-3 , C-1
(B) A-1 , B-2 , C-3
(C) A-3 , B-1 , C-2
(D) A-2 , B-1 , C-3

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ANSWER – C

Infant mortality rate is the death of a child under

(A) One year
(B) Three, year
(C) Two year
(D) Five year

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ANSWER – A

Explanation

Infant mortality is the death of young children under the age of 1. This death toll is measured by the infant mortality rate (IMR), which is the probability of deaths of children under one year of age per 1000 live births.
The under-five mortality rate is referred to as the child mortality rate.

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