Socialism in India NDA Questions

NDA Indian Polity

Socialism in India MCQ Questions


1.
Socialism is best defined as a political and economic philosophy advocating that the means of production, distribution and exchange should be owned or controlled by:
A.
Religious institutions exclusively
B.
Foreign multinational corporations
C.
A single hereditary monarch
D.
The community/society as a whole, rather than private individuals
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ANSWER :
D. The community/society as a whole, rather than private individuals
2.
The primary objective of socialism is generally to achieve:
A.
Complete isolation from world trade
B.
Uniform religious observance
C.
Social and economic equality
D.
Maximum individual profit, regardless of inequality
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ANSWER :
C. Social and economic equality
3.
Socialism, as a political philosophy, seeks to remove the exploitation of one class of society by:
A.
Foreign governments only
B.
Religious minorities only
C.
International organisations only
D.
Another class
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ANSWER :
D. Another class
4.
Which of the following is generally NOT considered a core aim of socialism?
A.
Redistributing wealth
B.
Maximising unrestricted individual profit
C.
Reducing income inequality
D.
Promoting collective welfare
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ANSWER :
B. Maximising unrestricted individual profit
5.
'State socialism' or 'communistic socialism' typically involves the complete nationalisation of:
A.
Only agricultural land
B.
Only the education system
C.
All means of production and distribution
D.
Only the banking sector
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ANSWER :
C. All means of production and distribution
6.
'Democratic socialism', the model generally associated with India, is characterised chiefly by faith in a:
A.
Mixed economy, combining both public and private sectors
B.
Purely unregulated free-market economy
C.
Purely state-owned command economy
D.
Barter-based tribal economy
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ANSWER :
A. Mixed economy, combining both public and private sectors