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Nature of Indian Economy

19. 

The philosophy of Laissez-faire is associated with

A. Welfare State B. Socialist State C. Gandhian state D. Industrial State

Answer : D. Industrial State

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20. 

Which of the following is not a characteristics of Indian Economy

A. High rate of population growth B. Extensive disguised unemployment C. Low level of adult literacy D. high level of exports

Answer : D. high level of exports

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21. 

Globalisation of indian economy means

A. Giving up programmes of import substitution B. Stepping up external borrowings C. establishing indian business units abroad D. having minimum possible restrictions on economic relations with other countries

Answer : D. having minimum possible restrictions on economic relations with other countries

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22. 

On which of the following did the Mahalanobis Model lay greater emphasis for planned development in India after independence?

A. agriculture B. Development of heavy industries C. Generation of power D. Science and Technology

Answer : B. Development of heavy industries

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23. 

Who is known as father of economics ?

A. Max Muller B. Adam Smith C. Amritya Sen D. Joy Chaterjee

Answer : B. Adam Smith

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24. 

What type of Economy exists in India?

A. Socialist Economy B. Mixed economy C. Dual Economy D. Capitalist Economy

Answer : B. Mixed economy

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