Question : It is defined as making major economic decisions by the conscious decision of a determinate authority, on the basis of a comprehensive survey of the economy as a whole.
Option 1: Economic planning
Option 2: Mixed economy
Option 3: Socialist economy
Option 4: Capitalist economy
Correct Answer: Economic planning
Solution : Economic planning is defined as making major economic decisions by the conscious decision of a determinate authority, on the basis of a comprehensive survey of the economy as a whole. Hence Option A is correct.
Question : It aim was to transform agrarian economy into a modern economy show me the process of rapid industrialisation.
Option 1: Great leap forward campaign
Option 2: Great proletarian cultural revolution
Option 3: Dual pricing in the reform process
Option 4: Special economic zone.
Question : How did the suspension of the Five-year Plans impact India's approach to economic planning?
Option 1: It led to a shift towards a completely market-driven economy.
Option 2: It resulted in the adoption of ad-hoc annual plans.
Option 3: It initiated a move towards a socialist economy.
Option 4: It caused a permanent halt to economic planning.
Question : It involves diversification of economic activities across the geography, sector and technological scope which leads to development of any economy. Which need for entrepreneurship is highlighted here?
Option 1: Improvement in economic efficiency
Option 2: Increasing spectrum and scope of economic activities
Option 3: Impact on local communities
Option 4: Capital formation
Question : What was a major goal of the Janata Dal when it was formed in 1988?
Option 1: To promote economic liberalization
Option 2: To establish a socialist state
Option 3: To provide a viable alternative to the Congress party
Option 4: To support the Bharatiya Janata Party
Question : It is a comprehensive package of policy measures which covers various issues connected with different industrial enterprises of the country.
Option 1: Industrial policy
Option 2: Industrial licensing
Option 3: Foreign trade policy
Option 4: Import substitution
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