Practice test

Industry and lpg - Test Set 3

Review 20 exam-focused questions with detailed explanations, then start the interactive test when you are ready.

20 questions

Questions and explanations

  1. Question 1

    From which year the policy of globalisation of Indian economy has been followed?
    1. 1980
    2. 1985
    3. 1991
    4. 2000
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  2. Question 2

    In the second industrial policy of 1956, industries were divided into:
    1. Two classes
    2. Three classes
    3. Four classes
    4. six classes
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  3. Question 3

    Government of India has started selling share of selected public sectors from the year:
    1. 1992
    2. 1993
    3. 1994
    4. 1997
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  4. Question 4

    What is meant by TRIPS?
    1. Laws relating to tax rebate
    2. Trade related laws
    3. Trade Related Intellectual Property Rights
    4. Proportionate Tariff rule
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  5. Question 5

    Liberalization of Indian Economy started from:
    1. 1991
    2. 1985
    3. 1995
    4. 1988
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  6. Question 6

    ONGC stands for:
    1. Oil and Natural Gas Company
    2. Oil and Natural Gas Corporation
    3. Organisation of Non-Government Companie
    4. Organisation of Non-Government Co-operatives
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  7. Question 7

    Which of the following is included in the Employees' State Insurance Act, 1948?
    1. Unemployment Insurance
    2. Medical Benefit
    3. Minimum Wages
    4. None of the above
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  8. Question 8

    Industrial Licensing, was finally abolished (with a few exceptions) in the:
    1. Industrial Policy, 1970
    2. Industrial Policy, 1980
    3. Industrial Policy, 1991
    4. Industrial Policy, 1995
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  9. Question 9

    In a factory that pays its employees on a piecework system, the schedule of reinforcement can be said to be
    1. Fixed ratio
    2. Fixed interval
    3. Variable interval
    4. Variable ratio
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  10. Question 10

    At present, as per governments rulings, the maximum area allowed for a Special Economic Zone (SEZ) is:
    1. 2000 hectares
    2. 3000 hectares
    3. 4000 hectares
    4. 5000 hectares
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  11. Question 11

    The process of radical economic reforms and liberalization in India was started in the year:
    1. 1990 A.D
    2. 1991 A.D.
    3. 1992 A.D.
    4. 1993 A.D.
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  12. Question 12

    Which of the following industries has shown a high rate of growth since the 1980's?
    1. Capital goods industries
    2. Intermediate goods industries
    3. Consumer durable goods industries
    4. Consumer non-durable goods industries
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  13. Question 13

    Which of the following factors is most important for future industrial development of India?
    1. Maintenance of industrial peace
    2. Creation of adequate infrastructural facilities
    3. Huge investment is to be undertaken by the investor class
    4. None of the above
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  14. Question 14

    Point out the main objective of creating ‘SEZ’ Special Economic Zones in India:
    1. Creation of special tax free growth points in the economy mainly to boost up exports
    2. Creation of strong industrial units which would provide employment facilities
    3. To give special preference to some industrial units
    4. None of the above
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  15. Question 15

    Tertiary sector activities include:
    1. Cottage industries
    2. Mining activities
    3. Construction activities
    4. Infrastructure services
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  16. Question 16

    Disinvestment policy implies:
    1. Dissolving the public sector units (PSU)
    2. Selling the equities of the PSUs to the open capital market
    3. Increasing government share in the PSUs
    4. None of the above
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  17. Question 17

    Attitude of present industrial policy towards foreign direct investment is:
    1. Total rejection of FDI
    2. Increase in share of FDI
    3. Decrease in share of FDI
    4. None of the above
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  18. Question 18

    For his model of industrial location, Weber makes use of:
    1. Isogons
    2. Isophenes
    3. Isodapanes
    4. Isotachs
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  19. Question 19

    ‘Economic Reforms’ were introduced in India in:
    1. 1989
    2. 1990
    3. 1991
    4. 1992
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  20. Question 20

    ‘Economic Reform’ measures in India was formally introduced in –
    1. July, 1991
    2. August, 1947
    3. January, 1980
    4. March, 1990
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