Chapter 6: Industrial Sector — Online MCQ Test
ECONOMICS · CLASS 12 INTERMEDIATE 2 YEAR · Telangana State Board
Practice Chapter 6: Industrial Sector with a free chapter-wise online MCQ test.
This chapter covers: This chapter covers industrial policy resolutions 1948 1956 1991 public sector performance micro small medium enterprises MSMEs industrial finance and regional imbalances..
AI-generated questions from basic to board-exam level, with instant results and explanations.
Chapter 6: Industrial Sector — Important Questions & Answers
What is the main objective of the Industrial Policy Resolution of 1948?
- A. To completely privatize all industries
- B. To establish a mixed economy with a role for both public and private sectors
- C. To abolish the public sector
- D. To focus only on agriculture-based industries
Answer: B. To establish a mixed economy with a role for both public and private sectors
The Industrial Policy Resolution of 1948 accepted a mixed economy. It gave importance to both the public sector and the private sector in industrial development.
The Industrial Policy Resolution of 1948 accepted a mixed economy. It gave importance to both the public sector and the private sector in industrial development.
Which Industrial Policy Resolution introduced the concept of a 'socialistic pattern of society'?
- A. Industrial Policy Resolution, 1948
- B. Industrial Policy Resolution, 1956
- C. Industrial Policy Resolution, 1991
- D. Industrial Policy Resolution, 1977
Answer: B. Industrial Policy Resolution, 1956
The 1956 policy emphasized the socialistic pattern of society. It assigned a dominant role to the public sector in key industries.
The 1956 policy emphasized the socialistic pattern of society. It assigned a dominant role to the public sector in key industries.
The 1991 Industrial Policy is mainly associated with:
- A. Expansion of public monopolies
- B. Liberalisation, privatisation and globalisation
- C. Complete control of all industries by the state
- D. Ban on foreign investment
Answer: B. Liberalisation, privatisation and globalisation
The 1991 policy introduced major economic reforms. It encouraged liberalisation, privatisation and globalisation to improve industrial efficiency and competition.
The 1991 policy introduced major economic reforms. It encouraged liberalisation, privatisation and globalisation to improve industrial efficiency and competition.
Which statement best explains the role of the public sector in the industrial policy of 1956?
- A. It had no role in industrial development
- B. It was given a dominant role in key industries
- C. It was restricted only to consumer goods
- D. It was limited to small-scale trade
Answer: B. It was given a dominant role in key industries
The 1956 policy gave the public sector a dominant role in basic and strategic industries. This was meant to build a strong industrial base for the economy.
The 1956 policy gave the public sector a dominant role in basic and strategic industries. This was meant to build a strong industrial base for the economy.
If an industry is classified as an MSME, which of the following is most likely to be true?
- A. It always requires very heavy capital and advanced technology only
- B. It usually provides employment with relatively lower investment
- C. It is never eligible for institutional credit
- D. It can operate only in metropolitan cities
Answer: B. It usually provides employment with relatively lower investment
MSMEs generally need comparatively lower investment and are labour-intensive. This makes them useful for employment generation and local development.
MSMEs generally need comparatively lower investment and are labour-intensive. This makes them useful for employment generation and local development.