Indian Economy On The Eve Of Independence — Economics STD 12 Commerce — Question

.......... is an economy having elements of both capitalist and socialist economy.

1. Mixed economy.
2. Socialist economy.
3. Capitalist economy.
4. None of these.

Rate of which tax was reduced as per the tax reforms:

1. Income tax.
2. Corporation tax.
3. Value-added tax.
4. Property tax.

Which of the following is an institution to regulate health sector?

1. NCERT
2. ICMR
3. UGC
4. AICTE

To cope with the challenges of electricity generation, which is not a solution of electricity generation problem?

1. Encourage more public investment.
2. Discourage excessive use of electricity.
3. Ensuring better research and exploration facilities.
4. Encourage more use of non-renewable sources of energy.

Which are the two important sources of human capital formation?

1. Health and IT.
2. Banking and Industry.
3. Education and Health.
4. IT and Education.

The process of privatisation is where:

1. A company is transferred to a non-profit organization.
2. Services that were previously supplied are outsourced.
3. A few public sector enterprises are sold to private sector.
4. A state industry merges with or takes over a private or publicly owned company.

The pre-condition of privatisation to be successful requires:

1. Liberalisation and de-regulation of the economy.
2. Capital markets should be sufficiently developed.
3. Both (a) and (b).
4. None of these.

Green revolution leads to marketable surplus. What does it refers to?

1. Production of crops for self-consumption.
2. Production of crops for selling in market.
3. Production of crops for maintaining sufficient stock.
4. All of the above.

Assertion (A): Tax and tariff reductions had a negative impact on developmental and welfare expenditures.
Reason (R): Tax reduction in the reform period, aimed at yielding larger revenue and curb tax evasion, have not resulted in increase in tax revenue for the government. Also, tariff reduction has curtailed the scope for raising revenue through custom duties. In order to attract foreign investment, tax incentives were provided to foreign investors which further reduced the scope for raising tax revenues. This has a negative impact on developmental and welfare expenditures.

When was first census operation conducted in India?

1. 1907
2. 1881
3. 1853
4. 1941