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Savings, investment, wealth, welfare and business cycle - class-IX

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Which part of the Indian Constitution declares the idea of a 'welfare state'?

  1. Fundamental Rights

  2. Directive Principles of State Policy

  3. Fundamental Duties

  4. Preamble


Correct Option: B
Explanation:

Articles 39-51 contain the Directive Principles. These principles can be broadly classified under five categories- Economic, Gandhian Protection of Environment and Monuments; Law Justice and Administration and International Peace and Security. 

What is the need of Government Schemes ?

  1. Improve the lives of communities

  2. Greater opportunity for people

  3. Protects every persons right

  4. All of the above


Correct Option: D
Explanation:

The Government has set up several schemes to improve the lives of communities and individuals who have been treated unequally for several centuries. These schemes are to ensure greater opportunity for people who have not had this in the past.

Equal pay for equal work for both men and women is a part of ___________.

  1. Fundamental Right to equality

  2. Fundamental Right against exploitation

  3. Directive Principles of the State Policy

  4. Fundamental Duties


Correct Option: C
Explanation:

Article 39 of Constitution of India have certain principles of policy to be followed by the state, including providing an adequate means of livelihood for all citizens, equal pay for equal work for men and women, proper working conditions, reduction of the concentration of wealth and means of production from the hands of a few, and distribution of community resources to subserve the common good.

Which one is not a Directive Principle?

  1. Equal pay for equal work

  2. Prevention of cow slaughter

  3. Pollution control

  4. Promotion of international peace


Correct Option: C
Explanation:

Article 39 lays down certain principles of policy to be followed by the State, including providing an adequate means of livelihood for all citizens, equal pay for equal work for men and women, proper working conditions, reduction of the concentration of wealth and means of production from the hands of a few, and distribution of community resources to subserve the common good. Article 48 of the Constitution of India mandates the state to prohibit the slaughter of cows and calves and other milch and draught cattle. The State, according to Article 51, must also strive for the promotion of international peace and security, and Parliament has been empowered under Article 253 to make laws giving effect to international treaties. Prohibition of cow slaughter is a Directive Principles of State Policy contained in Article 48 of the Constitution.

Which Directive Principle has been fully implemented in the country?

  1. Setting up village Panchayats as the unit of self-Government

  2. Securing the Uniform Civil Code throughout the country

  3. Prohibition of the use of intoxicants

  4. Providing adequate means of livelihood for all citizens


Correct Option: A
Explanation:

This principle has been transformed into reality through the Constitution (73rd Amendment) Act, 1992 which provided for a three-tier Panchayati Raj system in the country. 

In a welfare state, the government ____________.

  1. Restricts the liberty of the individuals

  2. Determines the fashion of the people

  3. Controls the trade and commerce

  4. Helps the people against poverty, old age and unemployment


Correct Option: D
Explanation:

In welfare state the government helps the people against poverty, old age and unemployment. The term ‘welfare state’ describes collectively a range of social policies that aim to provide basis services such as health and education, according to the need and normally, free of charge through state funding.

Which one of the following has got most effective provisions towards the establishment of socio-economic justice in India?

  1. Fundamental Rights

  2. Fundamental Duties

  3. Directive Principles of the State Policy

  4. Preamble of the Constitution


Correct Option: C
Explanation:

The Directive Principles of State Policy are the guidelines or principles given to the federal institutes governing the state of India, to be kept in citation while framing laws and policies. These provisions, contained in Part IV of the Constitution of India, are not enforceable by any court, but the principles laid down therein are considered irrefutable in the governance of the country, making it the duty of the State to apply these principles in making laws to establish a just society in the country. The principles have been inspired by the Directive Principles given in the Constitution of Ireland relate to social justice, economic welfare, foreign policy, and legal and administrative matters.

Which of the following is not included in the Directive Principles of State Policy ? 

  1. Right to work

  2. Right to equality

  3. Right to equal wages for equal work

  4. Right to free and compulsory education upto the age of fourteen


Correct Option: B
Explanation:

Right to Equality isn't in the Directive Principles of State Policy. The Directive Principles of State Policy, embodied in Part IV of the Constitution, are directions given to the state to guide the establishment of an economic and social democracy, as proposed by the Preamble.

a. Articles 41–43 mandate the State to endeavour to secure to all citizens the right to work, a living wage, social security, maternity relief, and a decent standard of living.

c. Article 39 lays down certain principles of policy to be followed by the State, including providing an adequate means of livelihood for all citizens, equal pay for equal work for men and women, proper working conditions, reduction of the concentration of wealth and means of production from the hands of a few, and distribution of community resources to sub serve the common good.

d. Article 45 originally mandated the State to provide free and compulsory education to children between the ages of six and fourteen years.

Individual liberty is best reflected in a ___________.

  1. Socialist State

  2. Communist State

  3. Welfare State

  4. Fascist State


Correct Option: C
Explanation:

Individual liberty is best reflected in a Welfare State. The welfare state is a concept of government in which the state plays a key role in the protection and promotion of the social and economic well-being of its citizens.

The importance of Village Panchayats was recognised by the fathers of the Indian Constitution. The provision for organising Village Panchayats exists in __________________.

  1. Preamble of the Constitution

  2. Chapter on Fundamental Rights

  3. Chapter on Directive Principles

  4. Amendments to the Constitution


Correct Option: C
Explanation:

The importance of Village Panchayats was recognised by the fathers of the Indian Constitution. The provision for organising Village Panchayats exists in in the Directive Principles of State Policy under Article 40. Directive principles which are based on Gandhian ideology for Village Panchayat is:

“To organise village panchayats and endow them with necessary powers and authority to enable them to function as units of self-government.”

Recession is generally associated with the phenomena of __________.

  1. falling prices

  2. falling sensex

  3. falling population

  4. falling public spending


Correct Option: A
Explanation:

Recession is also known as business contraction cycle ,where a decrease in general price level in an economy is observed.

__________ are of regular nature and repeat themselves after a fixed interval of time.

  1. Periodic variations

  2. Oscillatory variations

  3. (a) or (b)

  4. Irregular variations


Correct Option: A
Explanation:

Periodic variations occur after a fixed interval or period of time. They happen repeatedly. In economics, periodic variations can be found in production and consumption.

A business cycle contraction will tend to cause: ______.

  1. decrease in foreign capital

  2. increase in unemployment

  3. fall in inflation

  4. all the three


Correct Option: D
Explanation:
A business contraction cycle or recession cycle will cause:
1) Capital accumulated from foreign countries gets depleted
2) Unemployment level in an economy increase because wage level falls as the profit of the business decreases due to low investment..
3) Decrease in general price level is also observed  ,that is, fall in inflation.

When we say that the Demand for a commodity depends upon the money income of the Consumer, we are referring to -

  1. Income Effect

  2. Substitution Effect

  3. Demonstration Effect

  4. Utility Effect


Correct Option: A

TR minus total explicit cost is called:

  1. profit

  2. economic profit

  3. supernormal profit

  4. accounting profit


Correct Option: D
Explanation:

Accounting profits refers to the profits which include implicit cost in them along with normal profits.It only excludes explicit cost from the overall revenue. 

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