Industrial Structure and Composition

Description: This quiz is designed to assess your understanding of the concepts related to Industrial Structure and Composition in the Indian Economy.
Number of Questions: 15
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Tags: industrial structure composition of industries primary sector secondary sector tertiary sector
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Which sector of the Indian economy is primarily engaged in the extraction and processing of natural resources?

  1. Primary Sector

  2. Secondary Sector

  3. Tertiary Sector

  4. Quaternary Sector


Correct Option: A
Explanation:

The primary sector of the economy includes activities such as agriculture, mining, and forestry, which involve the extraction and processing of natural resources.

Which sector of the Indian economy is involved in the manufacturing of goods?

  1. Primary Sector

  2. Secondary Sector

  3. Tertiary Sector

  4. Quaternary Sector


Correct Option: B
Explanation:

The secondary sector of the economy includes industries that are involved in the manufacturing of goods, such as textiles, automobiles, and electronics.

Which sector of the Indian economy provides services to consumers and businesses?

  1. Primary Sector

  2. Secondary Sector

  3. Tertiary Sector

  4. Quaternary Sector


Correct Option: C
Explanation:

The tertiary sector of the economy includes industries that provide services to consumers and businesses, such as retail, transportation, and healthcare.

Which sector of the Indian economy is involved in the creation and dissemination of knowledge?

  1. Primary Sector

  2. Secondary Sector

  3. Tertiary Sector

  4. Quaternary Sector


Correct Option: D
Explanation:

The quaternary sector of the economy includes industries that are involved in the creation and dissemination of knowledge, such as education, research, and development.

What is the significance of industrial structure and composition in the Indian economy?

  1. It determines the overall economic growth and development.

  2. It influences the distribution of income and wealth.

  3. It affects the employment patterns and labor market dynamics.

  4. All of the above.


Correct Option: D
Explanation:

The industrial structure and composition of an economy have a significant impact on its overall growth, development, income distribution, wealth distribution, and employment patterns.

Which industry is considered the backbone of the Indian economy?

  1. Agriculture

  2. Manufacturing

  3. Services

  4. Information Technology


Correct Option: A
Explanation:

Agriculture is considered the backbone of the Indian economy due to its significant contribution to the country's GDP, employment, and food security.

Which industry has emerged as a major driver of economic growth in recent decades?

  1. Agriculture

  2. Manufacturing

  3. Services

  4. Information Technology


Correct Option: C
Explanation:

The services sector has emerged as a major driver of economic growth in recent decades, contributing significantly to GDP and employment.

Which industry is known for its labor-intensive nature and low-cost production?

  1. Agriculture

  2. Manufacturing

  3. Services

  4. Information Technology


Correct Option: B
Explanation:

Manufacturing is often associated with labor-intensive processes and low-cost production, particularly in developing countries.

Which industry is characterized by its high-value products and skilled workforce?

  1. Agriculture

  2. Manufacturing

  3. Services

  4. Information Technology


Correct Option: D
Explanation:

The information technology industry is known for its high-value products and skilled workforce, driving innovation and economic growth.

What is the term used to describe the shift of economic activities from one sector to another?

  1. Industrial Revolution

  2. Structural Transformation

  3. Economic Diversification

  4. Sectoral Change


Correct Option: B
Explanation:

Structural transformation refers to the shift of economic activities from one sector to another, often from agriculture to industry and services.

Which policy framework aims to promote the development of specific industries or sectors?

  1. Industrial Policy

  2. Fiscal Policy

  3. Monetary Policy

  4. Trade Policy


Correct Option: A
Explanation:

Industrial policy is a government framework designed to promote the development of specific industries or sectors through various measures and incentives.

What is the term used to describe the concentration of economic power in a few large firms?

  1. Monopoly

  2. Oligopoly

  3. Perfect Competition

  4. Monopolistic Competition


Correct Option: B
Explanation:

Oligopoly refers to a market structure in which a few large firms control a significant share of the market, leading to reduced competition and potential market power.

Which government agency is responsible for regulating competition and preventing anti-competitive practices in India?

  1. Reserve Bank of India

  2. Securities and Exchange Board of India

  3. Competition Commission of India

  4. National Stock Exchange of India


Correct Option: C
Explanation:

The Competition Commission of India (CCI) is the government agency responsible for regulating competition and preventing anti-competitive practices in India.

What is the term used to describe the process of combining two or more companies into a single entity?

  1. Merger

  2. Acquisition

  3. Joint Venture

  4. Strategic Alliance


Correct Option: A
Explanation:

Merger refers to the process of combining two or more companies into a single entity, resulting in a larger and more powerful organization.

Which type of merger involves the acquisition of one company by another, resulting in the acquiring company assuming control?

  1. Horizontal Merger

  2. Vertical Merger

  3. Conglomerate Merger

  4. Product Extension Merger


Correct Option:
Explanation:

Acquisition refers to a type of merger in which one company acquires another, resulting in the acquiring company assuming control of the acquired company's assets and operations.

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