Mixed Economy in India: Features and Significance

Description: Mixed Economy in India: Features and Significance
Number of Questions: 15
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Tags: indian economics economic policy and planning in india mixed economy
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What is the primary objective of a mixed economy?

  1. To achieve economic growth and stability.

  2. To promote social welfare and equality.

  3. To ensure efficient allocation of resources.

  4. To protect the environment and natural resources.


Correct Option: A
Explanation:

The primary objective of a mixed economy is to achieve economic growth and stability by combining the features of both capitalism and socialism.

Which sector of the Indian economy is primarily responsible for providing basic infrastructure and public services?

  1. Private sector

  2. Public sector

  3. Cooperative sector

  4. Unorganized sector


Correct Option: B
Explanation:

The public sector in India plays a crucial role in providing basic infrastructure and public services such as transportation, energy, education, and healthcare.

What is the role of the private sector in a mixed economy?

  1. To generate employment opportunities.

  2. To promote innovation and technological advancement.

  3. To contribute to economic growth and development.

  4. All of the above


Correct Option: D
Explanation:

The private sector in a mixed economy plays a vital role in generating employment opportunities, promoting innovation and technological advancement, and contributing to economic growth and development.

Which sector of the Indian economy is known for its self-help and mutual cooperation principles?

  1. Private sector

  2. Public sector

  3. Cooperative sector

  4. Unorganized sector


Correct Option: C
Explanation:

The cooperative sector in India is characterized by self-help and mutual cooperation principles, where members voluntarily come together to achieve common economic goals.

What is the significance of the unorganized sector in the Indian economy?

  1. It contributes significantly to employment generation.

  2. It plays a vital role in providing essential goods and services.

  3. It helps in reducing regional disparities.

  4. All of the above


Correct Option: D
Explanation:

The unorganized sector in India plays a crucial role in employment generation, providing essential goods and services, and reducing regional disparities.

Which sector of the Indian economy is characterized by the absence of formal rules and regulations?

  1. Private sector

  2. Public sector

  3. Cooperative sector

  4. Unorganized sector


Correct Option: D
Explanation:

The unorganized sector in India is characterized by the absence of formal rules and regulations, making it difficult to monitor and regulate.

What is the primary goal of the Five-Year Plans in India?

  1. To achieve rapid economic growth.

  2. To promote social justice and equality.

  3. To ensure balanced regional development.

  4. All of the above


Correct Option: D
Explanation:

The Five-Year Plans in India aim to achieve rapid economic growth, promote social justice and equality, and ensure balanced regional development.

Which sector of the Indian economy is primarily responsible for generating agricultural output?

  1. Primary sector

  2. Secondary sector

  3. Tertiary sector

  4. Quaternary sector


Correct Option: A
Explanation:

The primary sector of the Indian economy is primarily responsible for generating agricultural output, including crops, livestock, and fisheries.

What is the role of the secondary sector in a mixed economy?

  1. To convert raw materials into finished goods.

  2. To provide essential services to the population.

  3. To promote technological advancement and innovation.

  4. All of the above


Correct Option: D
Explanation:

The secondary sector in a mixed economy plays a vital role in converting raw materials into finished goods, providing essential services to the population, and promoting technological advancement and innovation.

Which sector of the Indian economy is known for its role in providing services such as transportation, communication, and tourism?

  1. Primary sector

  2. Secondary sector

  3. Tertiary sector

  4. Quaternary sector


Correct Option: C
Explanation:

The tertiary sector of the Indian economy is known for its role in providing services such as transportation, communication, and tourism.

What is the significance of the quaternary sector in the modern economy?

  1. It contributes to knowledge creation and dissemination.

  2. It promotes technological innovation and advancement.

  3. It enhances the efficiency of other sectors.

  4. All of the above


Correct Option: D
Explanation:

The quaternary sector in the modern economy plays a crucial role in knowledge creation and dissemination, promoting technological innovation and advancement, and enhancing the efficiency of other sectors.

Which sector of the Indian economy is primarily responsible for generating electricity and other forms of energy?

  1. Primary sector

  2. Secondary sector

  3. Tertiary sector

  4. Quaternary sector


Correct Option: B
Explanation:

The secondary sector of the Indian economy is primarily responsible for generating electricity and other forms of energy.

What is the role of the government in a mixed economy?

  1. To regulate economic activities.

  2. To provide social welfare programs.

  3. To promote economic growth and development.

  4. All of the above


Correct Option: D
Explanation:

The government in a mixed economy plays a crucial role in regulating economic activities, providing social welfare programs, and promoting economic growth and development.

Which sector of the Indian economy is known for its role in providing financial services such as banking and insurance?

  1. Primary sector

  2. Secondary sector

  3. Tertiary sector

  4. Quaternary sector


Correct Option: C
Explanation:

The tertiary sector of the Indian economy is known for its role in providing financial services such as banking and insurance.

What is the significance of the mixed economy model in India?

  1. It allows for both private and public ownership of industries.

  2. It promotes economic growth and social welfare simultaneously.

  3. It ensures balanced regional development.

  4. All of the above


Correct Option: D
Explanation:

The mixed economy model in India allows for both private and public ownership of industries, promotes economic growth and social welfare simultaneously, and ensures balanced regional development.

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