Economics of Development and Planning One Mark Online Test

Economics of Development and Planning One Mark Online Test (12th Standard Economics)

Pick how many questions you want and set a time limit, then start. You'll get your score at the end with the correct answer and an explanation for every question. Free, in Tamil and English — 35 questions available.

Set up your test

Number of questions

Time limit

Time remaining00:00

"Redistribution with Growth" became a popular slogan of which approach?

A.Traditional approach B.New welfare oriented approach C.Industrial approach D.None of the above

Which of the following is not a feature of economic growth?

A.Concerned with developed nations B.Gradual change C.Concerned with quantitative aspect D.Wider concept

Which among the following is a characteristic of underdevelopment?

A.Vicious circle of poverty B.Rising mass consumption C.Growth of Industries D.High rate of urbanization

Identify the non-economic determinant of economic development.

A.Natural resources B.Human resource C.Capital formation D.Foreign trade

Economic growth measures the ___________.

A.Growth of productivity B.Increase in nominal income C.Increase in output D.None of the above

The supply-side vicious circle of poverty suggests that poor nations remain poor because ___________.

A.Saving remains low B.Investment remains low C.There is a lack of effective government D.a and b above

Which of the following plans focused on the agriculture and rural economy?

A.People's Plan B.Bombay Plan C.Gandhian Plan D.Vishveshwarayya Plan

Arrange the following plans in the correct chronological order: (i) People's Plan (ii) Bombay Plan (iii) Jawaharlal Nehru Plan (iv) Vishveshwarayya Plan

A.(i) (ii) (iii) (iv) B.(iv) (iii) (ii) (i) C.(i) (ii) (iv) (iii) D.(ii) (i) (iv) (iii)

M.N. Roy was associated with which of the following plans?

A.Congress Plan B.People's Plan C.Bombay Plan D.None of the above

Q10

Which of the following countries adopts indicative planning?

A.France B.Germany C.Italy D.Russia

Q11

Short-term plan is also known as ___________.

A.Controlling Plans B.De-controlling Plans C.Rolling Plans D.De-rolling Plans

Q12

Long-term plan is also known as ___________.

A.Progressive Plans B.Non-progressive Plans C.Perspective Plans D.Non-perspective Plans

Q13

The basic philosophy behind long-term planning is to bring ___________ changes in the economy.

A.Financial B.Agricultural C.Industrial D.Structural

Q14

Sarvodaya Plan was advocated by ___________.

A.Mahatma Gandhi B.J.P. Narayan C.S. N Agarwal D.M.N. Roy

Q15

The Planning Commission of India was set up in the year ___________.

A.1950 B.1951 C.1947 D.1948

Q16

Who wrote the book 'The Road to Serfdom'?

A.Friedrich Hayek B.H.R. Hicks C.David Ricardo D.Thomas Robert Malthus

Q17

Perspective plan is also known as ----

A.Short-term plan B.Medium-term plan C.Long-term plan D.None of the above

Q18

NITI Aayog is formed through------------------------

A.Presidential Ordinance B.Allocation of business rules by President of India C.Cabinet resolution D.None of the above

Q19

Expansion of NITI Aayog?

A.National Institute to Transform India B.National Institute for Transforming India C.National Institution to Transform India D.National Institution for Transforming India

Q20

The Chair Person of NITI Aayog is

A.Prime Minister B.President C.Vice – President D.Finance Minister

Q21

Under the traditional approach, economic development is defined strictly in economic terms and emphasizes the importance of which of the following?

A.Industrialization B.Social equity C.Environmental preservation D.Poverty eradication

Q22

Who explained the "vicious circles of poverty" as a circular constellation of forces tending to act and react upon one another to keep a poor country in poverty?

A.Adam Smith B.Ragnar Nurkse C.Michael P. Todaro D.Thomas Piketty

Q23

According to Ragnar Nurkse, what strategy can be used to break the vicious circle of poverty operating on the demand side of capital formation?

A.Balanced growth B.Complete agricultural mechanization C.Unilateral trade restrictions D.Concentrated single-industry investment

Q24

The "Bombay Plan" presented by eight leading industrialists of Bombay in 1940 was designed as an investment plan spanning how many years?

A.5 Years B.10 Years C.15 Years D.20 Years

Q25

In which year did S. N. Agarwal formulate the "Gandhian Plan" that focused on the agricultural and rural economy?

A.1934 B.1938 C.1944 D.1950

Q26

The "People's Plan" drafted by M.N. Roy in 1945 primarily aimed at which of the following?

A.Development of cottage industries only B.Mechanization of agricultural production and distribution by the state C.Complete privatization of all financial institutions D.A ten-year infrastructure development plan under British rule

Q27

Who defined economic planning in its widest sense as "the deliberate direction by persons in-charge of large resources of economic activity towards chosen ends"?

A.Lionel Robbins B.Hugh Dalton C.Arthur Lewis D.Friedrich Hayek

Q28

Who was the first Vice-Chairman of the NITI Aayog, functioning as its functional head?

A.Arvind Panagariya B.N. K. Singh C.Y. V. Reddy D.Vijay L. Kelkar

Q29

According to Douglas C. North, which non-economic factor determines the efficiency of the market, stating that "If people are not honest, market cannot function"?

A.Natural resources B.Moral, ethical and social values C.Marketable surplus D.Casino capitalism

Q30

According to Thomas Piketty, what occurs under "Casino Capitalism" that leads to a decline in productive economic activities?

A.Assets are simply passed on from parents to children B.People spend a larger proportion of their income and time on entertainment, liquor, and illegal activities C.The market operates perfectly without any government intervention D.Agricultural marketable surplus is completely nationalized by the state

Q31

What term does Thomas Piketty use to describe a system where assets are passed on to children from their parents, causing children to work less hard and resulting in low productivity?

A.Casino Capitalism B.Patrimonial Capitalism C.Crony Capitalism D.Laissez-faire Capitalism

Q32

In indicative planning, which is peculiar to mixed economies, how does the state coordinate with the private sector?

A.By enforcing plans as rigid instructions with no private consultation B.By completely nationalizing all private enterprises and eliminating consumer sovereignty C.By providing facilities and indicating areas of operation without forcing the private sector D.By prohibiting the private sector from operating in any tertiary industry

Q33

Which type of economic planning pertains to the allocation of resources specifically in terms of men, materials, and machinery?

A.Financial planning B.Physical planning C.Functional planning D.Partial planning

Q34

Which Soviet leader famously described imperative planning with the statement, "Our plans are our instructions"?

A.Vladimir Lenin B.Joseph Stalin C.Nikita Khrushchev D.Mikhail Gorbachev

Q35

Who highlighted the high administrative costs of planned economies with the remark, "The better we try to plan, the more planners we need"?

A.Arthur Lewis B.Friedrich Hayek C.Lionel Robbins D.Dadabhai Naoroji

More for this chapter

About this Economics of Development and Planning test

This free online practice test covers Economics of Development and Planning from the 12th Standard Economics (Samacheer Kalvi) syllabus. Choose the number of questions and an optional time limit, then answer and submit — everything is checked in your browser, with the correct answers and a worked explanation shown at the end. For the full solutions to every question in this set, see the solved MCQs page.

More chapters in Economics

View all