Indian Economy 1950-1990 Class 12 MCQ Quiz – Test Your Knowledge!

Are you ready to test your understanding of "Indian Economy 1950-1990" from Class 12 Economics? This chapter covers the economic policies, five-year plans, industrial development, and the role of public and private sectors in shaping India's post-independence economy.

About the Quiz

Chapter Name: Indian Economy 1950-1990
Subject: Economics
Book: NCERT Class 12 Economics
Question Type: Multiple Choice Questions (MCQs)
Leaderboard: Yes (Check Your Rank!)

Why Take This Quiz?

✔ Strengthens your CBSE board exam preparation
✔ Helps in understanding economic planning in India
✔ Enhances knowledge of industrial and agricultural policies
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Chapter 2-Indian Economy 1950-1990

1 / 15

Which of the following was not a reason for the public sector to play a major role in the initial phase of Indian Economic Planning? (choose the correct alternative)

Private entrepreneurs lacked sufficient capital for investment.

The government wanted to protect the indigenous producers from foreign competition.

Government aimed at social welfare.

The market was big enough to encourage private industrialists to invest.

2 / 15

Read the following statements carefully and choose the correct alternatives given below:

Statement 1 – Subsidies do not add any burden on the financial health of a nation.

Statement 2 – Complete removal of subsidies may violate the aim of equitable distribution of income.

Both statements are false.

Statement 2 is true and Statement 1 is false.

Both statements are true.v

Statement 1 is true and Statement 2 is false.

3 / 15

What is the definition of quota?

Subsidies on domestic production

Tariffs on imported goods

Quantitative restrictions on imports

Export promotion policies

4 / 15

Read the following statements - Assertion (A) and Reason ( R)

Assertion (A): Many public sector undertakings incurred huge losses due to operational inefficiencies.

Reason (R): Red-tapism was one of the reasons for the continuation of such enterprises.

Select the correct alternative from the following:

Both Assertion (A) and Reason (R) are true.a. Both Assertion (A) and Reason (R) are true.

Both Assertion (A) and Reason (R) are false.

5 / 15

Which of the following statements about the land ceiling policy is TRUE?

Many landlords were able to escape the legislation.

It led to equity in the agricultural sector.

It was successful in Kerala and West Bengal because it met no resistance.

The implementation of the legislation was challenged by small tenants.

6 / 15

There are two statements given below marked as Assertion (A) and Reason (R). Read the statements and choose the correct option.

Assertion (A): In a capitalist economy, private entities own resources, whereas, in a socialist economy, resources are owned by the state.

Reason (R): In a socialist economy, it is assumed that the government knows the exact needs of the people.

A is false but R is true.

Both A and R are true and R explains A.

Both A and R are true and R does not explain A.

A is true but R is false.

7 / 15

__________committee was set up for the development and promotion of small-scale industries in India.

Karve

Tapas Majumdar

Mahalanobis

TRYSEM

8 / 15

Which economic system is characterized by the provision of goods and services based on the needs of society?

Socialist system

Mixed economy

Command economy

Capitalist system

9 / 15

Identify the correct combination of the ‘Goals of Indian Five-Year Plans’:

Growth, Equity, Modernisation, Self-Reliance

Good Health, Education, Modernisation, Sustainability

Growth, Equality, Modernisation, Self-Reliance

Development, Equality, Modernisation, Sustainability

10 / 15

Industrial Policy Resolution (IPR) 1956 formed the basis of the_________ Five Year Plan. (Fill up the blank with the correct alternative)

Second

Fourth

First

Third

11 / 15

Before the advent of the Green Revolution in 1960s, India was primarily dependent on _________for the supply of food grains. (Fill in the blank with the correct alternative)

Britain (United Kingdom)

United States of America (USA)

Mexico

Union of Soviet Socialist Republics (USSR)

12 / 15

State whether the given statement is true or false:

The mechanization of Indian agriculture was one of the causes of the Green Revolution in India.

False

True

13 / 15

Match the following:

1. Prime Minister	A. Seeds that give large proportion of output
2. Gross Domestic Product	B. Quantity of goods that can be imported
3. Quota	C. Chairperson of the planning commission
4. Land Reforms	D. The money value of all the final goods and services produced within the economy in one year
5. HYV seeds	E. Improvements in the field of agriculture to increase its productivity
6. Subsidies	F. The monetary assistance given by government for production activities.

1-C, 2-D, 3-B, 4-E, 5-F, 6-A

1-C, 2-D, 3-B, 4-E, 5-A, 6-F

1-C, 2-B, 3-D, 4-E, 5-A, 6-F

1-E, 2-D, 3-B, 4-C, 5-A, 6-F

14 / 15

C. Rajagopalachari, a founder of the Swatantra Party, coined the term 'permit-license raj' to encapsulate the party's frustrations with Nehru's policies, writing in his magazine Swarajya: I want the corruptions of the Permit/Licence Raj to go... I want real, equal opportunities for all and no private monopolies created by the Permit/Licence Raj.

How were these private monopolies indulging in the corruption that C. Rajagopalachari talks about?

They led to lobbying and personal benefits for big industrial houses.

They continued to function even when running into losses.

They could not compete with international products.

They exploited the people by grossly increasing prices.

15 / 15

What kind of tariff policy was needed to protect domestic producers from foreign competition, after independence?

high import tariffs, increased import quota

low import tariffs, increased import quota

low import tariffs, reduced import quota

high import tariffs, reduced import quota

Your score is

The average score is 59%

Leaderboard – Top Scorers

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Pos.	Name	Score	Duration	Points
1	hi	93 %	6 minutes 11 seconds	14
2	Anuj	87 %	3 minutes 12 seconds	13
3	ABCD	87 %	5 minutes 23 seconds	13
4	Xyz	67 %	7 minutes 8 seconds	10
5	Rupali	67 %	7 minutes 39 seconds	10
6	Sourabh	67 %	8 minutes 41 seconds	10
7	Ecology	60 %	5 minutes	9
8	]ll\	60 %	5 minutes 17 seconds	9
9	Padit ji	60 %	5 minutes 58 seconds	9
10	sneha	53 %	6 minutes 56 seconds	8
11	Mysterious	53 %	11 minutes 37 seconds	8
12	Devansh	33 %	1 minutes 39 seconds	5
13	manish	33 %	3 minutes 47 seconds	5
14	harsh	33 %	3 minutes 50 seconds	5
15	lelllaallllllllllllllllla	27 %	7 minutes 45 seconds	4

Key Topics Covered in the Quiz

✔ Economic Planning and Five-Year Plans
✔ Industrial Policy and Public Sector Enterprises
✔ Green Revolution and Agricultural Reforms
✔ Trade and Foreign Policies
✔ Role of LPG (Liberalization, Privatization, Globalization)

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About the Quiz

Why Take This Quiz?

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Key Topics Covered in the Quiz

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