Business Environment Test

Result

Business Environment Test - 12

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Weekly Quiz Competition

Question 1
1 / -0

Democratic Planning is adopted in _________.

A
Capialist economy

B
Socialist economy

C
Mixed-economy

D
Facist economy

Solution

Democratic planning is adopted in mixed economy. In democratic planning, there must be a correct comprehension of the laws of development of the society where planning is to take place. Mixed economy possess characteristics of both capitalist economy as well as socialist economy. Democratic planning involves participation of all the citizens of an economy directly or indirectly.
Question 2
1 / -0

Human Development as its main locus in the __________.

A
Eighth plan

B
Nineth plan

C
Seventh plan

D
Tenth plan

Solution

Human Development as its main locus in the eighth plan. Eighth plan focuses on overall human development. Human development can be defined as the process of advancing human well being.
Question 3
1 / -0

Rolling plan was introduced by ___________.

A
V.P. Singh

B
Prof. Myrdal

C
Manmohan Singh

D
P. Chidamparam

Solution

Rolling plan was introduced by Prof. Myrdal. A rolling plan can be defined as a plan where there is no fixation of dates in respect of commencement and end of the plan. The main advantage of rolling plans is that they are very flexible and are able to overcome rigidity by mending targets and objectives. The main advantage of the rolling plans is that they are flexible and are able to overcome rigidity.
Question 4
1 / -0

The First Five Year Plan model was based on _______.

A
Harrod Domar Model

B
Fel'dman Model

C
Consistency Model

D
Mahalanobis model

Solution

The First Five Year Plan model was based on Harrod Domar Model. It was launched by the Government of India in the year of 1951. The first five year plan mainly focused on the development of the primary sector of the economy. It was presented before the Parliament of India by former Prime Minister Pandit Jawaharlal Nehru.
Hence, option (A) is the correct answer.
Question 5
1 / -0

Economic and industrial liberalization was announced in the _________.

A
Industrial policy resolution, 1948

B
Industrial policy resolution, 1956

C
Industrial policy statement, 1977

D
Industrial policy, 1991

Solution

Economic and industrial liberalization was announced in the Industrial policy, 1991. It helped to create a more free and competitive environment in the market. It also enhanced the interaction and interdependence among the various nations of the global economy.
Hence, option (D) is the correct answer.
Question 6
1 / -0

Prior to liberalisation ___________ of the most important industries were exclusively reserved for the public sector.

A
7

B
10

C
12

D
17

Solution

Prior to liberalization, a number of public sector industries which were earlier reserved under governmental control reduced from 17 to 8 in the count. Presently these companies are only 3 in number. Liberalization refers to end of license, quota and many more restrictions and controls which were put on industries before 1991.
Hence, option (D) is the correct answer.
Question 7
1 / -0

An essential pre-requisite for a successful privatisation is _______.

A
Globalisation

B
Nationalisation

C
Liberalisation

D
All the above

Solution

An essential pre-requisite for successful privatization is liberalization. Liberalization refers to end of license, quota and many more restrictions and controls which were put on industries before 1991. Liberalization is of utmost importance in order to give greater role to private sector of the economy. Hence, option (C) is the correct answer
Question 8
1 / -0

The voluntary organisation is achieved by _______.

A
Setting up consumers associates or councils

B
Organising consumer co-operatives

C
Either (A) or (B)

D
None of these

Solution

A voluntary organization is usually formed by a group of individuals who enter into an agreement, usually as volunteers. It is formed to accomplish a special purpose. The voluntary organization is achieved by:-
a) setting up consumers associates or councils
b) organizing consumer co-operatives.
Hence, option (C) is the correct answer.
Question 9
1 / -0

Gandhian Plan inspired _______.

A
Democratic Planning

B
Sarvodaya Planning

C
Developmental Planning

D
Dynamic Planning

Solution

Gandhian Plan inspired Sarvodaya Planning. Sarvodaya Plan was launched in the year of 1950. Along with agriculture it emphasized on small and cotton industries as well. It was drafted by Jayaprakash Narayan.
Question 10
1 / -0

Match the following:
Plan Strategy
1. Second five year plan a) Self-sustaining growth
2. Third five year plan b) Rapid Industrialization
3. Fourth five year plan c) Composition of growth
4. Fifth five year plan d) Policy-mix

A
1-a, 2-b, 3-c, 4-d

B
1-b, 2-a, 3-d, 4-c

C
1-d, 2-a, 3-b, 4-c

D
1-c, 2-a, 3-b, 4-d

Solution

Plan Strategy

Second five year plan
Rapid Industrialization

Third five year plan
Self-sustaining growth
Fourth five year plan Policy-mix
Fifth five year plan Composition of growth
Hence, option (B) is the correct answer.

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Re-Attempt Weekly Quiz Competition

	Plan		Strategy
1.	Second five year plan	a)	Self-sustaining growth
2.	Third five year plan	b)	Rapid Industrialization
3.	Fourth five year plan	c)	Composition of growth
4.	Fifth five year plan	d)	Policy-mix

Business Environment Test - 12

Result

Business Environment Test - 12

Score

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Rank

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SHARING IS CARING

Question 1

Capialist economy

Socialist economy

Mixed-economy

Facist economy

Solution

Question 2

Eighth plan

Nineth plan

Seventh plan

Tenth plan

Solution

Question 3

V.P. Singh

Prof. Myrdal

Manmohan Singh

P. Chidamparam

Solution

Question 4

Harrod Domar Model

Fel'dman Model

Consistency Model

Mahalanobis model

Solution

Question 5

Industrial policy resolution, 1948

Industrial policy resolution, 1956

Industrial policy statement, 1977

Industrial policy, 1991

Solution

Question 6

7

10

12

17

Solution

Question 7

Globalisation

Nationalisation

Liberalisation

All the above

Solution

Question 8

Setting up consumers associates or councils

Organising consumer co-operatives

Either (A) or (B)

None of these

Solution

Question 9

Democratic Planning

Sarvodaya Planning

Developmental Planning

Dynamic Planning

Solution

Question 10

1-a, 2-b, 3-c, 4-d

1-b, 2-a, 3-d, 4-c

1-d, 2-a, 3-b, 4-c

1-c, 2-a, 3-b, 4-d

Solution

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