Economic Reforms Since 1991 CBSE Questions & Answers

Economic Reforms Since 1991

This is Economics Class 11 Economic Reforms Since 1991 CBSE Questions & Answers. There are 15 questions in this test with each question having around four answer choices.

Questions & Answers

1
In which among the following year was ‘liberalised industrial policy’ in India was announced for the first time
  • A
    1991.0
    Correct
  • B
    1996
  • C
    1995
  • D
    1992
2
In which among the following year the MRTP act become effective
  • A
    1980
  • B
    1990
  • C
    1960
  • D
    1970
    Correct
3
In which major economic decisions (what to produce, how to produce and for whom to produce) are left to the free play of the market forces
  • A
    Mixed economy
  • B
    Socialist economy
  • C
    Capitalist economy
    Correct
  • D
    None
4
Socialist economy
  • A
    Both
  • B
    Major decision are taken by the government
    Correct
  • C
    None
  • D
    Decision are left to the free play of the market forces
5
Self reliance means
  • A
    Reduction inequality of income
  • B
    None
  • C
    Adaptation of new technology
  • D
    Reducing the dependence on imports
    Correct
6
Increase in aggregate output of goods and services
  • A
    Economy
  • B
    Economic planning
  • C
    Economic growth
    Correct
  • D
    Economic development
7
LQP raj refers to
  • A
    license, quota, permit raj
    Correct
  • B
    license, quarter, privatisation raj
  • C
    license, quota, privatisation raj
  • D
    liberalisation, quota, permit raj
8
The process of removal of import restrictions which began in 1991 completed in phased manner with the removal of restrictions on
  • A
    550 items
  • B
    515 items
  • C
    715 items
    Correct
  • D
    735 items
9
The measures taken under NEP are called
  • A
    Economic growth
  • B
    Economic development
  • C
    Economy
  • D
    Economic reforms
    Correct
10
New plan of action by government to influence production and capital formation activities in the country
  • A
    NEG
  • B
    NPP
  • C
    NEP
    Correct
  • D
    NED
11
The economic reforms are intended to take the Indian economy into three specific directions are
  • A
    DLP
  • B
    LDG
  • C
    DPG
  • D
    LPG
    Correct
12
Which act was removed under NEP
  • A
    MRTP
    Correct
  • B
    MDPE
  • C
    MRRP
  • D
    MRMP
13
During economic crisis the world bank and IMF provided loan of
  • A
    7 billion
    Correct
  • B
    5 billion
  • C
    6 billion
  • D
    8 billion
14
Main organisation for facilitating globalisation are
  • A
    ILO
  • B
    World Bank
    Correct
  • C
    WHO
  • D
    IPP
15
____ purpose to give more freedom to the entrepreneurs
  • A
    Liberalisation
    Correct
  • B
    Globalisation
  • C
    Privatisation
  • D
    None