Indian Economy on the Eve of Independence - Online Test

Q1. Which of the following economist estimated per capita income during colonial period
Answer : Option D
Explaination / Solution:

India’s per capita income during colonial period was estimated by some individual. Among the notable estimators — Dadabhai Naoroji, William Digby, Findlay Shirras.

Q2. What was the rate of growth of real output in our country during the first half of the twentieth century
Answer : Option D
Explaination / Solution:

During the first half of the twentieth century of Indian economy remained almost stagnant. This was clear from the fact that for almost a century, the average annual growth rate of per capita income in India was not more than 0.5%.

Q3. What was the percentage of population dependent directly or indirectly on agriculture
Answer : Option A
Explaination / Solution:

About 85 percent of the country’s population lived mostly in villages and derived livelihood directly or indirectly from agriculture.

Q4. Reason for low productivity in agriculture sector
Answer : Option D
Explaination / Solution:

Traditional methods of cultivation and low level of technology like manual ploughing are mainly responsible for low productivity of agriculture.

Q5. Capital goods industries are those
Answer : Option D
Explaination / Solution:

Capital Goods refer to products that are used in the production of other products but are not incorporated into the new product. These include machine tools, industrial machinery.

Q6. GDP stands for
Answer : Option C
Explaination / Solution:

Gross domestic product (GDP) is the monetary value of all the finished goods and services produced within a country's territory in a specific time period.

Q7. What is GDP
Answer : Option C
Explaination / Solution:

GDP is commonly used as an indicator of the economic health of a country. Gross domestic product (GDP) is the monetary value of all the final goods and services produced within a country's borders in a year.

Q8. TISCO was incorporated in
Answer : Option B
Explaination / Solution:

Tata Iron and Steel Company was founded and established on 26 August 1907.

Q9. Identify the industries which were under the public sector during the colonial period
Answer : Option A
Explaination / Solution:

Railways is a state –owned Industry during the colonial period, responsible for rail transport in India.

Q10. Goods which were exported during colonial period
Answer : Option A
Explaination / Solution:

During colonial period India became an exporter of primary products such as raw silk, cotton, wool, sugar, indigo, jute etc. and an importer of finished consumer goods like cotton, silk and woollen clothes.