The State and Economic Development — Practice Quiz
ICSE · Class 10 · Economic Application
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Which economist is called the Father of Economics and strongly supported laissez faire government?
Which statement best describes the private sector?
Which of the following is an example of a direct tax?
Which of the following is an example of an indirect tax?
Sample Questions
Which pair of industries is currently reserved for the public sector?
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Atomic energy and rail transport
Only atomic energy and rail transport are currently reserved for the public sector.
A public sector company is one where the government holds most of the shares. What is the shareholding condition given here?
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More than 5%
A public sector company is defined here as a company in which the government holds most of the shares, meaning more than 5%.
Which policy allows both public and private sectors to operate in the economy?
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Mixed economy
After the Industrial Policy Resolutions, India followed a mixed economy in which both public and private sectors were allowed to operate.
Which bank formulates and implements monetary policy regarding money supply and cost of credit?
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Reserve Bank of India
The Reserve Bank of India is the central bank and handles monetary policy, including money supply and cost of credit.
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