Indian Economy MCQs

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In a mixed economic system, there is a cross between a market economy and the Socialist economy. In the most common types of mixed economies, the market is more or less free of government ownership except for a few key areas like transportation or sensitive industries like defense and railroad.

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The mixed economic system combines the command economy and free-market economy, so it has the features of both of these two economic systems. It is also known as the Keynesian economic system or dual economic system.

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The pink-collar worker is one who is employed in a job that was traditionally considered to be women’s work. The term pink-collar worker was used to distinguish female-orientated jobs from the others. They are part of the tertiary sector. Tertiary activities are broader field concerned with providing service rather than production of tangible goods. These activities include a range of personal and business services, and they involve a rapidly growing number of workers in highly developed and diversified areas. These persons provide the services like those of retail clerks, barbers, secretaries, etc. They are said to be the workers who take in each other’s washing. People engaged in these activities called pink-collar workers.

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Ministry of Environment, forest and climate change gives approval for the usage of GM crops in cultivation. They do the assessment and check impact of GM crops on nature and give permissions.

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GM crops are the Genetically modified crops that involve mutation, insertion, and deletion of Genes. Genetic material(DNA) in the original seed is altered or artificially introduced using genetic engineering techniques.

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Nitrogen is the most overused fertilizer because of excess urea. Urea receives most subsidies and it is used heavily.

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India is the top pulses producing nation in the world. Top 3 pulses producing countries are India, Canada, Myanmar.

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Rajasthan is the top Mustard and Rapeseed Producing state. It produces approximately 48.12% of Mustard and Rapeseed. It is followed by Madhya Pradesh and Haryana.

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Kerala is the leading producer of coconut in the country. The coconut has multiple uses. All parts of coconut can be used for various purposes from medicinal to cooking.

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India exports cashew kernels to over 60 countries. The top markets are the US, the Netherlands, Japan, Spain, France, Germany, the UK as well as Middle East countries such as the UAE and Saudi Arabia.