Prelims Practice – Trade and Industry
Indian Trade and Industry – MCQs
UPSC | PSC – Prelims Practice
1. A trade deficit occurs when:
A) Exports exceed imports
B) Imports exceed exports
C) Exports equal imports
D) There are no imports
View Answer
Correct Answer: B
2. Which of the following is a major export of India?
A) Crude oil
B) Gold
C) IT services
D) Natural gas
View Answer
Correct Answer: C
3. The primary objective of the “Make in India” initiative is to:
A) Increase imports
B) Promote manufacturing
C) Reduce exports
D) Improve agriculture
View Answer
Correct Answer: B
4. The PLI Scheme is designed to:
A) Increase tax revenue
B) Promote domestic production
C) Reduce industrial output
D) Encourage imports
View Answer
Correct Answer: B
5. The MSME sector is important mainly because it:
A) Boosts imports
B) Generates employment
C) Controls inflation
D) Regulates banking
View Answer
Correct Answer: B
6. India is highly dependent on imports of:
A) Pharmaceuticals
B) IT services
C) Crude oil
D) Textiles
View Answer
Correct Answer: C
7. The term “Atmanirbhar Bharat” emphasizes:
A) Global dependence
B) Self-reliance
C) Reduced production
D) Increased imports
View Answer
Correct Answer: B
8. Which sector contributes the largest share to India’s GDP?
A) Agriculture
B) Manufacturing
C) Services
D) Mining
View Answer
Correct Answer: C
9. Industrial growth depends on:
A) Capital
B) Technology
C) Infrastructure
D) All of the above
View Answer
Correct Answer: D
10. The most effective way to reduce trade deficit is to:
A) Increase imports
B) Increase exports
C) Reduce production
D) Increase government spending
View Answer
Correct Answer: B
Focus on policy objectives, economic concepts, and sector-wise contributions.
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