1. Generally an economy is considered under developed if

A) The standard of living of people & Productivity is low.
B) Agriculture is the main occupation of the people
C) The production techniques are backward.
D) All of the above.



2. Which of the following statement is correct?

A) Agriculture occupies 10 per cent population of India.
B) Nearly 5 per cent population of India is below the poverty line.
C) The production techniques in agriculture are backward.
D) None of the above.



3. Which of the statements is correct?

A) The tertiary sector contributes the maximum to the GDP.
B) India is basically a socialist economy.
C) The distribution of income and wealth is quite equitable.
D) None of the above.



4. In perfect competition in the short run there will be __________ possibilities

A) Normal profits.
B) Supernormal profits.
C) Loss
D) All of above



5. ______________ measure generally gives the lowest estimate of unemployment especially for poor economy.

A) Usual status.
B) CWS.
C) CDS.
D) CMS.