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12th Economics Weekly Test - 1 ( Economics of Development and Planning )

St. Britto Hr. Sec. School - Madurai

12th Economics Weekly Test - 1 ( Economics of Development and Planning )-Aug 2020

Time : 1.30 Hours

Part - A

Multiple Choice Question - Answer All Question

Consider the statements: 1. In India, the Planning Commission was constituted in 1950 as an advisory corporation. 2. A provision has been given in Indian constitution of Planning Commission. Select the correct statement/statements by using the codes given below.

1 only
2 only
1 and 2
None of these

The concept "development" refers to the _____________ changes towards betterment.

systematic
seasonal
structural
functional

In logical order, the Planning Commission was created on_ and the plan era began on with the launch of the first five year plan.

April 1, 1951 and March 15, 1950
March 15, 1950 and April 1, 1951
April 1, 1951 and March 15, 1951
All the above are incorrect

A Finance Commission is set up once in every________________?

Dalton
Schumpeter
Robbins
Arthur Lewis

Match the correct codes

1 Low Income Countries i. Gross National Income (GNI) Per Capita.

2 Middle Income Countries ii. GNI Per Capita of $906 And below

3 High Income Countries iii. GNI Per Capita Ranging Between $906 And $11, 115

4 The World bank in its World Development Report classified various countries on the basis of iv. GNI Per Capita of $11,116 Or more

(1) – (i) (2) – (ii) (3) – (iv) (4) – (iii)
(1) – (ii) (2) – (iii) (3) – (iv) (4) – (i)
(1) – (iv) (2) – (iii) (3) – (i) (4) – (ii)
(1) – (i) (2) – (ii) (3) – (iii) (4) – (iv)

Which among the following is a characteristic of underdevelopment?

Vicious circle of poverty
Rising mass consumption
Growth of lndustries
High rate of urbanization

Normally, India has been adopting

annual plans
rolling plans
mid-term plans
perspective plans

National Planning Commission came into force on _____________?

January 26, 1950
January 15, 1950
January 26, 1951
August 15, 1950

Planning in many LDCs has failed because detailed programs for the public sector have not been worked out and

governments depend primarily on their colonial masters.
excessive controls are used in the private sector
the brain drain cost government substantially.
monopolies dominate in the agricultural sector

_______planning refers to that planning which seeks to remove economic difficulties.

Comprehensive
Financial
Functional
Decentralized

Part - B

Generic 2 - Answer All Question

What is long term planning?
What is physical planning?

Write any two Economic factors.

What are the differences between centralized and decentralized plan?

What are the implication of NITI Aayog?

What is the key difference between Financial and Physical Plan?

Part - C

Generic 3 - Answer All Question

Distinguish between functional and structural planning.

Describe the case for planning

Explain about traditional approach.

What are essential features of an economic plan

What are the Economics factors of determinants of economics development?
Write a note on loss of freedom

Part - D

Generic 5 - Answer All Question

Draw the 7 pillars of NITI Aayog

Compare and contrast the “Planning Commission” and NITI Aayog”
Bring out the arguments against planning.

Discuss the economic determinants of economic development.

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