Economics Questions and Answers – Part2
21. Who is the father of Modern Economics?
Adam Smith
22. Which is the famous book on Economics written by Adam Smith?
A wealth of Nations
23. Adam Smith postulated which theory on Economics?
Theory of Laissez Faire
24. Which type is Indian Economy?
Mixed Economy
25. What is the name of Economy where imports and exports are allowed?
Free Economy
26. What is the name of the Economy where imports and exports are not allowed?
Closed Economy
27. Which is the famous book on Economics written by Dadabjao Naoroji?
Poverty and un-British rule of India
28. Who wrote the famous book on Economics “Planned Economy of India”
M. Visveswarayya.
29. When was the planning Commission of India set up?
1950
30. Who was the first chairman of the Planning Commission of India?
Jawaharlal Nehru
31. When was the National development Council (NDC)set up?
1959
32. Which body gives the final approval to planning in India?
The National Development Council
33. Who is the chairman of the National Development Council?
Prime Minister
34. Who are all the members of The National Development Council?
All Chief Ministers of State
35. Which was the period of the first five year plan of India?
1951-56
36. What was the priority given to the first five year plan?
Agricultural Devvelopment
37. Which was the period of the second five year plan of India?
1956-61
38. What was the priority given to the second five year plan?
Industrial development
39. Which was the period of the third five year plan of the India?
1961-66
40. Which period was considered as the plan holiday?
1966-69
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