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Industrial Sector and Five-Year Plans Class 12 Economics MCQs with Answers
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Class 12 Economics MCQs – Five-Year Plans and Industrial Development
Introduction:
Boost your CBSE Class 12 Economics preparation with this online MCQ practice test on “Industrial Sector and Five-Year Plans.” This important topic from Part B: Indian Economic Development explores India’s industrial progress during the planned development phase between 1950 and 1990.
These MCQs are designed strictly as per the latest NCERT Class 12 Economics syllabus, ensuring full alignment with the CBSE board exam pattern. The quiz covers essential concepts such as the objectives of industrial policy, the role of public and private sectors, key industries under Five-Year Plans, industrial licensing (License Raj), import substitution policy, and challenges faced by the industrial sector.
With automatic scoring and instant feedback, this interactive test allows students to assess their conceptual understanding, strengthen their knowledge, and improve accuracy. Ideal for self-assessment, classroom learning, or revision, this quiz provides an engaging and exam-oriented experience.
Master one of the most significant chapters in India’s economic history with this NCERT-based online MCQ test on Industrial Sector and Five-Year Plans and achieve exam excellence in CBSE Class 12 Economics.
Sample MCQs with Explanations:
1. The main objective of the Second Five-Year Plan was:
A) Agriculture development
B) Industrialization
C) Infrastructure growth
D) Export promotion
✅ Answer: B) Industrialization
💡 Explanation: The Second Plan focused on rapid industrialization using the Mahalanobis model for long-term growth.
2. Which of the following industries was part of the public sector under the Industrial Policy Resolution of 1956?
A) Textiles
B) Railways
C) Sugar
D) Cement
✅ Answer: B) Railways
💡 Explanation: Railways and other key industries were reserved for the public sector to promote economic self-reliance.
3. The License Raj system in India refers to:
A) Trade liberalization
B) Import restrictions only
C) Government control over industrial licensing
D) Export promotion schemes
✅ Answer: C) Government control over industrial licensing
💡 Explanation: Under License Raj, industries required multiple licenses to start or expand production.
4. Import substitution policy aimed to:
A) Encourage exports
B) Promote domestic production
C) Reduce government expenditure
D) Control inflation
✅ Answer: B) Promote domestic production
💡 Explanation: The policy focused on replacing foreign goods with domestically manufactured products to achieve self-sufficiency.
5. The First Five-Year Plan primarily emphasized:
A) Agriculture
B) Heavy industries
C) Banking sector
D) Technology
✅ Answer: A) Agriculture
💡 Explanation: The First Plan (1951–56) prioritized agriculture to tackle food shortages and ensure stability in rural India.
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