The basic objectives of Indian planning are

a) economic growth 

b) self-reliance

c) employment generation 

d) population growth 
    1) 1, 2 and 4
    2) 1, 2 and 3
    3) 2 and 3
    4) 1, 2, 3 and 4 

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Mocroeconomics is concerned with

a) behavior of industrial decision-markers 

b) the level of employment 

c) changes in the general level of prices 

d) determination of prices of goods and services 
    1) 1 and 2
    2) 2 and 3 
    3) 3 and 4
    4) 1 and 4

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The Planning Commission of India

a) was set un in 1950

b) is a constitutional body

c) is an advisory body

d) is a government department 
    1) 1 and 2
    2) 2 and 3
    3) 1 and 3
    4) 3 only 

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Word List

Burglar : Thief, bandit, brigand, stealer

Bystander : Spectator, onlooker, beholder

Calculate : Estimate, count, reckon, compute

Callous : Hard, indifferent, cold-blooded

Calm : Cool, confident, quiet, serene, tranquil

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FOREIGN WORD AND PHRASES

Beau ideal : the ideal of perfection.

Beaumonde : the world of fashion. 

Beaux esprits : men of wit

Bete noire : a special aversion (India has always been bete noire for Pakistan)

Bona fide : good faith (His bona fide in the matter cannot be doubted)

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One Word - A Small Collection

Anecdote - A short interesting or amusing story

Anthology - A collection of poems or writings

Aphorism - (or maxim) A wise saying in a few words 

Aphrodisiac - A medicine causing sexual excitement 

Apiary - A place where bees are kept 

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It Who was the first Deputy Chairman of Planning Commission of India ?

a) Shri Jawaharlal Nehru

b) Dr Rajendra Prasad

c) Slit VT Krishnamachari 

d) Shri C Rajagopalchari

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The deputy chairman of the Planning Commission

a) is the Prime Minister

b) is the Planning Minister

c) Holds the rank of a cabinet minister

d) is an economist of repute

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Word List

Behavior : Conduct, development, way, demeanour

Brave : Courageous, intrepid, bold, daring, valiant 

Brisk : Active, fast, quick, busy, alert 

Brittle : Frail, fragile

Brutal : Animal, savage, beastly, cruel 

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One Word - A Small Collection

Altruist - One who is habitually kind to others

Alumnus - A former student of a school or college

Ambivalent - The word means simultaneous attraction to-words and repulsion from an object, person or action. The attitude of educated Indians to love-marriages is ambivalent

Anachronism - That which appears to be in the wrong period

Anarchy - Lawlessness and disorder caused by absence of control 

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FOREIGN WORD AND PHRASES

Apropos : in respect of 

An couran : fully acquainted with matters.

Au fait : Expert 

Au revoir : Until we meet again (to say au revoir at parting) 

Avant propos : preliminary matter, preface 

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Who is the Deputy Chairman of Planning Commission ?

a) Prime Minister

b) Finance Minister

c) Commerce Minister 

d) None of the above

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Which of the following may be termed long-term objectives of Indian planning?

1. Self-reliance 

2. Productive employment generation

3. Growth of 7 per cent per annum 

4. Growth in infrastructure 
    a) 1 and 2
    b) 3 and 4
    c) 1, 2 and 4
    d) 2, 3 and 4

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Dadabhai Naoroji theorised on the drain of wealth from India in his book

a) Poverty under British Rule in India

b) Poverty in British Rule in India

c) Poverty and Un-British Rule in India

d) Poverty of Economic Drain in British India 

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Which of the following features indicate that Indian economy is of the developing category ?

1. Occupation mainly agricultural 

2. Chronic unemployment 

3. Poor quality of human capital 

4. Low per capita intake of proteins

    a). 1, 2 and 3 

    b). 1 and 4 

    c). 2 and 3 

    d). 1,2,3 and 4 

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Word List

Astonish : Astound, surprise, amaze, bewilder

Audacious : Bold, courageous, daring

Aversion : Dislike, detestation, hostility, hatred

Base : Mean, low, ignoble

Beg : Implore, ask, beseech, solicit 

 

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FOREIGN WORD AND PHRASES

Amende honorable : satisfactory apology, repapration.

Amour propre : self love

Ancien regime : the forrner order of things.

A posteriori : empirical

A priori : from cause to effect, presumptive. (every science cannot be taught a priori)

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One Word - A Small Collection

Agnostic - One who believes that nothing can be know about God

Agoraphobia - Fear of open spaces

Alibi - It is Latin for elsewhere. It is actually a plea of having been elsewhere at the time of commission of an act. But it is now used in the sense of an excuse. Example: He offered no alibi for his absence from duty.

Alimony - Compensatory allowance given to wife after divorce

Allergic - Allergy means, a heightened sensitivity to a substance as food, medicine ete. Allergic to hard work.

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Among the achievements of Indian planning, we may include

a) Development of strong infrastructure

b) diversification of industry and exports

c) high growth of national income 

d) strong control over prices 
    1) 1 and 2    2) 1,2 and 3    3) 1,2, and 4    4) 2 and 3

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Economic Planning is a Subject

a) in the Union List

b) in the State List

c) in the Concurrent List

d) Unspecified in any special list 

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Word List

Absurd : Ridiculous, silly, foolish

Abundant : Ample, plentiful

Accessory : Additional, auxiliary, subsidiary

Adept : Proficient, skilled, expert

Assent : Agree, consent, acquiesce

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FOREIGN WORD AND PHRASES

Ad infinitum : to infinity

Alma mater : a school which one has attended.

A la carte : according to the bill of face. (a la carte dishes are available)

Alamode : according to the custom (fashion). (a la mode silk)

Alter ego : the other self, intimate friend, (Kissinger is the alter ego of Nixon)

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One Word - A Small Collection

Amnesty - General Pardon

Abattoir - A building where animals are killed for meal ( or slaughterhouse )

Ad hoc - Made for a particular purpose

Aeronautics - The science of the operation and flight of aircraft 

Aesthete - A person with a highly developed sense of beauty

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Word

Given below is a list of words placed in alphabetical order. Each word is followed by a few of its synonyms. Note these words whenever you come across them. You should be familiar with most of the words for which synonyms are given if you have done all the exercises till this point thoroughly. So, this list will be giving you synonyms for the words which you know. Thus learning will be easier.

Abandon : Leave, Desert, Forsake

Abase : Degrade, Disgrace, Humiliate

Abhor : Hate, loathe, detest 

Abridge : Shorten, abbreviate

Absolute : Unalterable, unrestricted, unconditional

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FOREIGN WORD AND PHRASES

Foreign words and phrases are generally not asked directly. But the knowledge of foreign words and phrases will help you in reading comprehension and other types of common questions. So, make yourself familiar with the common foreign words and phrases.

Ab initio : from the beginning.

Ab origin : from the origin.

Addenda : list of additions. (addenda to a book ) 

Advalorem : according to value.

Ad hoc : a body elected or appointed lor a definite work. (ad hoc committee)

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One Word - A Small Collection

Acrobat -   One who performs gymnastic feats

Adolescence -   The period of life from puberty to maturity

Actuary -   One who calculates insurance and annuity premium etc

Adulterate -   Make impure by the addition of inferior substance 

Aggression -   Unprovoked attack of one country by another



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National Development Council was set up in

a) 1948

b) 1950

c) 1951

d) 1952



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India's economic planning cannot be said to be

a) indicative

b) imperative

c) limited

d) democratic



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'Mixed Economy' means

a) co-existence of small scale and large scale industries

b) co-existence of the rich and the poor

c) co-existence of private and public sector

d) assigning equal importance to both agriculture and heavy industries



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India has

a) Socialistic Economy

b) Gandhian economy

c) Mixed economy

d) free economy



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The Concept of five Year Plans in India was introduced by -

a) Lord Mountbatten
b) Jawaharlal Nehru
c) Indira Gandhi
d) Lal Bahadur Shastri





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Indian Economy ( Exercise -1 )

1. Who is called the Farther of Economics?

a) Max Muller 
b) Karl Marx
c) Adam Smith 
d) None of the above 



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One Word - A Small Collection

Abdicate         -   Rebounce a throne, high office or dignity
Abolish           -   Do away with 
Accelerate      -   To move faster
Accomplice     -  One associated with another especially in  
                             wrong-doing
Acoustics         -   Science of the production, transmission, 
                             reception and effect of sound  


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