Worksheet

Subject: Economics (XII)

Topic: Five-year plans in India: Goals and achievements

1) In which year was India’s first five-year plan launched?

a)1951
b)1947
c)1940
d)1955
2) Which of the following bodies /institutions was engaged in the formulation of five-
year plans in India?
a) Planning commission
b) National Development council
c) Finance ministry
d) Home ministry
3) When was planning commission established?
a) 1947
b) 1948
c) 1950
d) 1951
4) Directive planning is pursued under
a) Capitalist economy
b) Socialist economy
c) Mixed economy
d) None of these.
5) Which of the following objectives is not a general objective of five-year plans in
India?
a) Increase in national income
b) Increase in standard of living
c) Economic stability
d) Improvement in the quality of education.
6) An economy is which means of production are used in a manner such that social
welfare is maximized is called
a) Mixed economy
b) Socialist economy
c) Capitalist economy
d) None of these
7) Which was the last five-year plan in India?
a) Eleventh plan
b) Twelfth plan
c) Thirteenth plan
d) Fourteenth plan

8) Natural rate of unemployment is consistent with the situation of

a) Full employment
b) Underemployment
c) Overemployment
d) Structural unemployment.