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10 Multiple Choice Questions on Five Year Plans & Planning Commission

Just before a decade or so before India becmae independetnt, British Raj had started the practice of planning for a period.formally established a planning board that functioned from 1944 to 1946 which was comprising of private industrialists and economist.After independence, the Planning Commission was set up on 15 March 1950, by the Government of India, which formulates India’s Five-Year Plans, among other functions. Planning Commission though is a non statutory as well extra constitutional body, i.e. has been brought by an executive order.

The first Five-year Plan was launched in 1951 and two subsequent five-year plans were formulated till 1965, when there was a break because of the Indo-Pakistan Conflict. Two successive years of drought, devaluation of the currency, a general rise in prices and erosion of resources disrupted the planning process and after three Annual Plans between 1966 and 1969, the fourth Five-year plan was started in 1969.

10 Questions Quiz on Planning Commission and Five Year Plans

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Comments ( 35 )

  1. I understand that Banking operations directly have impacts on the Indian economy , Like wise what is the role of stock market ? How does stock market operations affect Indian economy ? And what is the need for stock markets ? Are stock markets govt organisations or pvt concerns ? Pls tell me elaborately
    I understand that Banking operations directly have impacts on the Indian economy , Like wise what is the role of stock market ? How does stock market operations affect Indian economy ? And what is the need for stock markets ? Are stock markets govt organisations or pvt concerns ? Pls tell me elaborately

  2. Caroline Luciani
    March 9, 2012 at 11:31 AM

    What are the reasons for the recent Real Estate Boom in Indian Economy?

  3. i would be greatly obliged if sumone can tell me exactly, from an economist’s view, what the definition and meaning of foreign trade is and especially its role in the indian economy. i also need statistical data regarding the structure of india’s foreign trade , the composition, main items of export and import and the gradual trend over the years as the economy has progressed. i would be thankful if a good link/site/url is also given.

  4. CAn someone please help me with this questions , thanks:

    1.Suppose you own a video rental store. List some of the fixed inputs and variables inputs you would use in operating the store.

    2.Ace Manufacturing produces 1,000 hammers per day. The total fixed cost for the plant is $5,000 per day, and the total variable cost is $15,000 per day. Calculate the average fixed cost, average variable cost, average total cost, and total cost at the current output level.

  5. Does migration affect the Indian economy? If Yes, could you just explain in a few lines?

  6. My original major is Japanese, but i’m planning on double majoring, but I don’t know what would be more useful a degree in economics or a degree in Asian studies with a concentration in economics.

    What should I do?

  7. World financial crisis has shattered US economy and comparetively Indian economy is in strong position. No immediate threat of recession and jobloss. what is the reason that making dollor stronger.

  8. Just write some thing about Indian Economy in 200 words?

  9. Laissez-faire economics can only work if capital & labor are free to move where the best returns/jobs are. International borders prevent the free movement of labor. This means conservative economics can’t work. I’m surprised conservatives aren’t calling for OPEN borders to give their Utopian economic theories a chance to work. Instead, they embrace irreconcilable economic contradictions without realizing it.

  10. what are the emerging policy issues within the indian tertiary sector…especially with respect to education
    i wd like u all to provide me any information u have on this topic….nd any relevant links or sources of information on the above topic
    thnx in advance

  11. My first time studying a 1st yr economics course. The textbook seems very dense (economics by christopher ts ragan). The teacher supplements very little practise material. Any suggestions for practise sample question books/how to get the most out of my reading?

  12. What role does influencing human behavior play in economics? In the midst of the recession(which began in 2007 but no one acknowledged till months later) we, the educated ones, were whispered that we mustn’t say ‘recession’ because telling the truth about the recession would only exacerbate it. I see however many times on Fox News and others attempts at shaping the mind and social behavior in such a way as to influence economic and financial behavior of its viewers and society at large.
    If economics can be boiled down to influencing human behavior, not simply predicting it, how valid a science is economics?

  13. From a supply perspective, the higher the price of a good, the _______of that good will be produced.
    a. less
    b. more
    c. same amount
    d. duplicate

  14. The question is a prompt for which I have to write an essay for my economics class. I have no idea what to write! I know next to nothing about economics, and it has to be five paragraphs. Thanks in advance for any help!

  15. What difference will it make to Indian economy if the government manages to get back all the black money in Swiss Accounts? If we get back the money and reduce the duty on petrol, reduce inflation, then what will happen to common man? Will all people become rich? Will stocks increase or decrease?

  16. You have a choice to either major in Quantitative Economics or Economics. I am not afraid of all the math required, I just want to know what the difference is and if the quantitative will make me more marketable.

  17. What is the difference between home economics and economics?
    Home ecoomics is considered to be a soft option for an As level subject. So is economics the same. And also is economics a soft or good As level choice?

  18. Shes Too Cool 4 U
    April 16, 2012 at 7:22 AM

    In my ECO/212 class, our question for the day is what role does economics play in my personal and organizations decisions? Provide an example of the role of economics in decision making.

  19. Discuss the stracture of indian economy. What change shave been taken place in last decade?

  20. economics is merely allocating resources but it is much more then that

  21. Drew Bobawhaaaaat
    May 17, 2012 at 2:49 PM

    I have done undergraduate economics before – most of it is mainly theory with diagrams and models. There is a lot of rote memorisation and a bit of calculations.
    I am now going to start postgraduate studies in economics. I had a look at one postgrad economics exam paper, and I was shocked to see so much mathematics in it – especially calculus and formulas. Especially Hamiltonian and Lagrangian.

    My maths isn’t so good especially applied calculus. How can I cope with postgrad economics?

  22. everythingisgonnabefine
    May 20, 2012 at 6:17 PM

    I need websites or links and information on Canadian vs Indian economy in 2008-2009.

  23. Explain how Banks are playing a key role in Indian Economy? this is the question asked mostly in bank interviews. Pls reply on this.

  24. Rachael Lunsford
    May 24, 2012 at 2:39 PM

    Who are the real beneficiaries of on-line trading? Whether it is suited to indian economy? Whether it is going to spoil the economic climate in the near future?

  25. HSC economics? i have a choice to do economics and i really have no idea what it’s about, i am aware it is about money and finance however i am a bit vague with the subject, can any one shed some light on the subject??
    thanks for your help.

  26. Did ever any Indian politician contribute in the Indian Economy?
    If Yes then, How?
    When they start political carrier they are zero, but after few year they are millionaires.
    We are working very hard and getting very less. But they are doing nothing and getting a lot.
    They just are playing with the feeling of simple citizens.

  27. How much does it take (in INR) to get admission in Top US universities as per current Indian Economy? Do we have negative marking in GRE? Which is the best book(free download ;)) available online? Is the New pattern difficult then older one?
    Also tell me minimum marks required to get admission in good US uni

  28. I am doing Intra day Share trading. I am unable to gather the up to date news of Indian economy, world economy, RBI statements, Monsoon information Government policies news, Crued oil information in One site. Lot of sites are there and unable catch the news. Any body guide sites to collect the above information.

  29. Hi, This is an odd question, but I absolutely LOVE Mayfair and one day would love to own a huge house there and basically be able to afford one. I am planning on doing Economics Finance and Management at University and i was wondering, what job in that area could make me a millionaire?

    I know things aren’t that simple but I’m just really interested in knowing!

    Or any job to do with Economics…


  30. How does trickle down economics/tax cuts give the Rich/Wealthy more incentive to hire and or work harder or create jobs ?

  31. How does trickle down economics/tax cuts give the Rich/Wealthy more incentive to hire and or work harder or create jobs ?

  32. Macro Economics- How does classical economics explain its confidence in the ability of natural forces to return the economy to its potential level of real GDP?

  33. Wondering what is the difference between economics, finance, business, marketing, accounting degrees. Can someone provide a very brief description of each? Also, which one would be the best option if I wanted to become an analyst for a firm like Goldman Sachs?

  34. What does Keynesian economics say the government should spend money on to create Jobs ?

  35. […] Economic planning is a resource allocation mechanism that is contrasted with the marketplace mechanism. As a coordinating device for socialist economics, financial preparation substitutes aspect markets and is defined as a straight allocation of resources. This is contrasted with the indirect allocation system of a market economy. There are numerous kinds that economic planning treatments and types intending can take.The degree of centralization in decision-making in planning relies on the details sort of planning system employed. As such, one can distinguish between central planning as well as decentralized planning.An economic climate mostly based upon central planning is described as a planned economy. In a centrally intended economic climate the allotment of sources is identified by a detailed strategy of production which specifies outcome requirements.Planning might additionally take the form of directive planning or a indicative planning. Click here for  Quiz on Five Year Plans & Planning Commission […]

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