Here we are providing 1 Mark Questions for Economics Class 12 Chapter 1 Indian Economy on the Eve of Independence are the best resource for students which helps in class 12 board exams.
One Mark Questions for Class 12 Economics Chapter 1 Indian Economy on the Eve of Independence
Name the popular fields of Indian handicrafts industry.
The popular fields of Indian handicrafts industry were cotton and silk textiles, metal and precious stone works, etc,
Where was the muslin type of cotton textile found in India? .
The muslin type of cotton textile had its origin in Bengal, particularly, places in and around Dhaka (known as Dacca before partition), now the capital city of Bangladesh.
What was the state of country’s real output during the first half of the twentieth century?
The country’s growth of aggregate real output was less than two per cent during the first half of the twentieth century.
What was the major occupation in India on the eve of independence?
Agriculture was the major occupation in India on the eve of independence.
Name any two commercial crops.
Cotton, jute and sugarcane are commercial crops.
What do you mean by stagnant agriculture?
Stagnant agriculture implies incrementally low agricultural product.
Define subsistence agriculture.
Subsistence agriculture refers to growing food for self-consumption and not for sale in the market.
Name the industries which were in operation in our economy at the time of independence.
Handicrafts industries, metal and precious stone works, cotton and jute textile mills, iron and steel industries were in operation in our economy at the time of Independence.
When and where was the first iron and steel company established?
The first iron and steel company was established in 1907 at Jamshedpur.
What was the impact of decline of the indigenous handicraft industries?
The impact of the decline of the indigenous handicraft industries was massive unemployment and shortage of locally made goods in India.
Define capital goods.
Capital goods are those goods which are producer’s fixed assets and are used in the production of other goods and services.
Define foreign trade.
Foreign trade is exchange of capital goods and services across international borders or territories.
What do you mean by exports?
The term exports mean shipping the goods and services out of the port of a country.
What is import?
An import is a good brought into a jurisdiction, especially across a national border, from an external source.
Name two items each of export and import during British rule.
The items of export were:
- Raw silk
The items of import were:
- Woollen Clothes
- Light machinery
Name the countries with which India used to trade during British Rule.
More than 50 percent of India’s trade was confined to Britain. Other countries with which India used to trade were China, Ceylon (Sri Lanka) and Persia (Iran).
Define occupational structure.
Occupational structure is the distribution of the population according to the occupations in different sectors of the economy.
What is meant by primary sector?
The primary sector includes all the activities that are directly associated with the use of natural resources.
What is meant by secondary sector?
The secondary sector includes all the activities which are related to transformation of natural products into other forms by the process of manufacturing.
Define tertiary sector.
The tertiary sector includes the activities related to supplying services to consumers and businesses.
Write the percentage of population engaged in different sectors of the economy on the eve of independence?
Primary Sector – 72.7 percent
Secondary Sector – 10.1 percent
Tertiary Sector – 17.2 percent