Economics Practice Quiz 90

Q1.What two major problems did cotton weavers in India face simultaneously due to the development of cotton industries in England?

A. Lack of raw materials and high labor costs. B. Collapse of export market and shrinking local market. C. Government taxes and lack of skilled labor. D. Competition from local mills and changing fashion trends.

Q2.Why were the imported cotton goods from Manchester so cheap that Indian weavers could not easily compete with them?

A. They were made from inferior quality cotton. B. They were produced by machines at lower costs. C. The British government subsidized their export. D. Indian consumers preferred British designs.

Q3.By the 1860s, what new problem did weavers in India face regarding raw materials?

A. High prices of raw cotton. B. Lack of demand for their finished products. C. Insufficient supply of raw cotton of good quality. D. Increased taxes on raw cotton imports.

Q4.What was the immediate impact on weavers in India when raw cotton exports from India increased?

A. They received subsidies from the British government B. They were starved of supplies and forced to buy raw cotton at exorbitant prices C. They found new international markets for their finished goods D. Their weaving industries became highly profitable

Q5.What was a primary characteristic of Indian commercial groups' involvement in trade during the Age of Industrialisation?

A. They primarily focused on external trade with European nations. B. They were directly involved in the shipping business to Europe. C. They operated mainly within India, managing internal trade and finance. D. They controlled a large sector of Indian industries till the First World War.

Q6.Which of the following was a primary export from India required by the British, as Indian merchants were restricted under colonial control?

A. Finished textile products B. Industrial machinery and locomotives C. Raw cotton, opium, wheat, and indigo D. Advanced capital goods

Q7.In the context of European Managing Agencies in India, what was the typical division of roles between Indian financiers and European Agencies?

A. Indian financiers made all investment decisions, while European Agencies provided capital. B. European Agencies provided all capital and made all business decisions. C. Indian financiers provided the capital, while European Agencies made investment and business decisions. D. Both Indian financiers and European Agencies jointly managed capital and decisions equally.

Q8.What was a significant characteristic of capital goods industries in colonial India until Independence?

A. They developed rapidly, surpassing textile industries. B. They were primarily focused on exporting machinery. C. They could not develop in any significant way as machinery was mostly imported. D. They were entirely controlled by Indian financiers.

Q9.What was the proportion of factory workers in the total industrial workforce?

A. A large majority B. Roughly half C. A small proportion D. An increasing but insignificant number

Q10.What was the status of cotton production and exports of cotton cloth from Britain after the war?

A. Cotton production increased, but exports remained stable B. Cotton production collapsed, and exports fell dramatically C. Both cotton production and exports saw a significant boom D. Cotton production shifted to other European markets

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Economics Practice Quiz 90