Economy & Business MCQs

11.

What role does the skilled workforce play in the success of Indian IT companies?

A It leads to higher costs and reduced competitiveness.

B It helps them secure major contracts and expand globally.

C It limits their ability to innovate.

D It makes them dependent on foreign expertise.

12.

The IT and BPO segments are driven by global demand for:

A Manual labor

B Traditional industries

C Digital transformation and related services

D Raw material extraction

13.

What is a potential challenge for the services sector exports?

A Increased global demand for digital services

B Global economic slowdowns

C Reduced competition

D Lower cost of services

14.

The services sector is crucial for India's economic diversification and its aspiration to become a:

A Global manufacturing hub

B Global services hub

C Global agricultural exporter

D Global energy producer

15.

What inherent strengths of India's services sector help it maintain growth momentum?

A High operational costs and limited talent

B Cost-effectiveness and high-quality talent pool

C Dependence on imported services

D Lack of innovation

16.

Government initiatives promoting digital infrastructure contribute to:

A Decreased competitiveness of the services sector

B Increased competitiveness of the services sector

C Reduced foreign exchange earnings

D Limited global footprint

17.

Which of the following is NOT mentioned as a service segment witnessing steady growth?

A Professional and management consulting

B Financial services

C Oil and gas extraction

D Healthcare services

18.

What strengths have Indian IT companies leveraged to secure global contracts?

A High labor costs and limited technological adoption

B Skilled workforce and technological prowess

C Reliance on imported technology

D Lack of innovation

19.

What global demands are fueling the growth in IT/BPO services?

A Traditional manufacturing processes

B Digital transformation services, cloud computing, and data analytics

C Fossil fuel exploration

D Manual labor services

20.

Which segments are the primary drivers of India's services sector export growth?

A Agriculture and manufacturing

B Information Technology (IT) and Business Process Outsourcing (BPO)

C Mining and heavy industry

D Textiles and handicrafts