Formal and Informal Sector

Q.

A skilled worker like a software professional generates more income than an unskilled worker. Why?

Q.

An establishment with four hired workers is known as _______________sector establishment. (formal/informal)

Q.

he workers in the unorganized sector need protection on the following issues : wages, safety and health. Explain with examples.

Q.

In the Informal sector, workers are entitled to social security benefits.

1. True

2. False

Q. Most of the workforce in India is .

1. self-employed
2. female
3. regular-salaried
4. casually employed

Q. XYZ is a company with 7 employees. The employees are given hourly wages and no gratuity benefits. XYZ will be classified as a/an organisation.

1. formal
2. informal
3. casual
4. non-commercial

Q. Consider the following groups of items:
(i)Factory buildings
(ii)Plant and Machinery
(iii) Stocks of raw materials
(iv)Wage bills
Which of these are known as working capital?

1. i and ii
2. iii and iv
3. ii, iii and iv
4. i, ii and iii

Q. Fill in the blanks with appropriate alternatives given in the bracket.
_______ capital has specific use.
[Floating, Fixed, Sunk, Money]

Q. Which of the following is true regarding employment in India?

1. Rural workers constitute about three-fourths of workforce
2. Women workers account for majority of the rural workforce
3. Men form the majority of workforce in India
4. Both A and B

Q.

The workers of a formal sector are not entitled to social security benefits like pension, medical allowance etc.

1. True

2. False

Q.

Which of the following is a feature of the Informal sector?

1. Less earning

2. Social security benefits

3. None of the above

4. Protected by laws

Q.

Informalisation refers to a situation when the proportion of the workforce in the informal sector to total workforce increases

1. True

2. False