Economic MCQs with answers Page - 110

A

Admin • 802.91K Points
Coach

Report

Q. Steel sheets used in the production of furniture is an example of

• (A) an intermediate good
• (B) a final good
• (C) an investment good
• (D) a consumption good

Show Answer Discuss Share

Correct answer - Option (A)

Explanation:

Intermediate goods are semi-finished products are goods that are used as inputs in the production of other goods including final goods. It comprises material or item that is a final product of a process, but is also used as an input in the production process of some other good. In the production process, intermediate goods either become part of the final product, or are changed beyond recognition. Steel sheets serve as raw materials in the production of furniture.

A

Admin • 802.91K Points
Coach

Report

Q. Identify the one which is not related to the Agricultural Price Policy.

• (A) Buffer stock
• (B) Imports
• (C) Support price
• (D) Licensing

Show Answer Discuss Share

Correct answer - Option (D)

Explanation:

Licensing is a marketing and brand extension tool that is widely used by everyone from major corporations to the smallest of small business. A license may be issued by authorities, to allow an activity that would otherwise be forbidden.

A

Admin • 802.91K Points
Coach

Report

Q. As per the TRIPS Agreement1994, a good originating from a region with specific character/ quality/reputation is covered/to be protected under the IPR as

• (A) Patent
• (B) Trademark
• (C) Trade secret
• (D) GI (Geographical Indicator)

Show Answer Discuss Share

Correct answer - Option (D)

Explanation:

Geographical Indication (GI) means the name of a region or a locality, a specific place or, in exceptional cases, a country, used to describe a product originating in that region, locality, specific place or country, which possesses a specific quality, reputation or other characteristics attributable to that geographical origin, and the production and/or processing and/or preparation of which take place in the defined geographical area.

A

Admin • 802.91K Points
Coach

Report

Q. The upper limit of investment in plant and machinery for small scale industries has been fixed currently at

• (A) 35 lakhs
• (B) 45 lakhs
• (C) 60 lakhs
• (D) 1 crore

Show Answer Discuss Share

Correct answer - Option (D)
Explanation not found. Add explanation and get +2 points.

A

Admin • 802.91K Points
Coach

Report

Q. The system of “Memorandum of Understanding” (MoU) was introduced in

• (A) 1989 – 90
• (B) 1990 – 91
• (C) 1987 – 88
• (D) 1988 – 89

Show Answer Discuss Share

Correct answer - Option (C)

Explanation:

The System of Memorandum of Understanding was introduced in the Public Sector Enterprises during the year 1987-88 in India. It was based on the report of the Arjuna Sengupta Committee (1984).

A

Admin • 802.91K Points
Coach

Report

Q. Coal mines were Nationalized in the year

• (A) 1970
• (B) 1971
• (C) 1972
• (D) 1976

Show Answer Discuss Share

Correct answer - Option (C)

Explanation:

The Coal Conservation and Development Act, 1974 provides for imposition of excise duty on coal despatches for meeting activities like conservation of coal, development of coal mines execution of stowing and other operations for the safety in coal mines and research work connected with conservation and utilisation of coal, and assistance in mining operation. The Coking Coal (Nationalisation) Act was enacted in 1972.

A

Admin • 802.91K Points
Coach

Report

Q. Buffer stock operations are conducted by

• (A) Warehousing Corporation of India
• (B) State Trading Corporation of India
• (C) Food Corporation of India
• (D) Ministry of Agriculture

Show Answer Discuss Share

Correct answer - Option (C)
Explanation not found. Add explanation and get +2 points.

A

Admin • 802.91K Points
Coach

Report

Q. Who decides the office of profit?

• (A) President and Governor
• (B) Union Parliament
• (C) Supreme Court
• (D) Union Public Service Commission

Show Answer Discuss Share

Correct answer - Option (A)
Explanation not found. Add explanation and get +2 points.

A

Admin • 802.91K Points
Coach

Report

Q. Which of the following iron and steel plants is correctly matched with its establishing country?
Steel plants Country
1. Bokaro Japan
2. Bhilai Erstwhile USSR
3. Rourkela Germany
4. Durgapur United Kingdom
Choose the correct option:

• (A) 1, 2 and 3 only
• (B) 1, 3 and 4 only
• (C) 2, 3 and 4 only
• (D) All of the above

Show Answer Discuss Share

Correct answer - Option (C)

Explanation:

Correct answer: C
• Bokaro Steel Plant - the fourth integrated plant in the Public Sector - started taking shape in 1965 in collaboration with the Soviet Union.
• The Bhilai Steel plant was established with Russian (erstwhile USSR) collaboration in Durg district of Chhattisgarh and started production in 1959
• Rourkela Steel Plant (RSP), in Rourkela, Odisha is the first integrated steel plant set up with West Germany in the public sector in India.
• Durgapur Steel Plant of Steel Authority of India Limited, located in Durgapur, West Bengal. It was set up with the help of United Kingdom.

• Previous
• First
• 110
• Next

Jump to Go