A quota is a: MCQ with Answer and Explanation

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A quota is a:

A. type of exchange rate

B. quantitative restriction on imports or exports

C. tax on exports

D. price support for imports

Answer: Option B

Solution (By JKSSB Mock Tests)

A quota is a quantitative restriction on imports or exports.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is a characteristic of the 'Platform Economy'?

A. Only government-provided services

B. Only agricultural markets

C. Digital platforms that intermediate between groups of users and often exhibit strong network effects

D. Only traditional brick-and-mortar retail

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Correct Answer: Option C

Explanation:
The platform economy consists of digital multi-sided platforms that facilitate interactions and transactions between different groups of users (e.g., buyers and sellers, drivers and riders) and typically display network externalities.

This question belongs to: Economy GK Economy Set 1