A Special Economic Zone is a geographical region with: MCQ with Answer and Explanation

Question
A Special Economic Zone is a geographical region with:
A. higher tariffs than the rest of the country
B. liberal economic laws to promote exports and investment
C. complete prohibition of imports
D. no private sector activity
Answer: Option B
Solution (By JKSSB Mock Tests)
SEZs have more liberal economic laws to promote exports and investment.
This question belongs to: Economy GK Economy Set 1
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Practice More Economy Set 1 Questions

Question #1
Which Sustainable Development Goal relates to decent work and economic growth?
A. SDG 13
B. SDG 5
C. SDG 17
D. SDG 8
Discuss
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Correct Answer: Option D

Explanation:
SDG 8 promotes sustained, inclusive economic growth and decent work for all.
This question belongs to: Economy GK Economy Set 1
Question #2
In the context of economic planning, indicative planning is characterised by:
A. Complete government control over all sectors
B. Setting targets and providing incentives without compulsion
C. Absence of any targets
D. Only private sector planning
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Correct Answer: Option B

Explanation:
Indicative planning involves setting broad targets and providing incentives and information to guide private sector decisions rather than imposing compulsory directives.
This question belongs to: Economy GK Economy Set 1
Question #3
Which of the following is a major challenge for the Indian economy?
A. High level of human development across all states equally
B. Regional disparities and unemployment
C. Complete self-sufficiency in all goods
D. Absence of informal sector
Discuss
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Correct Answer: Option B

Explanation:
Regional disparities in development and persistent unemployment (especially youth and disguised unemployment) remain significant challenges for the Indian economy.
This question belongs to: Economy GK Economy Set 1
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