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

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A Special Economic Zone is a geographical region with:

A. liberal economic laws to promote exports and investment

B. complete prohibition of imports

C. higher tariffs than the rest of the country

D. no private sector activity

Answer: Option A

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

The 'rate of inflation' is measured as:

A. change in exchange rate

B. change in price level over time divided by current price level

C. change in money supply

D. percentage change in price index from one period to another

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Correct Answer: Option D

Explanation:
Inflation rate is the percentage change in a price index from one period to the next.

This question belongs to: Economy GK Economy Set 1

Question #2

Excess capacity is a characteristic feature of which market structure?

A. Monopolistic competition

B. Perfect competition

C. Pure competition

D. Monopoly

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Correct Answer: Option A

Explanation:
Firms in monopolistic competition produce below optimum capacity, leading to excess capacity.

This question belongs to: Economy GK Economy Set 1

Question #3

External benchmark linked lending rates require banks to link retail and MSME loans to:

A. external benchmarks such as repo rate or Treasury bill yield

B. MCLR only

C. fixed deposit rate

D. base rate only

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Correct Answer: Option A

Explanation:
Banks link retail and MSME loans to external benchmarks such as the repo rate or Treasury bill yields.

This question belongs to: Economy GK Economy Set 1

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