Buffer stock of food grains is maintained by the government mainly to: MCQ with Answer and Explanation

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Buffer stock of food grains is maintained by the government mainly to:

A. meet shortages and stabilize prices

B. increase exports

C. reduce agricultural production

D. support private traders

Answer: Option A

Solution (By JKSSB Mock Tests)

Buffer stocks are maintained to meet emergencies and stabilize food grain prices.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'e-filing' of income tax returns in India is done through:

A. RBI portal

B. SEBI portal

C. Income Tax e-Filing portal

D. GST portal

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Correct Answer: Option C

Explanation:
Income tax returns are e-filed on the Income Tax e-Filing portal.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'tax incidence' of a tax refers to:

A. the tax rate

B. who ultimately bears the economic burden of the tax

C. the amount of tax collected

D. who legally pays the tax

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Correct Answer: Option B

Explanation:
Tax incidence is the distribution of the economic burden of a tax between buyers and sellers.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on air freight is:

A. 12%

B. 28%

C. 5%

D. 18%

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Correct Answer: Option D

Explanation:
Air freight services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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