Dumping refers to: MCQ with Answer and Explanation

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Dumping refers to:

A. buying goods from abroad at lower prices

B. selling goods in a foreign market below cost or home market price

C. exporting goods with subsidies

D. imposing high tariffs on imports

Answer: Option B

Solution (By JKSSB Mock Tests)

Dumping is selling goods in a foreign market below cost or home market price.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Goods and Services Tax' on goods and services is a tax on:

A. wealth

B. income

C. property

D. consumption

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Correct Answer: Option D

Explanation:
GST is a tax on consumption of goods and services.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'GDP at constant prices' in India uses which base year?

A. 2015-16

B. 2019-20

C. 2004-05

D. 2011-12

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Correct Answer: Option D

Explanation:
India's GDP constant price series currently uses base year 2011-12.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Fifth Five Year Plan' period was:

A. 1974-1979

B. 1980-1985

C. 1969-1974

D. 1971-1976

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Correct Answer: Option A

Explanation:
The Fifth Five Year Plan covered 1974-1979.

This question belongs to: Economy GK Economy Set 1

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