Economy Set 1 MCQs

Economy GK

Economy Set 1 MCQs

Practice Economy GK MCQs on basic economic concepts including economy, economics, microeconomics, macroeconomics, goods and services, demand and supply, factors of production, opportunity cost, economic activities, sectors of economy and other fundamental concepts frequently asked in SSC, Railway, Banking, UPSC, JKSSB, JKPSC, Police, Defence and other competitive examinations.

2220
Total Questions

Practice Questions

Page 88 of 111
Question #1741
The 'Patent' in India is granted by which office?
A. Ministry of Finance
B. RBI
C. Controller General of Patents, Designs and Trade Marks
D. SEBI
Discuss
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Correct Answer: Option C

Explanation:
Patents are granted by the Office of Controller General of Patents, Designs and Trade Marks.
This question belongs to: Economy GK Economy Set 1
Question #1742
The 'Intellectual Property Rights' in India are administered by which department?
A. Department for Promotion of Industry and Internal Trade
B. Ministry of Law
C. RBI
D. Ministry of Finance
Discuss
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Correct Answer: Option A

Explanation:
IPR policy is administered by DPIIT.
This question belongs to: Economy GK Economy Set 1
Question #1743
The 'National Intellectual Property Rights Policy' was released in India in which year?
A. 2013
B. 2016
C. 2018
D. 2020
Discuss
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Correct Answer: Option B

Explanation:
The National IPR Policy was released in 2016.
This question belongs to: Economy GK Economy Set 1
Question #1744
The 'World Intellectual Property Organization' is based in:
A. New York
B. Paris
C. Geneva
D. Vienna
Discuss
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Correct Answer: Option C

Explanation:
WIPO is headquartered in Geneva.
This question belongs to: Economy GK Economy Set 1
Question #1745
The 'Minimum Wages Act' in India was enacted in which year?
A. 1948
B. 1947
C. 1950
D. 1956
Discuss
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Correct Answer: Option A

Explanation:
The Minimum Wages Act was enacted in 1948.
This question belongs to: Economy GK Economy Set 1
Question #1746
The 'Factories Act' in India was enacted in which year?
A. 1947
B. 1956
C. 1950
D. 1948
Discuss
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Correct Answer: Option D

Explanation:
The Factories Act was enacted in 1948.
This question belongs to: Economy GK Economy Set 1
Question #1747
The 'Employees' State Insurance Act' was enacted in which year?
A. 1950
B. 1952
C. 1948
D. 1947
Discuss
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Correct Answer: Option C

Explanation:
Employees' State Insurance Act was enacted in 1948.
This question belongs to: Economy GK Economy Set 1
Question #1748
The 'Employees' Provident Funds and Miscellaneous Provisions Act' was enacted in which year?
A. 1948
B. 1961
C. 1952
D. 1956
Discuss
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Correct Answer: Option C

Explanation:
EPF Act was enacted in 1952.
This question belongs to: Economy GK Economy Set 1
Question #1749
The 'Payment of Bonus Act' was enacted in India in which year?
A. 1972
B. 1965
C. 1976
D. 1956
Discuss
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Correct Answer: Option B

Explanation:
The Payment of Bonus Act was enacted in 1965.
This question belongs to: Economy GK Economy Set 1
Question #1750
The 'Maternity Benefit Act' was enacted in India in which year?
A. 1961
B. 1972
C. 1976
D. 1956
Discuss
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Correct Answer: Option A

Explanation:
The Maternity Benefit Act was enacted in 1961.
This question belongs to: Economy GK Economy Set 1
Question #1751
The 'Contract Labour (Regulation and Abolition) Act' was enacted in which year?
A. 1976
B. 1961
C. 1986
D. 1970
Discuss
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Correct Answer: Option D

Explanation:
The Contract Labour Act was enacted in 1970.
This question belongs to: Economy GK Economy Set 1
Question #1752
The 'Equal Remuneration Act' was enacted in India in which year?
A. 1986
B. 1980
C. 1970
D. 1976
Discuss
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Correct Answer: Option D

Explanation:
The Equal Remuneration Act was enacted in 1976.
This question belongs to: Economy GK Economy Set 1
Question #1753
The 'Child and Adolescent Labour (Prohibition and Regulation) Act' was amended in which year?
A. 2016
B. 2020
C. 2010
D. 2018
Discuss
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Correct Answer: Option A

Explanation:
The Child Labour Act was amended in 2016.
This question belongs to: Economy GK Economy Set 1
Question #1754
The 'occupational safety, health and working conditions code' was passed in which year?
A. 2019
B. 2020
C. 2021
D. 2022
Discuss
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Correct Answer: Option B

Explanation:
The OSH Code was passed in 2020.
This question belongs to: Economy GK Economy Set 1
Question #1755
The 'Code on Wages' was passed in which year?
A. 2019
B. 2020
C. 2021
D. 2017
Discuss
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Correct Answer: Option A

Explanation:
The Code on Wages was passed in 2019.
This question belongs to: Economy GK Economy Set 1
Question #1756
The 'industrial relations code' was passed in which year?
A. 2021
B. 2019
C. 2022
D. 2020
Discuss
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Correct Answer: Option D

Explanation:
The Industrial Relations Code was passed in 2020.
This question belongs to: Economy GK Economy Set 1
Question #1757
The 'Code on Social Security' was passed in which year?
A. 2022
B. 2019
C. 2021
D. 2020
Discuss
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Correct Answer: Option D

Explanation:
The Code on Social Security was passed in 2020.
This question belongs to: Economy GK Economy Set 1
Question #1758
The 'Universal Account Number' is related to which social security scheme?
A. Maternity benefit
B. EPF
C. Pension
D. Insurance
Discuss
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Correct Answer: Option B

Explanation:
UAN is the universal account number for EPF members.
This question belongs to: Economy GK Economy Set 1
Question #1759
The 'Atal Pension Yojana' provides a guaranteed pension ranging from:
A. Rs 5,000 to Rs 10,000
B. Rs 500 to Rs 1,000
C. Rs 1,000 to Rs 5,000
D. Rs 10,000 to Rs 20,000
Discuss
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Correct Answer: Option C

Explanation:
Atal Pension Yojana provides guaranteed pension from Rs 1,000 to Rs 5,000 per month.
This question belongs to: Economy GK Economy Set 1
Question #1760
The 'National Pension System' is open to citizens in the age group of:
A. 18-70 years
B. 18-50 years
C. 18-60 years
D. 21-65 years
Discuss
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Correct Answer: Option A

Explanation:
NPS is open to citizens aged 18 to 70.
This question belongs to: Economy GK Economy Set 1
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