Human capital formation mainly involves: MCQ with Answer and Explanation

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Human capital formation mainly involves:

A. increase in natural resources

B. accumulation of physical capital

C. investment in education, health and skill development

D. increase in foreign exchange reserves

Answer: Option C

Solution (By JKSSB Mock Tests)

Human capital formation involves investment in education, health and skills.

This question belongs to: Economy GK Economy Set 1

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Question #1

The law of demand states that, other things being equal, as price of a good rises:

A. demand falls

B. demand rises

C. quantity demanded rises

D. quantity demanded falls

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Correct Answer: Option D

Explanation:
The law of demand states an inverse relationship between price and quantity demanded.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on IT-enabled services is:

A. 18%

B. 5%

C. 28%

D. 12%

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Correct Answer: Option A

Explanation:
IT-enabled services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Wildlife Protection Act' was enacted in which year?

A. 1972

B. 1986

C. 1980

D. 1968

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Correct Answer: Option A

Explanation:
The Wildlife Protection Act was enacted in 1972.

This question belongs to: Economy GK Economy Set 1

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