In the context of banking regulation, Basel norms primarily deal with: MCQ with Answer and Explanation

In the context of banking regulation, Basel norms primarily deal with:
A. Capital adequacy, risk management and supervision of banks
B. Fiscal deficit targets
C. Exchange rate management
D. Interest rate determination
Answer: Option A
Solution (By JKSSB Mock Tests)
Basel norms (Basel I, II, III) are international banking regulations that set standards for capital adequacy, stress testing and market liquidity risk.

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Practice More Economy Set 1 Questions

Question #1
The 'Goods and Services Tax' Council was constituted in which year?
A. 2016
B. 2014
C. 2018
D. 2017

Correct Answer: Option A


Explanation:
The GST Council was constituted in 2016.

This question belongs to: Economy GK Economy Set 1
Question #2
The 'Consumer Price Index' measures:
A. retail prices paid by consumers
B. prices of exports
C. prices of imports
D. wholesale prices

Correct Answer: Option A


Explanation:
CPI measures changes in retail prices paid by consumers.

This question belongs to: Economy GK Economy Set 1
Question #3
Which of the following is a feature of a capitalist economy?
A. Collective ownership of resources
B. Private ownership of means of production and profit motive
C. Central planning of all economic activities
D. Absence of market mechanism

Correct Answer: Option B


Explanation:
A capitalist (market) economy is characterised by private ownership of the means of production, profit motive, and resource allocation through the market mechanism.

This question belongs to: Economy GK Economy Set 1