In the context of Indian economy, which of the following is a major source of agricultural credit? MCQ with Answer and Explanation

Question
In the context of Indian economy, which of the following is a major source of agricultural credit?
A. Stock markets
B. Commercial banks and cooperative banks
C. Mutual funds
D. Foreign institutional investors
Answer: Option B
Solution (By JKSSB Mock Tests)
Agricultural credit in India is primarily provided by commercial banks, regional rural banks and cooperative banks, along with NABARD refinancing.
This question belongs to: Economy GK Economy Set 1
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Question #1
The concept of 'Natural Capital' in environmental economics refers to:
A. Only financial capital
B. Only human skills
C. Only physical capital produced by humans
D. The stock of natural resources and ecosystems that provide goods and services to the economy
Discuss
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Correct Answer: Option D

Explanation:
Natural capital comprises the world’s stocks of natural assets—geology, soil, air, water and all living things—from which humans derive a wide range of ecosystem services.
This question belongs to: Economy GK Economy Set 1
Question #2
The 'Goods and Services Tax' rate on mobile phones is:
A. 5%
B. 28%
C. 12%
D. 18%
Discuss
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Correct Answer: Option D

Explanation:
Mobile phones attract 18% GST.
This question belongs to: Economy GK Economy Set 1
Question #3
The concept of 'Consumer Sovereignty' implies that:
A. Producers decide what to produce
B. Only exporters decide production
C. Consumers ultimately determine what is produced through their demand
D. Government decides all production
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Correct Answer: Option C

Explanation:
Consumer sovereignty means that in a market economy, consumers, through their spending decisions, ultimately determine what goods and services are produced.
This question belongs to: Economy GK Economy Set 1
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