In the context of labour markets, the 'Gig Economy' is characterised by: MCQ with Answer and Explanation

In the context of labour markets, the 'Gig Economy' is characterised by:
A. Only agricultural self-employment
B. Only public-sector jobs
C. Short-term, flexible jobs often mediated by digital platforms rather than traditional long-term employment contracts
D. Only permanent full-time employment
Answer: Option C
Solution (By JKSSB Mock Tests)
The gig economy refers to labour markets characterised by short-term contracts or freelance work, frequently organised through online platforms that match workers with individual tasks or projects.

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Practice More Economy Set 1 Questions

Question #1
The 'GST compensation cess' is levied on which goods?
A. agricultural produce only
B. luxury and sin goods
C. essential food items
D. all goods

Correct Answer: Option B


Explanation:
GST compensation cess is levied on luxury and sin goods.

This question belongs to: Economy GK Economy Set 1
Question #2
The concept of 'Capital Account Liberalisation' involves:
A. Only the liberalisation of trade in goods
B. The imposition of new capital controls
C. Only the liberalisation of the current account
D. The removal or relaxation of restrictions on cross-border capital flows

Correct Answer: Option D


Explanation:
Capital-account liberalisation refers to the reduction or elimination of legal barriers to the free movement of capital across national borders.

This question belongs to: Economy GK Economy Set 1
Question #3
The 'Doha Round' of WTO negotiations began in which year?
A. 2001
B. 2005
C. 2010
D. 1999

Correct Answer: Option A


Explanation:
The Doha Round was launched in 2001.

This question belongs to: Economy GK Economy Set 1