Operation Flood is associated with: MCQ with Answer and Explanation

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Operation Flood is associated with:

A. wheat production

B. fish farming

C. poultry development

D. milk production and dairy development

Answer: Option D

Solution (By JKSSB Mock Tests)

Operation Flood was a dairy development programme for increasing milk production.

This question belongs to: Economy GK Economy Set 1

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Question #1

The New Economic Policy of 1991 was based on the principles of:

A. import substitution and trade restrictions

B. nationalization and central planning

C. liberalization, privatization and globalization

D. land reforms and cooperatives

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Correct Answer: Option C

Explanation:
The 1991 New Economic Policy was based on liberalization, privatization and globalization.

This question belongs to: Economy GK Economy Set 1

Question #2

A negative externality occurs when:

A. private benefit equals social benefit

B. social benefit exceeds private benefit

C. social cost exceeds private cost

D. private cost exceeds social cost

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Correct Answer: Option C

Explanation:
A negative externality arises when social cost exceeds private cost, e.g. pollution.

This question belongs to: Economy GK Economy Set 1

Question #3

The concept of 'Opportunity Cost of Holding Money' is related to:

A. The cost of printing money

B. The interest forgone by holding cash instead of interest-bearing assets

C. The cost of producing goods

D. The cost of banking services only

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Correct Answer: Option B

Explanation:
The opportunity cost of holding money is the interest income that could have been earned by holding interest-bearing assets instead of cash.

This question belongs to: Economy GK Economy Set 1

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