Economics Jkssb Economics Set 1 Mcqs (296 MCQs) | JKSSB & SSC Quiz

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jkssb economics set 1 mcqs

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Practice Questions

296 Total
Question 241 Discuss
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In January 2023, the Warehouse Development Regulation Authority (WDRA) signed a memorandum of understanding with   of India to help farmers get low interest rate loans.

A
Canara Bank
B
Union Bank of India
C
Bank of Baroda
D
State Bank of India

Answer & Explanation

Correct Option: D

WDRA partnered with the State Bank of India to promote loans against electronic Negotiable Warehouse Receipts (e-NWRs), facilitating better post-harvest credit access for farmers.
Question 242 Discuss
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What is the main objective of zero-based budgeting?

A
Establishing a relationship between inputs and outputs
B
Re-evaluation of all the activities every year when budget provisions are made
C
Examining the objectives for which funds are provided
D
To assess the effectiveness of each programme and activity with the output

Answer & Explanation

Correct Option: B

Zero-based budgeting requires that all expenses must be justified for each new period, starting from a "zero base," rather than simply adjusting the previous year's budget.
Question 243 Discuss
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The concept of the Self-Help Group Bank Linkage Program was introduced by:

A
RBI
B
SIDBI
C
NABARD
D
SBI

Answer & Explanation

Correct Option: C

NABARD initiated the SHG-Bank Linkage Project in 1992, which has since grown into the largest microfinance program in the world.
Question 244 Discuss
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Which of the following microfinance units were established in India at the time of independence?

A
Joint Liability Groups
B
Rural Cooperatives
C
Grameen Model Banks
D
Self Help Groups

Answer & Explanation

Correct Option: B

At the time of India's independence, Primary Agricultural Credit Societies and rural cooperatives were the primary institutional mechanisms designed to provide rural credit and counter moneylenders.
Question 245 Discuss
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Which of the following is NOT a commercial bank?

A
National Bank for Agriculture and Rural Development
B
State Bank of India
C
The Industrial Credit and Investment Corporation of India Bank
D
Development Bank of Singapore

Answer & Explanation

Correct Option: A

NABARD is an apex regulatory agency and a development bank dedicated to rural and agricultural financing, not a traditional commercial bank dealing directly with retail customers.
Question 246 Discuss
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Which of the following is NOT a component of revenue receipt?

A
Grant received by UNESCO
B
Amount borrowed from World Bank
C
GST
D
Fees paid for the registration of property

Answer & Explanation

Correct Option: B

Borrowings from international organizations like the World Bank create a liability for the government and are therefore classified as capital receipts, not revenue receipts.
Question 247 Discuss
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Which of the following is the quality of the public goods?

A
Non-rivalrous
B
Non-divisible
C
Excludable
D
Rivalrous

Answer & Explanation

Correct Option: A

Public goods are non-rivalrous, meaning that one individual's consumption of the good does not reduce the amount available for consumption by others.
Question 248 Discuss
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A television set purchased by a household for personal use is an example of which type of good?

A
consumer goods
B
capital goods
C
intermediate goods
D
inferior goods

Answer & Explanation

Correct Option: A

Goods purchased by end-users for personal consumption, rather than for the production of other goods, are classified as consumer goods.
Question 249 Discuss
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Which of the following is/are an example of a non-tax revenue receipt?

A
External commercial borrowings
B
Interest income
C
Income tax
D
Disinvestment

Answer & Explanation

Correct Option: B

Non-tax revenue includes government income not generated from taxes, such as interest received on loans given to states, dividends from public sector enterprises, and fees.
Question 250 Discuss
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How many other members are there in the Finance Commission EXCEPT, Chairman?

A
6
B
3
C
4
D
5

Answer & Explanation

Correct Option: C

According to Article 280 of the Indian Constitution, the Finance Commission consists of a Chairman and four other members appointed by the President.
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