Selling costs are a distinguishing feature of which market structure? MCQ with Answer and Explanation

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Selling costs are a distinguishing feature of which market structure?

A. Monopolistic competition

B. Monopoly

C. Pure competition

D. Perfect competition

Answer: Option A

Solution (By JKSSB Mock Tests)

Firms in monopolistic competition incur selling costs to differentiate their products and attract customers.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Foreign Direct Investment' limit in defence sector was increased to what percentage through the automatic route?

A. 74%

B. 26%

C. 100%

D. 49%

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Correct Answer: Option A

Explanation:
FDI in defence under automatic route is allowed up to 74%, with higher under government route.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'International Criminal Court' is located in:

A. The Hague

B. New York

C. Vienna

D. Geneva

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Correct Answer: Option A

Explanation:
ICC is located in The Hague.

This question belongs to: Economy GK Economy Set 1

Question #3

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Which of the following is a characteristic of the informal sector in developing economies?

A. High capital intensity and formal contracts

B. High degree of regulation

C. Complete absence of employment

D. Easy entry, small scale and labour intensity

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Correct Answer: Option D

Explanation:
The informal sector is characterised by easy entry, small-scale operations, labour-intensive technology, lack of formal contracts and limited regulation.

This question belongs to: Economy GK Economy Set 1

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