The 'Administrative Tribunals' are established under which article? MCQ with Answer and Explanation

The 'Administrative Tribunals' are established under which article?
A. Article 338
B. Article 324
C. Article 323A
D. Article 329
Answer: Option C
Solution (By JKSSB Mock Tests)
Administrative Tribunals are established under Article 323A.

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Practice More Economy Set 1 Questions

Question #1
The concept of 'Economic Value Added' (EVA) is defined as:
A. Only accounting profit
B. Net operating profit after tax minus the opportunity cost of capital employed
C. Only revenue minus explicit costs
D. Only cash flow

Correct Answer: Option B


Explanation:
Economic Value Added is a measure of residual income calculated as net operating profit after tax minus a charge for the opportunity cost of the capital employed in the business.

This question belongs to: Economy GK Economy Set 1
Question #2
Which of the following is a characteristic of a developed money market?
A. Presence of a wide range of instruments and high liquidity
B. High transaction costs and low participation
C. Only long-term government securities
D. Absence of short-term instruments

Correct Answer: Option A


Explanation:
A developed money market features a variety of short-term instruments, high liquidity, low transaction costs and active participation by financial institutions.

This question belongs to: Economy GK Economy Set 1
Question #3
The concept of 'Consumer Surplus' is the area:
A. Above the demand curve and below the price line
B. Below the demand curve and above the price line
C. Below the supply curve and above the price line
D. Above the supply curve and below the price line

Correct Answer: Option B


Explanation:
Consumer surplus is the difference between the maximum amount consumers are willing to pay and the amount they actually pay, represented by the area under the demand curve and above the market price.

This question belongs to: Economy GK Economy Set 1