The 'Agriculture Marketing' in India is primarily regulated by: MCQ with Answer and Explanation

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The 'Agriculture Marketing' in India is primarily regulated by:

A. SEBI

B. State Agricultural Produce Marketing Committee Acts

C. NABARD

D. RBI

Answer: Option B

Solution (By JKSSB Mock Tests)

Agricultural marketing is regulated by State APMC Acts.

This question belongs to: Economy GK Economy Set 1

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Question #1

In the context of international trade, 'Most Favoured Nation' (MFN) treatment means:

A. Ban on imports from certain countries

B. Equal trade treatment to all member countries

C. Preferential treatment to one country only

D. Higher tariffs for all countries

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Correct Answer: Option B

Explanation:
MFN principle under WTO requires that any advantage granted to one member country must be extended to all other members, ensuring non-discrimination.

This question belongs to: Economy GK Economy Set 1

Question #2

The Food Corporation of India is responsible for:

A. controlling inflation

B. providing crop loans

C. regulating stock exchanges

D. procurement, storage and distribution of food grains

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Correct Answer: Option D

Explanation:
FCI handles procurement, storage and distribution of food grains for the public distribution system.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'GST' is a value-added tax because:

A. it is levied on turnover

B. input tax credit is available

C. it is collected at source

D. it is a direct tax

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Correct Answer: Option B

Explanation:
GST is a value-added tax because input tax credit avoids cascading.

This question belongs to: Economy GK Economy Set 1

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