The apex institution for agricultural and rural credit in India is: MCQ with Answer and Explanation

The apex institution for agricultural and rural credit in India is:
A. EXIM Bank
B. NABARD
C. SIDBI
D. RBI
Answer: Option B
Solution (By JKSSB Mock Tests)
NABARD is the apex institution for agricultural and rural credit.

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Practice More Economy Set 1 Questions

Question #1
The 'GST Network' is a:
A. government department
B. private limited company
C. statutory body
D. public sector undertaking

Correct Answer: Option B


Explanation:
GSTN is a Section 8 private limited company.

This question belongs to: Economy GK Economy Set 1
Question #2
Which of the following is a feature of 'Multi-Sided Platforms'?
A. They never exhibit network effects
B. They are identical to traditional linear firms
C. They intermediate between two or more distinct groups of users and must solve the chicken-and-egg problem of attracting both sides
D. They serve only one group of users

Correct Answer: Option C


Explanation:
Multi-sided platforms bring together two or more distinct customer groups that need each other and whose interactions are mediated by the platform; pricing and design must balance the interests of all sides.

This question belongs to: Economy GK Economy Set 1
Question #3
Which of the following is NOT a type of market failure?
A. Externalities
B. Perfect competition
C. Asymmetric information
D. Public goods

Correct Answer: Option B


Explanation:
Market failure occurs when free markets fail to allocate resources efficiently. Causes include externalities, public goods, asymmetric information and monopoly power. Perfect competition is an ideal, not a failure.

This question belongs to: Economy GK Economy Set 1