The 'ASEAN' grouping has how many member countries? MCQ with Answer and Explanation

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The 'ASEAN' grouping has how many member countries?

A. 14

B. 10

C. 12

D. 8

Answer: Option B

Solution (By JKSSB Mock Tests)

ASEAN has 10 member countries.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Samagra Shiksha Abhiyan' integrates which three schemes?

A. Teacher Education, PMKVY, UJALA

B. SSA, RMSA, Teacher Education

C. RMSA, ICDS, NSAP

D. SSA, MGNREGA, PMAY

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Correct Answer: Option B

Explanation:
Samagra Shiksha Abhiyan integrates Sarva Shiksha Abhiyan, Rashtriya Madhyamik Shiksha Abhiyan and Teacher Education.

This question belongs to: Economy GK Economy Set 1

Question #2

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The concept of 'Break-even Analysis' is used to determine:

A. The level of output at which marginal cost is minimum

B. The level of output at which average cost is maximum

C. The level of output at which profit is maximised

D. The level of output at which total revenue equals total cost

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Correct Answer: Option D

Explanation:
Break-even analysis identifies the output level at which total revenue equals total cost, so that the firm makes neither profit nor loss.

This question belongs to: Economy GK Economy Set 1

Question #3

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The concept of 'Time Preference' is related to the theory of:

A. Profit

B. Interest

C. Rent

D. Wages

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Correct Answer: Option B

Explanation:
The time preference theory of interest (associated with Böhm-Bawerk and others) explains interest as arising from the preference for present goods over future goods.

This question belongs to: Economy GK Economy Set 1

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