The 'Blue Revolution' in India is associated with: MCQ with Answer and Explanation

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The 'Blue Revolution' in India is associated with:

A. fisheries and aquaculture development

B. poultry farming

C. milk production

D. oilseeds production

Answer: Option A

Solution (By JKSSB Mock Tests)

The Blue Revolution refers to the development of fisheries and aquaculture.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

Deadweight loss in economics refers to:

A. depreciation of capital

B. loss of revenue to the government

C. loss suffered by a monopolist

D. loss of total welfare due to market inefficiency

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Correct Answer: Option D

Explanation:
Deadweight loss is the loss of economic welfare due to inefficiency such as taxes, price controls or monopoly.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a feature of the short-run cost curves?

A. Average fixed cost declines continuously as output increases

B. There are no fixed costs

C. All costs are variable

D. Marginal cost is always constant

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Correct Answer: Option A

Explanation:
Average fixed cost falls continuously with an increase in output because total fixed cost is spread over a larger number of units; the AFC curve is a rectangular hyperbola.

This question belongs to: Economy GK Economy Set 1

Question #3

An indifference curve is convex to the origin because of:

A. increasing marginal rate of substitution

B. diminishing marginal rate of substitution

C. constant marginal utility

D. increasing returns to scale

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Correct Answer: Option B

Explanation:
Convexity of indifference curves is due to diminishing marginal rate of substitution.

This question belongs to: Economy GK Economy Set 1

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