The circular economy concept emphasizes: MCQ with Answer and Explanation

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The circular economy concept emphasizes:

A. unlimited resource extraction

B. reuse, recycling and regeneration of resources

C. increasing waste generation

D. linear production and disposal

Answer: Option B

Solution (By JKSSB Mock Tests)

A circular economy emphasizes reuse, recycling and regeneration to minimize waste.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' is applicable in:

A. only special economic zones

B. all states and union territories

C. only states

D. only union territories

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Correct Answer: Option B

Explanation:
GST applies throughout India including states and union territories.

This question belongs to: Economy GK Economy Set 1

Question #2

The term 'Demonetisation' refers to:

A. Printing of more currency notes

B. Withdrawal of a currency unit from legal tender status

C. Devaluation of currency

D. Introduction of new currency notes

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Correct Answer: Option B

Explanation:
Demonetisation is the act of stripping a currency unit of its status as legal tender. In India, high denomination notes were demonetised in 2016.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Startup India Seed Fund Scheme' provides:

A. pension to workers

B. loans to large companies

C. seed funding to startups

D. subsidies to farmers

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Correct Answer: Option C

Explanation:
Startup India Seed Fund Scheme provides seed funding to startups.

This question belongs to: Economy GK Economy Set 1

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