The concept of 'Interoperability' in digital markets refers to: MCQ with Answer and Explanation

The concept of 'Interoperability' in digital markets refers to:
A. Only the proprietary control of all interfaces
B. The ability of different systems, platforms or services to work together and exchange information
C. Only the absence of any data sharing
D. The complete isolation of platforms
Answer: Option B
Solution (By JKSSB Mock Tests)
Interoperability is the capacity of different digital systems or platforms to communicate, exchange data and use the exchanged information, which can reduce switching costs and increase contestability.

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Practice More Economy Set 1 Questions

Question #1
The 'Goods and Services Tax' on port services is:
A. 5%
B. 18%
C. 28%
D. 12%

Correct Answer: Option B


Explanation:
Port services attract 18% GST.

This question belongs to: Economy GK Economy Set 1
Question #2
The 'Estimates Committee' in Parliament examines:
A. judicial appointments
B. budget estimates and efficiency of expenditure
C. CAG reports
D. foreign policy

Correct Answer: Option B


Explanation:
Estimates Committee examines budget estimates and efficiency of expenditure.

This question belongs to: Economy GK Economy Set 1
Question #3
The 'Goods and Services Tax Compensation Cess' is levied to compensate states for:
A. loss of import revenue
B. loss due to natural calamities
C. loss of revenue due to GST implementation for a transition period
D. loss due to bank failures

Correct Answer: Option C


Explanation:
GST Compensation Cess compensates states for revenue loss due to GST implementation for five years.

This question belongs to: Economy GK Economy Set 1