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

The concept of 'Interoperability' in digital markets refers to:
A. The complete isolation of platforms
B. Only the proprietary control of all interfaces
C. The ability of different systems, platforms or services to work together and exchange information
D. Only the absence of any data sharing
Answer: Option C
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
Statutory Liquidity Ratio is the percentage of NDTL that banks must maintain in:
A. cash with RBI only
B. gold, cash and approved securities
C. loans to government
D. foreign exchange only

Correct Answer: Option B


Explanation:
SLR requires banks to maintain liquid assets such as cash, gold and approved securities.

This question belongs to: Economy GK Economy Set 1
Question #2
The 'European Central Bank' is headquartered in:
A. Frankfurt
B. Brussels
C. Berlin
D. Paris

Correct Answer: Option A


Explanation:
The European Central Bank is headquartered in Frankfurt, Germany.

This question belongs to: Economy GK Economy Set 1
Question #3
The 'Federal Reserve System' is the central bank of:
A. United States
B. United Kingdom
C. Japan
D. Germany

Correct Answer: Option A


Explanation:
The Federal Reserve System is the central bank of the United States.

This question belongs to: Economy GK Economy Set 1