The 'Department for Promotion of Industry and Internal Trade' is under which ministry? MCQ with Answer and Explanation

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The 'Department for Promotion of Industry and Internal Trade' is under which ministry?

A. Ministry of Finance

B. Ministry of MSME

C. Ministry of Commerce and Industry

D. Ministry of Heavy Industries

Answer: Option C

Solution (By JKSSB Mock Tests)

DPIIT is under the Ministry of Commerce and Industry.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'World Intellectual Property Organization' is a specialized agency of:

A. WTO

B. World Bank

C. IMF

D. United Nations

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Correct Answer: Option D

Explanation:
WIPO is a specialized agency of the United Nations.

This question belongs to: Economy GK Economy Set 1

Question #2

Price discrimination is most commonly possible under which market structure?

A. Oligopoly

B. Perfect competition

C. Monopoly

D. Monopolistic competition

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Correct Answer: Option C

Explanation:
A monopolist can practise price discrimination because it has market power and can prevent resale.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' is collected by:

A. both central and state governments

B. only central government

C. local bodies

D. only state governments

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Correct Answer: Option A

Explanation:
GST is collected by both central and state governments depending on the component.

This question belongs to: Economy GK Economy Set 1

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