The 'Export Promotion Capital Goods' scheme allows import of capital goods at: MCQ with Answer and Explanation

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The 'Export Promotion Capital Goods' scheme allows import of capital goods at:

A. only after export

B. higher duty

C. zero duty subject to export obligation

D. prohibited duty

Answer: Option C

Solution (By JKSSB Mock Tests)

EPCG allows import of capital goods at zero or concessional duty subject to export obligations.

This question belongs to: Economy GK Economy Set 1

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Question #1

The term 'Most Favoured Nation' treatment under WTO implies:

A. Preferential treatment to one country at the expense of others

B. Higher tariffs for all members

C. Complete free trade without any rules

D. Non-discriminatory treatment among all member countries

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Correct Answer: Option D

Explanation:
The MFN principle requires that any trade advantage granted to one WTO member must be extended to all other members, ensuring non-discrimination.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Transparency International' publishes which index?

A. Corruption Perceptions Index

B. Ease of Doing Business Index

C. Human Development Index

D. Logistics Performance Index

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Correct Answer: Option A

Explanation:
Transparency International publishes Corruption Perceptions Index.

This question belongs to: Economy GK Economy Set 1

Question #3

The concept of 'Break-even Point' in economics refers to:

A. The level of output where total revenue equals total cost

B. The level of output where marginal cost is minimum

C. The level of output where profit is maximum

D. The level of output where average cost is maximum

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Correct Answer: Option A

Explanation:
The break-even point is the level of output at which total revenue equals total cost, so that economic profit is zero.

This question belongs to: Economy GK Economy Set 1

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