The 'Food Processing Industries' in India are classified as which sector? MCQ with Answer and Explanation

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The 'Food Processing Industries' in India are classified as which sector?

A. Quaternary

B. Primary

C. Secondary

D. Tertiary

Answer: Option C

Solution (By JKSSB Mock Tests)

Food processing is a secondary sector manufacturing activity.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Contingency Fund of India' is held by:

A. President

B. Finance Minister

C. RBI

D. Prime Minister

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Correct Answer: Option A

Explanation:
The Contingency Fund of India is placed at the disposal of the President.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Twelfth Five Year Plan' period was:

A. 2010-2015

B. 2007-2012

C. 2012-2017

D. 2017-2022

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Correct Answer: Option C

Explanation:
The Twelfth Five Year Plan covered 2012-2017.

This question belongs to: Economy GK Economy Set 1

Question #3

The concept of 'Pareto Efficiency' implies that:

A. Resources can be reallocated to make someone better off without making anyone worse off

B. Income is equally distributed

C. No reallocation can make one person better off without making someone else worse off

D. All markets are perfectly competitive

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Correct Answer: Option C

Explanation:
A Pareto efficient allocation is one where it is impossible to make any individual better off without making at least one individual worse off.

This question belongs to: Economy GK Economy Set 1

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