The 'Goods and Services Tax Network' is a: MCQ with Answer and Explanation

The 'Goods and Services Tax Network' is a:
A. ministry under government
B. non-government IT company providing GST portal
C. tax collection department
D. regulatory authority
Answer: Option B
Solution (By JKSSB Mock Tests)
GSTN is a non-government, private limited company that provides the IT infrastructure for GST.

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Practice More Economy Set 1 Questions

Question #1
Which of the following is a feature of the 'Data Economy' or 'Attention Economy'?
A. Only physical goods generate value
B. Economic value is increasingly derived from the collection, analysis and monetisation of data and user attention
C. Only traditional manufacturing matters
D. Data has no economic value

Correct Answer: Option B


Explanation:
In the data and attention economy, the ability to collect, process and monetise large volumes of personal and behavioural data, as well as to capture user attention, has become a central source of economic value.

This question belongs to: Economy GK Economy Set 1
Question #2
In the context of global public goods, climate-change mitigation is considered a:
A. Global pure public good because its benefits are non-excludable and non-rivalrous across countries
B. Common-pool resource only
C. Pure private good
D. Club good limited to a few countries

Correct Answer: Option A


Explanation:
Climate-change mitigation is a global pure public good: the benefits of reduced greenhouse-gas concentrations are non-excludable and non-rivalrous at the worldwide level, creating strong free-rider incentives.

This question belongs to: Economy GK Economy Set 1
Question #3
Which of the following is NOT a type of bank in the Indian banking system?
A. Commercial banks
B. Regional Rural Banks
C. Cooperative banks
D. Shadow banks as scheduled commercial banks

Correct Answer: Option D


Explanation:
Shadow banks (NBFCs engaged in credit intermediation) are not scheduled commercial banks. The formal banking system includes commercial banks, cooperative banks and RRBs.

This question belongs to: Economy GK Economy Set 1