The 'Goods and Services Tax' rate on mobile phones is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' rate on mobile phones is:

A. 12%

B. 18%

C. 28%

D. 5%

Answer: Option B

Solution (By JKSSB Mock Tests)

Mobile phones attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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In the production possibility frontier, a point inside the curve indicates:

A. Unattainable combination

B. Technological progress

C. Efficient utilisation of resources

D. Underutilisation of resources

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Correct Answer: Option D

Explanation:
Any point inside the PPF represents underutilisation or inefficient use of resources. Points on the curve are efficient and points outside are unattainable with current resources.

This question belongs to: Economy GK Economy Set 1

Question #2

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Which of the following is a feature of the Indian public sector enterprises?

A. Complete absence of social objectives

B. Presence of both commercial and social objectives

C. No role in strategic sectors

D. Only profit maximisation without any public purpose

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Correct Answer: Option B

Explanation:
Public sector enterprises in India have historically pursued a combination of commercial viability and broader social and strategic objectives.

This question belongs to: Economy GK Economy Set 1