The 'Gross Value Added' at basic prices for an enterprise equals: MCQ with Answer and Explanation

Question

Share Report Error

The 'Gross Value Added' at basic prices for an enterprise equals:

A. output plus taxes

B. sales plus profits

C. output plus subsidies

D. output minus intermediate consumption

Answer: Option D

Solution (By JKSSB Mock Tests)

GVA = output minus intermediate consumption.

This question belongs to: Economy GK Economy Set 1

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1

The 'Goods and Services Tax' on club membership fees is:

A. 18%

B. 12%

C. 5%

D. 0%

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option A

Explanation:
Club membership fees attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

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

A. Only profit maximisation without any public purpose

B. Presence of both commercial and social objectives

C. No role in strategic sectors

D. Complete absence of social objectives

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

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

Question #3

The 'Goods and Services Tax' on data processing services is:

A. 5%

B. 12%

C. 28%

D. 18%

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
Data processing services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs