The 'industrial licensing' after 1991 was retained for certain industries related to: MCQ with Answer and Explanation

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The 'industrial licensing' after 1991 was retained for certain industries related to:

A. food processing

B. consumer goods

C. security, strategic and environmental concerns

D. textiles

Answer: Option C

Solution (By JKSSB Mock Tests)

Licensing was retained for industries related to security, strategic and environmental concerns.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Skill India Mission' was launched in which year?

A. 2016

B. 2015

C. 2017

D. 2014

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Correct Answer: Option B

Explanation:
Skill India Mission was launched in 2015.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'ICRA' in India is a:

A. insurance company

B. bank

C. stock exchange

D. credit rating agency

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Correct Answer: Option D

Explanation:
ICRA is a credit rating agency.

This question belongs to: Economy GK Economy Set 1

Question #3

The concept of 'Consumer Sovereignty' implies that:

A. Consumers ultimately determine what is produced through their demand

B. Producers decide what to produce

C. Government decides all production

D. Only exporters decide production

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Correct Answer: Option A

Explanation:
Consumer sovereignty means that in a market economy, consumers, through their spending decisions, ultimately determine what goods and services are produced.

This question belongs to: Economy GK Economy Set 1

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