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

Question

Share Report Error

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

A. food processing

B. security, strategic and environmental concerns

C. textiles

D. consumer goods

Answer: Option B

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

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

Which of the following is a feature of a socialist economy?

A. Private ownership of means of production

B. Market determination of prices

C. Collective ownership of means of production

D. Profit maximisation as the sole motive

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
In a socialist economy, the means of production are owned collectively or by the state, and economic decisions are largely centralised.

This question belongs to: Economy GK Economy Set 1

Question #2

In the context of cost-benefit analysis, a project is considered viable if:

A. Only financial costs are considered without social costs

B. Present value of costs exceeds present value of benefits

C. Present value of benefits exceeds present value of costs

D. Only private benefits are considered

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
In cost-benefit analysis, a project is economically viable if the present value of its benefits exceeds the present value of its costs (Net Present Value > 0).

This question belongs to: Economy GK Economy Set 1

Question #3

Devaluation of a currency refers to:

A. a rise in domestic interest rates

B. buying of foreign currency by the central bank

C. market-determined fall in the value of a currency

D. official lowering of the value of a currency under a fixed exchange rate system

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
Devaluation is the official lowering of a currency's value under a fixed exchange rate system.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs