The 'Intellectual Property Rights' in India are administered by which department? MCQ with Answer and Explanation

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The 'Intellectual Property Rights' in India are administered by which department?

A. Ministry of Finance

B. Department for Promotion of Industry and Internal Trade

C. RBI

D. Ministry of Law

Answer: Option B

Solution (By JKSSB Mock Tests)

IPR policy is administered by DPIIT.

This question belongs to: Economy GK Economy Set 1

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Question #1

In the context of economic theory, the 'Law of Demand' may not hold in the case of:

A. Normal goods

B. Necessary goods only

C. All inferior goods

D. Giffen goods and Veblen goods

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Correct Answer: Option D

Explanation:
The law of demand does not hold for Giffen goods (where income effect outweighs substitution effect) and Veblen goods (where higher price increases demand due to prestige value).

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Smart Cities Mission' was launched in which year?

A. 2016

B. 2014

C. 2017

D. 2015

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Correct Answer: Option D

Explanation:
The Smart Cities Mission was launched in 2015.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Money Bill' under Article 110 includes matters related to:

A. defence

B. taxation, borrowing, expenditure from Consolidated Fund

C. police

D. foreign affairs

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Correct Answer: Option B

Explanation:
Money Bill deals with taxes, borrowing, custody of Consolidated Fund, etc.

This question belongs to: Economy GK Economy Set 1

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