The 'Model APMC Act' was circulated by the central government in which year? MCQ with Answer and Explanation

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The 'Model APMC Act' was circulated by the central government in which year?

A. 2000

B. 2010

C. 2006

D. 2003

Answer: Option D

Solution (By JKSSB Mock Tests)

The Model APMC Act was circulated in 2003 to promote reforms in agricultural marketing.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

Fixed costs are costs that:

A. are zero in the long run

B. remain constant irrespective of output in the short run

C. vary directly with output

D. equal variable costs

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Correct Answer: Option B

Explanation:
Fixed costs do not change with the level of output in the short run.

This question belongs to: Economy GK Economy Set 1

Question #2

The term inclusive growth refers to economic growth that:

A. ignores employment

B. benefits all sections of society and reduces inequality

C. benefits only the rich

D. focuses only on manufacturing

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Correct Answer: Option B

Explanation:
Inclusive growth ensures that the benefits of growth are widely shared and inequality is reduced.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'liberalization' in 1991 reduced the number of industries reserved for the public sector to how many initially?

A. 18

B. 8

C. 25

D. 6

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Correct Answer: Option B

Explanation:
The 1991 policy reduced the reserved industries for public sector to 8, later further reduced.

This question belongs to: Economy GK Economy Set 1

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