The 'National Cooperative Development Corporation' promotes: MCQ with Answer and Explanation

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The 'National Cooperative Development Corporation' promotes:

A. only banking

B. imports

C. stock trading

D. cooperative societies across sectors

Answer: Option D

Solution (By JKSSB Mock Tests)

NCDC promotes cooperative societies in various sectors.

This question belongs to: Economy GK Economy Set 1

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Question #1

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

A. 2003

B. 2010

C. 2006

D. 2000

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Correct Answer: Option A

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

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on IPL tickets is:

A. 0%

B. 28%

C. 18%

D. 5%

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Correct Answer: Option C

Explanation:
IPL tickets attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of demand theory, the law of demand may not hold for:

A. All inferior goods without exception

B. Giffen goods and Veblen goods

C. Necessary goods with elastic demand

D. Normal goods

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Correct Answer: Option B

Explanation:
Giffen goods (strong negative income effect) and Veblen goods (prestige value rising with price) are exceptions to the law of demand.

This question belongs to: Economy GK Economy Set 1

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