The 'National Manufacturing Policy' aims to create National Investment and Manufacturing Zones that are basically: MCQ with Answer and Explanation

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The 'National Manufacturing Policy' aims to create National Investment and Manufacturing Zones that are basically:

A. residential colonies

B. industrial parks with world-class infrastructure

C. special economic zones only

D. agricultural zones

Answer: Option B

Solution (By JKSSB Mock Tests)

NIMZs are integrated industrial parks with advanced infrastructure.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Basel Committee on Banking Supervision' is headquartered at:

A. Washington D.C.

B. London

C. Geneva

D. Basel, Switzerland

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Correct Answer: Option D

Explanation:
The Basel Committee is headquartered at the Bank for International Settlements in Basel, Switzerland.

This question belongs to: Economy GK Economy Set 1

Question #2

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In the context of industrial organisation, the 'Structure-Conduct-Performance' paradigm suggests that:

A. Only performance matters

B. Conduct is independent of structure

C. Market structure determines firm conduct which in turn determines performance

D. Performance determines structure

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Correct Answer: Option C

Explanation:
The traditional SCP paradigm posits a causal chain from market structure (concentration, entry barriers) to firm conduct (pricing, advertising) to market performance (profits, efficiency).

This question belongs to: Economy GK Economy Set 1

Question #3

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In the context of measuring economic progress, the 'Genuine Progress Indicator' attempts to:

A. Adjust GDP by subtracting environmental and social costs and adding non-market benefits

B. Measure only market production

C. Ignore all non-market activities

D. Replace GDP with only environmental indicators

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Correct Answer: Option A

Explanation:
The Genuine Progress Indicator starts from personal consumption expenditure and then adjusts for factors such as income distribution, environmental degradation, and the value of unpaid work to provide a broader measure of welfare.

This question belongs to: Economy GK Economy Set 1

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