The 'Paramparagat Krishi Vikas Yojana' promotes: MCQ with Answer and Explanation

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The 'Paramparagat Krishi Vikas Yojana' promotes:

A. organic farming

B. chemical farming

C. GM crops

D. hydroponics only

Answer: Option A

Solution (By JKSSB Mock Tests)

PKVY promotes organic farming through cluster-based approach.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'National Mission on Food Processing' is implemented by the Ministry of:

A. Food Processing Industries

B. Agriculture

C. Consumer Affairs

D. Health

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Correct Answer: Option A

Explanation:
The National Mission on Food Processing is implemented by the Ministry of Food Processing Industries.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'supply-side economics' emphasizes which policies?

A. increasing aggregate demand

B. raising taxes

C. reducing tax rates and regulation to increase output

D. increasing money supply

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Correct Answer: Option C

Explanation:
Supply-side economics emphasizes lower taxes and reduced regulation to stimulate production.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a characteristic of a Giffen good?

A. Demand increases as price increases due to strong negative income effect

B. It is a luxury good

C. Demand decreases as price increases

D. Income elasticity is positive

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Correct Answer: Option A

Explanation:
A Giffen good is an inferior good for which the negative income effect outweighs the substitution effect, resulting in an upward-sloping demand curve.

This question belongs to: Economy GK Economy Set 1

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