The 'PM Formalization of Micro Food Processing Enterprises' scheme is associated with which sector? MCQ with Answer and Explanation

Question
The 'PM Formalization of Micro Food Processing Enterprises' scheme is associated with which sector?
A. IT services
B. Steel
C. Food processing
D. Textiles
Answer: Option C
Solution (By JKSSB Mock Tests)
PM FME scheme supports micro food processing enterprises.
This question belongs to: Economy GK Economy Set 1
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Practice More Economy Set 1 Questions

Question #1
The 'working-age population' in India is usually defined as persons aged:
A. 10-60
B. 18-70
C. 21-65
D. 15-59 or 15-64 depending on definition
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Correct Answer: Option D

Explanation:
Working-age population is generally 15-59 or 15-64 depending on the survey definition.
This question belongs to: Economy GK Economy Set 1
Question #2
In the context of digital platforms, 'Network Effects' imply that:
A. The value of the platform to each user rises with the number of other users
B. The value of the platform falls with more users
C. Network size is irrelevant
D. Only offline networks matter
Discuss
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Correct Answer: Option A

Explanation:
Network effects (or network externalities) exist when the utility a user derives from a platform increases with the number of other users on the same side or the opposite side of the market.
This question belongs to: Economy GK Economy Set 1
Question #3
The 'Goods and Services Tax' rate on restaurant services in AC restaurants was initially 18%, but later revised to:
A. 5% without ITC
B. 12%
C. 18%
D. 28%
Discuss
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Correct Answer: Option A

Explanation:
Restaurant services were rationalized to 5% without input tax credit.
This question belongs to: Economy GK Economy Set 1
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