The 'Second Five Year Plan' period was: MCQ with Answer and Explanation

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The 'Second Five Year Plan' period was:

A. 1961-1966

B. 1953-1958

C. 1956-1961

D. 1951-1956

Answer: Option C

Solution (By JKSSB Mock Tests)

The Second Five Year Plan covered 1956-1961.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Silver Revolution' in India is associated with:

A. wool

B. egg and poultry

C. milk

D. fish

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Correct Answer: Option B

Explanation:
The Silver Revolution is associated with egg and poultry production.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'rent-seeking' behaviour in economics refers to:

A. buying real estate

B. paying rent

C. earning profit through productive activity

D. manipulating political or economic environment to obtain benefits without creating wealth

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Correct Answer: Option D

Explanation:
Rent-seeking is the pursuit of benefits through manipulation rather than productive activity.

This question belongs to: Economy GK Economy Set 1

Question #3

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In the context of digital regulation, the 'DMA' (Digital Markets Act) of the European Union aims to:

A. Impose ex-ante obligations on designated gatekeeper platforms to ensure contestable and fair digital markets

B. Only regulate small start-ups

C. Deregulate all digital platforms

D. Only apply ex-post competition law without any specific rules

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Correct Answer: Option A

Explanation:
The Digital Markets Act establishes a set of dos and don’ts for large gatekeeper platforms, aiming to prevent unfair practices and to keep digital markets contestable and fair through ex-ante regulation.

This question belongs to: Economy GK Economy Set 1

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