The term inclusive growth refers to economic growth that: MCQ with Answer and Explanation

The term inclusive growth refers to economic growth that:
A. ignores employment
B. focuses only on manufacturing
C. benefits all sections of society and reduces inequality
D. benefits only the rich
Answer: Option C
Solution (By JKSSB Mock Tests)
Inclusive growth ensures that the benefits of growth are widely shared and inequality is reduced.

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Practice More Economy Set 1 Questions

Question #1
The 'liberalization' in 1991 reduced the number of industries reserved for the public sector to how many initially?
A. 8
B. 25
C. 6
D. 18

Correct Answer: Option A


Explanation:
The 1991 policy reduced the reserved industries for public sector to 8, later further reduced.

This question belongs to: Economy GK Economy Set 1
Question #2
In the theory of international trade, the Heckscher-Ohlin theorem states that a country will export goods that:
A. Have the highest absolute advantage
B. Use its abundant factors intensively
C. Use its scarce factors intensively
D. Require the most labour regardless of endowment

Correct Answer: Option B


Explanation:
According to the Heckscher-Ohlin theorem, a country exports goods that intensively use its relatively abundant factors of production and imports goods that intensively use its scarce factors.

This question belongs to: Economy GK Economy Set 1
Question #3
Which of the following is a feature of the monopolistic competition market structure?
A. Perfect knowledge and no advertising
B. Product differentiation and selling costs
C. Homogeneous product
D. Single seller

Correct Answer: Option B


Explanation:
Monopolistic competition is characterised by product differentiation, a large number of firms, free entry and exit, and significant selling costs.

This question belongs to: Economy GK Economy Set 1