The 'Union Budget' is presented under which article of the Constitution? MCQ with Answer and Explanation

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The 'Union Budget' is presented under which article of the Constitution?

A. Article 112

B. Article 265

C. Article 110

D. Article 280

Answer: Option A

Solution (By JKSSB Mock Tests)

The Annual Financial Statement is presented under Article 112.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Agreement on Agriculture' under WTO came into force in which year?

A. 1995

B. 1998

C. 2000

D. 1994

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Correct Answer: Option A

Explanation:
The Agreement on Agriculture came into force in 1995.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Pink Revolution' in India is associated with:

A. shrimp production

B. wheat

C. milk

D. onion and pharmaceutical production

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Correct Answer: Option D

Explanation:
Pink Revolution is associated with onion and pharmaceutical production.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of demand theory, the law of demand states that, ceteris paribus:

A. Price and supply are inversely related

B. Price and quantity demanded are positively related

C. Income and quantity demanded are inversely related

D. Price and quantity demanded are inversely related

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Correct Answer: Option D

Explanation:
The law of demand states that, other things remaining constant, the quantity demanded of a commodity falls when its price rises and rises when its price falls, indicating an inverse relationship between price and quantity demanded.

This question belongs to: Economy GK Economy Set 1

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