The 'Zero Defect Zero Effect' scheme is associated with: MCQ with Answer and Explanation

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The 'Zero Defect Zero Effect' scheme is associated with:

A. agriculture

B. health

C. manufacturing and quality standards in MSMEs

D. defence

Answer: Option C

Solution (By JKSSB Mock Tests)

Zero Defect Zero Effect promotes quality and environmental standards in MSMEs.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Goods and Services Tax' on food in restaurants is generally:

A. 28%

B. 5%

C. 12%

D. 18%

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Correct Answer: Option B

Explanation:
Restaurant services generally attract 5% GST without input tax credit, but some categories differ.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a feature of the production function in the long run?

A. Only labour is variable

B. At least one factor is fixed

C. Returns to scale are irrelevant

D. All factors are variable

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Correct Answer: Option D

Explanation:
In the long run, all factors of production are variable, and the firm can choose the optimal scale of production; returns to scale become relevant.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Chief Executive Officer' of NITI Aayog is appointed by:

A. Finance Minister

B. Prime Minister

C. President

D. Parliament

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Correct Answer: Option B

Explanation:
The CEO of NITI Aayog is appointed by the Prime Minister.

This question belongs to: Economy GK Economy Set 1

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