TRIPS is an agreement of the WTO dealing with: MCQ with Answer and Explanation

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TRIPS is an agreement of the WTO dealing with:

A. anti-dumping measures

B. agricultural subsidies

C. intellectual property rights

D. trade in services

Answer: Option C

Solution (By JKSSB Mock Tests)

TRIPS deals with Trade-Related Aspects of Intellectual Property Rights.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'RBI's Annual Report' is published by:

A. National Statistical Office

B. Ministry of Finance

C. NITI Aayog

D. Reserve Bank of India

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Correct Answer: Option D

Explanation:
The RBI publishes its Annual Report.

This question belongs to: Economy GK Economy Set 1

Question #2

Deadweight loss in economics refers to:

A. loss suffered by a monopolist

B. loss of revenue to the government

C. loss of total welfare due to market inefficiency

D. depreciation of capital

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Correct Answer: Option C

Explanation:
Deadweight loss is the loss of economic welfare due to inefficiency such as taxes, price controls or monopoly.

This question belongs to: Economy GK Economy Set 1

Question #3

Human capital formation mainly involves:

A. increase in natural resources

B. increase in foreign exchange reserves

C. accumulation of physical capital

D. investment in education, health and skill development

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Correct Answer: Option D

Explanation:
Human capital formation involves investment in education, health and skills.

This question belongs to: Economy GK Economy Set 1

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