Which of the following is a characteristic of a developing economy? MCQ with Answer and Explanation

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Which of the following is a characteristic of a developing economy?

A. High productivity in agriculture

B. High rate of capital accumulation

C. Dualistic economic structure

D. Low dependence on foreign trade

Answer: Option C

Solution (By JKSSB Mock Tests)

Developing economies often exhibit dualism — coexistence of a modern industrial sector and a traditional agricultural sector with low productivity.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Equalization Levy' in India is imposed on:

A. exports

B. digital transactions and online advertising services

C. all imports

D. agricultural income

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Correct Answer: Option B

Explanation:
Equalization Levy is imposed on specified digital transactions and online advertising services.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on intra-state supply comprises:

A. CGST only

B. IGST

C. SGST only

D. CGST and SGST/UTGST

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Correct Answer: Option D

Explanation:
Intra-state supplies attract both CGST and SGST/UTGST.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'National Digital Library of India' provides:

A. digital educational resources

B. banking services

C. land records

D. passport services

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Correct Answer: Option A

Explanation:
National Digital Library of India provides digital educational resources.

This question belongs to: Economy GK Economy Set 1

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