Which of the following is a characteristic of the 'Circular Economy' concept? MCQ with Answer and Explanation

Which of the following is a characteristic of the 'Circular Economy' concept?
A. An economic system aimed at eliminating waste and the continual use of resources through reuse, repair, remanufacturing and recycling
B. Only the maximisation of consumption without regard to waste
C. A linear take-make-dispose model
D. Only the maximisation of resource extraction
Answer: Option A
Solution (By JKSSB Mock Tests)
The circular economy seeks to keep products, materials and resources in use for as long as possible, extracting maximum value and then recovering and regenerating them at the end of their service life.

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Practice More Economy Set 1 Questions

Question #1
The term 'Fiscal Consolidation' refers to:
A. Only printing more money
B. Only increasing tax rates
C. Policies aimed at reducing fiscal deficit and public debt
D. Increase in government expenditure without regard to revenue

Correct Answer: Option C


Explanation:
Fiscal consolidation refers to policies and measures undertaken to reduce the fiscal deficit and put public finances on a sustainable path.

This question belongs to: Economy GK Economy Set 1
Question #2
The 'International Finance Corporation' mainly provides:
A. grants to governments
B. loans and investments in the private sector of developing countries
C. military assistance
D. short-term balance of payments support

Correct Answer: Option B


Explanation:
IFC supports private sector investment in developing countries.

This question belongs to: Economy GK Economy Set 1
Question #3
The 'Goods and Services Tax' on audit services is:
A. 18%
B. 28%
C. 12%
D. 5%

Correct Answer: Option A


Explanation:
Audit services attract 18% GST.

This question belongs to: Economy GK Economy Set 1