Which of the following is a characteristic of the 'Just Transition' framework in climate policy? MCQ with Answer and Explanation

Which of the following is a characteristic of the 'Just Transition' framework in climate policy?
A. Ignoring the social consequences of climate policies
B. Only focusing on technological solutions without social considerations
C. Only maximising the speed of decarbonisation regardless of social costs
D. Ensuring that the shift to a low-carbon economy is fair and inclusive, protecting workers and communities dependent on carbon-intensive industries
Answer: Option D
Solution (By JKSSB Mock Tests)
A just transition seeks to ensure that the benefits and costs of the transition to a low-carbon economy are shared equitably and that workers and communities affected by the decline of carbon-intensive sectors receive adequate support.

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Practice More Economy Set 1 Questions

Question #1
Which of the following is a characteristic of the 'Vertical Equity' principle in taxation?
A. All taxpayers should pay the same absolute amount
B. Only equal absolute burdens are fair
C. Taxes should be independent of income
D. Taxpayers with greater ability to pay should bear a larger tax burden

Correct Answer: Option D


Explanation:
Vertical equity requires that taxpayers with greater ability to pay contribute more in taxes, which is the ethical foundation for progressive taxation.

This question belongs to: Economy GK Economy Set 1
Question #2
The 'TReDS' platform is meant for:
A. commodity futures
B. trading government securities
C. foreign exchange trading
D. financing of receivables of MSMEs

Correct Answer: Option D


Explanation:
TReDS is an electronic platform for financing trade receivables of MSMEs from corporate buyers.

This question belongs to: Economy GK Economy Set 1
Question #3
The 'Credit Guarantee Fund Trust for Micro and Small Enterprises' provides guarantee cover to banks for loans to MSMEs.
A. Only for foreign companies
B. Only for large enterprises
C. True
D. False

Correct Answer: Option C


Explanation:
CGTMSE provides credit guarantee to banks for loans to micro and small enterprises.

This question belongs to: Economy GK Economy Set 1