Which of the following is a characteristic of the 'Universal Basic Services' proposal? MCQ with Answer and Explanation

Which of the following is a characteristic of the 'Universal Basic Services' proposal?
A. Only private provision of all services
B. Only cash transfers without any public services
C. Public provision of a range of essential services free at the point of use as a complement or alternative to basic income
D. Only targeted residual welfare
Answer: Option C
Solution (By JKSSB Mock Tests)
Universal basic services advocates the collective provision of a set of essential services—such as health, education, housing, transport and information—available to all citizens free or at low cost.

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Practice More Economy Set 1 Questions

Question #1
The 'Goods and Services Tax' rate on water supply is:
A. 18%
B. not under GST
C. 5%
D. 0%

Correct Answer: Option D


Explanation:
Water supply through public taps is exempt from GST.

This question belongs to: Economy GK Economy Set 1
Question #2
The 'currency note' in India bears the signature of:
A. Finance Minister
B. President
C. Prime Minister
D. RBI Governor

Correct Answer: Option D


Explanation:
Currency notes except one rupee bear the signature of the RBI Governor.

This question belongs to: Economy GK Economy Set 1
Question #3
The Coase theorem suggests that private bargaining can solve externality problems if:
A. transaction costs are high and property rights are unclear
B. the government imposes taxes
C. transaction costs are low and property rights are clearly defined
D. the market is monopolized

Correct Answer: Option C


Explanation:
The Coase theorem states that with low transaction costs and clearly defined property rights, private parties can resolve externalities.

This question belongs to: Economy GK Economy Set 1