Which of the following is a feature of 'Open-Source' models of innovation? MCQ with Answer and Explanation

Which of the following is a feature of 'Open-Source' models of innovation?
A. Only government-mandated standards
B. Only closed innovation within a single firm
C. Complete proprietary control of all code
D. Collaborative development in which the source code or design is made publicly available and can be modified and redistributed
Answer: Option D
Solution (By JKSSB Mock Tests)
Open-source models rely on the public availability of source code or designs, enabling collaborative improvement, redistribution and the emergence of communities of developers around shared resources.

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Practice More Economy Set 1 Questions

Question #1
Which of the following is a characteristic of the 'Solow Residual'?
A. It measures only the contribution of labour
B. It measures only the contribution of capital
C. It measures the contribution of total factor productivity growth to output growth
D. It is always equal to zero

Correct Answer: Option C


Explanation:
The Solow residual is the part of output growth that remains after accounting for the contributions of capital and labour inputs; it is commonly interpreted as a measure of total factor productivity growth.

This question belongs to: Economy GK Economy Set 1
Question #2
The term 'Demonetisation' refers to:
A. Withdrawal of a currency unit from legal tender status
B. Introduction of new currency notes
C. Printing of more currency notes
D. Devaluation of currency

Correct Answer: Option A


Explanation:
Demonetisation is the act of stripping a currency unit of its status as legal tender. In India, high denomination notes were demonetised in 2016.

This question belongs to: Economy GK Economy Set 1
Question #3
The 'Goods and Services Tax' on sale of land and completed buildings is:
A. 18%
B. 0%
C. exempt
D. 5%

Correct Answer: Option C


Explanation:
Sale of land and completed buildings is not subject to GST.

This question belongs to: Economy GK Economy Set 1