Which of the following is a feature of the Indian labour market? MCQ with Answer and Explanation

Question
Which of the following is a feature of the Indian labour market?
A. Dominance of formal sector employment only
B. Large share of informal employment and dualism
C. Uniform wages across sectors
D. Complete absence of unemployment
Answer: Option B
Solution (By JKSSB Mock Tests)
The Indian labour market is characterised by a large informal sector, dualism between formal and informal employment, and significant underemployment.
This question belongs to: Economy GK Economy Set 1
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Practice More Economy Set 1 Questions

Question #1
The term 'Primary Market' in the capital market refers to:
A. Market for issue of new securities
B. Market for short-term funds only
C. Market for trading existing securities
D. Market for agricultural commodities
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Correct Answer: Option A

Explanation:
The primary market is the market where new securities are issued by companies or governments for the first time to raise capital. The secondary market deals with existing securities.
This question belongs to: Economy GK Economy Set 1
Question #2
The term 'Current Account Deficit' indicates:
A. Excess of capital inflows over outflows
B. Excess of imports of goods and services over exports
C. Surplus in the overall balance of payments
D. Excess of government expenditure over revenue
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Correct Answer: Option B

Explanation:
Current Account Deficit occurs when the value of imports of goods, services and transfers exceeds the value of exports of goods, services and transfers.
This question belongs to: Economy GK Economy Set 1
Question #3
The 'FDI' in single brand retail is allowed up to what percentage?
A. 100%
B. 51%
C. 74%
D. 49%
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Correct Answer: Option A

Explanation:
FDI in single brand retail is allowed up to 100%.
This question belongs to: Economy GK Economy Set 1
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