Which of the following is a feature of the 'Paris Agreement' on climate change?
A. Only a voluntary declaration without any reporting requirements
B. A treaty limited to developed countries only
C. A legally binding set of identical emission targets for all countries
D. A global framework under which countries submit nationally determined contributions to limit global warming
Answer: Option D
Solution (By JKSSB Mock Tests)
The Paris Agreement establishes a framework in which each party submits successive nationally determined contributions (NDCs) outlining its climate actions, with the collective aim of limiting global temperature rise.
Explanation:
Monopolistic competition is characterised by product differentiation, a large number of firms, free entry and exit, and some degree of price control by firms.
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