Which of the following is classified under the primary sector? MCQ with Answer and Explanation

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Which of the following is classified under the primary sector?

A. Banking

B. Mining

C. Transport

D. Automobile manufacturing

Answer: Option B

Solution (By JKSSB Mock Tests)

The primary sector includes agriculture, mining, fishing and forestry.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Special Drawing Right' value is calculated based on a basket of currencies that includes which five currencies?

A. US dollar, euro, franc, pound, yuan

B. US dollar, euro, rupee, pound, yen

C. US dollar, euro, yen, pound, yuan

D. US dollar, euro, yen, pound, rupee

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Correct Answer: Option C

Explanation:
The SDR basket comprises US dollar, euro, Chinese yuan, Japanese yen and British pound.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'consumer price index' for rural and urban areas separately is compiled by:

A. Ministry of Finance

B. RBI

C. National Statistical Office

D. Labour Bureau

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Correct Answer: Option C

Explanation:
CPI-Rural and CPI-Urban are compiled by the NSO.

This question belongs to: Economy GK Economy Set 1

Question #3

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Hyperinflation is characterized by:

A. extremely rapid and out-of-control rise in prices

B. stable prices

C. slow price rise

D. falling prices

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Correct Answer: Option A

Explanation:
Hyperinflation is extremely rapid and uncontrollable price inflation.

This question belongs to: Economy GK Economy Set 1

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