Indian Economy MCQs

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The Karakoram Highway connects China-Pakistan. The Karakorum Highway connects China and Pakistan across the Karakoram mountain range, through the Khunjerab Pass, at an elevation of 4,693 metres (15,397 ft) above the sea level. The road is one of the scariest and hair raising jeep trip in the world.

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The natural gas delivered to the home is about 95 percent methane.The natural gas leaks are predominantly methane.

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This question talks about increasing marginal return at a decreasing rate, which is, in fact, a diminishing marginal return. In economics, the law of diminishing returns states: “If an increasing amount of one variable factor is applied to a fixed quantity of other factors per unit of time, the increase in total output will first increase but beyond some point, it will decrease. According to Richard A. Bilas’s law of diminishing returns “If the investment of one resource in other resources is held constant, total output will increase but beyond some point, the resulting output growth will become smaller and smaller.” So as the marginal return increases at a decreasing rate, the total return will eventually decrease.

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A socialist economy is a system of production where goods and services are directly controlled by the government. A capitalist economic system is one that is characterized by free markets and the absence of government intervention in the economy. A mixed economic system is a system that combines aspects of both capitalism and socialism.

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The Sangam Yojana, announced on 15 August 1996, is one of the various plans related to social welfare. Under it, those handicapped who are living in the rural areas are organized in a group named ‘Sangam’, and are given an assistance of Rs. 15,000 for performing their economic activities.

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A stock exchange or bourse is an exchange where stockbrokers and traders can buy and/or sell stocks (also called shares), bonds and other securities. Stock exchanges may also provide facilities for the issuance and redemption of securities and other financial instruments and for capital events, including payment of income and dividends.

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Priority Sector refers to those sectors of the economy which may not get timely and adequate credit in the absence of this special dispensation. The broad categories of priority sectors for all scheduled commercial banks are as under: Agriculture and Allied Activities (Direct and Indirect finance); Small Business / Service Enterprises; Micro Credit, etc.

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The Prime Minister is the ex-officio chairman of the NDC. The Secretary of the Planning Commission is also the Secretary of the NDC. Administrative assistance is also provided by the Planning Commission. The NDC is an advisory body to the Planning Commission.

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United States is largest Consumer of Oil in the world, followed by China, Japan and India.

Notes:
गोर बंजारा समाजाच्या सामाजिक, आर्थिक आणि शैक्षणिक विकासासाठी सरकारने “वसंतराव नाईक संशोधन व प्रशिक्षण केंद्र (वनार्ती)” ही स्वायत्त संस्था स्थापन करण्याचा निर्णय घेतला आहे. मुंबईतील हे केंद्र या समाजाच्या संशोधन व अभ्यासासाठी कार्य करेल तसेच विद्यार्थ्यांसाठी, युवकांसाठी आणि या समाजातील इतर उमेदवारांसाठी विविध उपक्रम राबवेल. त्यांच्या विकासाच्या गरजांकडे विशेष लक्ष देईल. याशिवाय काही विमुक्त जाती आणि भटक्या जमाती-ब, भटक्या जमाती- क आणि भटक्या जमाती- ड यांच्यासाठीही हे केंद्र उपयुक्त ठरेल.