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Economics Miscellaneous (Part – I)

📆 October 23, 2024

Total Questions: 50

41. 'Eco mark' is given to the Indian products that are: [I.A.S. (Pre) 1998]

Correct Answer: (c) environment friendly
Solution:'Eco mark' is given to the Indian products that are fully environment friendly. The Government of India has instituted a scheme for labelling of environment friendly products to be known as 'Eco mark'. The scheme is being administered by the Bureau of Indian Standards (BIS). The 'Eco mark' scheme covers various product categories like soaps and detergents, paints, food items, electrical and electronic goods, plastic products, textiles etc. BIS is the National Standard Body of India under Department of Consumer Affairs, for the harmonious development of the activities of standardization, marking and quality certification of goods and for matters connected therewith or incidental thereto. An earthen pot has been chosen as the logo for the 'Eco mark' scheme.

42. Eco mark is given to a product which is [U.P.P.C.S. (Pre) 2022]

Correct Answer: (d) Environment friendly
Solution:'Eco mark' is given to the Indian products that are fully environment friendly. The Government of India has instituted a scheme for labelling of environment friendly products to be known as 'Eco mark'. The scheme is being administered by the Bureau of Indian Standards (BIS). The 'Eco mark' scheme covers various product categories like soaps and detergents, paints, food items, electrical and electronic goods, plastic products, textiles etc. BIS is the National Standard Body of India under Department of Consumer Affairs, for the harmonious development of the activities of standardization, marking and quality certification of goods and for matters connected therewith or incidental thereto. An earthen pot has been chosen as the logo for the 'Eco mark' scheme.

43. Considering the geographical-environmental conditions and the culture of Rajasthan, which sector should naturally be given top-policy priority for long term, sustainable, inclusive development? [R.A.S./R.T.S.(Pre) 2007]

Correct Answer: (a) Tourism
Solution:With reference to the geographical-environmental conditions and the culture of Rajasthan, Tourism sector should naturally be given top-policy priority for long term, sustainable inclusive development.

44. At present, what is the main source of wealth in Bihar? [B.P.S.C. (Pre) 2008]

Correct Answer: (b) Agriculture
Solution:Agriculture is the main source of wealth in Bihar.

45. The country in which a major controversy has erupted regarding outsourcing: [Uttarakhand P.C.S. (Mains) 2002]

Correct Answer: (d) U.S.A.
Solution:Outsourcing is the business practice of hiring a party out- side a company to perform services and create goods that traditionally were performed in house by the Company's own employee and staff. Outsourcing became big issue in 2004 in USA Presidential Election. The beginning of this system started in India in 2000.

46. Now, Packaging has assumed importance, because: [U.P.P.C.S. (Pre) 2009]

Correct Answer: (d) It provides all the above
Solution:Now, Packaging has assumed importance because it provides protection, safety, attractiveness and credibility to the products.

47. After the merger of Air India and Indian Airlines, the New entity is now known as: [U.P.P.C.S. (Mains) 2007]

Correct Answer: (c) Air India
Solution:After the merger of Air India and Indian Airlines, the new entity is known as Air India. The airline was founded by J.R.D. Tata as Tata Airlines in 1932. In October 2021, the Government of India finalised the sale of national carrier Air India to the Tata Group for their winning bid of Rs. 18,000 crore. The debt-laden airline's ownership now goes back to the salt-to-software conglomerate, which founded it nearly 90 years ago.

48. The 'Transaction Fee' which has been banned by a recent Supremeen Court order from being realised from customers relates to: [U.P. Lower Sub. (Pre) 2013]

Correct Answer: (b) Air journey
Solution:

Air journey transaction fee on passengers was banned by the Supreme Court in January, 2013.

49. Universal Service Obligation Fund is concerned with: [U.P.P.C.S. (Mains) 2003]

Correct Answer: (a) adjustment of liabilities of telecom companies
Solution:Universal Service Obligation Fund is associated with adjusting liabilities of telecom companies. The Universal Service Obligation Fund came into effect from 1.04.2002. It is established to provide subsidies to ensure telegraph ser- vices are provided to everyone across India, especially in the rural and remote areas. It is a non-lapsable fund. All cred- its to this funds require Parliamentary approval and it has a statutory support under Indian Telegraph (Amendment) Act, 2003.

50. Consider the following statements: [I.A.S. (Pre) 2022]

1. Vietnam has been one of the fastest growing economies in the world in the recent years.

2. Vietnam is led by a multi-party political system.

3. Vietnam's economic growth is linked to its integration with global supply chains and focus on exports.

4. For a long time Vietnam's low labour costs and stable exchange rates have attracted global manufacturers.

5. Vietnam has the most productive e-service sector in the Indo-Pacific region.

Which of the statements given above are correct?

Correct Answer: (c) 1, 3 and 4
Solution:Politically, Vietnam is a one-party State ruled by the Communist Party. The People's Army of Vietnam has significant influence in the political system. According to Asian Development Bank Report, e-services including digital financial services are at a very nascent stage in Vietnam, Hence, statements 2 and 5 are incorrect while the other three given statements are correct. Even after COVID-19 shocks, Vietnam's economy has continued to grow at the highest rate in South- east Asia. Vietnam's economic growth is linked to its integration with global supply chains and focussed on exports and for a long time Vietnam's low labour costs and stable exchange rates have attracted global manufacturers.
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