Economics (Part – VIII)

31. In which of the following places is a steel plant under SAIL located? [S.S.C. Online CGL (T-I) 13.08.2021 (Shift-III)]

(a) Bilaspur
(b) Korba
(c) Bhilai
(d) Raigarh

Correct Answer: (c) Bhilai

Solution:The steel plant under SAIL is located in Bhilai, Chhattisgarh. This steel plant was established in collaboration with the erstwhile Soviet Union.

32. Which of the following is are required to get more income by the people? [S.S.C. Online MTS (T-I) 3.10.2017 (Shift-I) S.S.C. Online MTS (T-I)30.10.2017 (Shift-I)]

(a) Better price their produce
(b) Continuous job
(c) Better wages
(d) All options are correct

Correct Answer: (d) All options are correct

Solution:To get more income, a better value of production should be obtained. Along with this, a continuous job and better salary are also intended to get more income.

33. How many pollutants are included to measure Air Quality Index in India? [S.S.C. Online MTS (T-I) 20.10.2021 (Shift-I)]

(a) 4
(b) 12
(c) 6
(d) 8

Correct Answer: (d) 8

Solution:Eight pollutants namely particulate matter (PM) 10, PM2. 5, Ozone (O₃), Sulfur dioxide (SO₂), nitrogen dioxide (NO₂), carbon monoxide (CO), lead (Pb) and ammonia (NH₃) act as major parameters in deriving the AQI of an area.

34. Standard of living depends upon: [S.S.C. Online MTS (T-I) 12.10.2017 (Shift-III)]

I. Per capita income

II. Gross Domestic product III. Literacy rate IV. Availability of health facilities

(a) Only II
(b) Only II & IVII IV
(c) Only II and IIIII III
(d) All I, II, III & IVI, II, III IV

Correct Answer: (a) Only II

Solution:Improvement in the standard of living depends on per capita income. However, the standard of living can also be improved by the availability of health facilities.

35. Double coincidence of wants is an essential feature of________. [S.S.C. Online MTS (T-I) 12.10.2017 (Shift-III)]

(a) Credit system
(b) Money system
(c) Barter system
(d) Banking system

Correct Answer: (c) Barter system

Solution:Double coincidence of wants is an essential feature of the barter system which refers to a situation wherein what a person wishes to sell is exactly the same as what the other person wishes to buy. This is a concept in the barter system in which goods are exchanged directly without the use of money.

36. When people are engaged in production of goods and services they are said to be engaged in________. [S.S.C. Online MTS (T-I) 11.10.2017 (Shift-I)]

(a) Business
(b) Economic activities
(c) Work
(d) Manufacturing

Correct Answer: (b) Economic activities

Solution:When people are engaged in the production of goods and services, they are said to be engaged in economic activities. It should be noted that the service sector is an example of the tertiary sector.

37. For comparing the development of countries, what is considered to be one of the most important attributes? [S.S.C. Online MTS (T-I) 11.10.2017 (Shift-I)]

(a) Happiness
(b) Income
(c) Equality of rights
(d) Size of country

Correct Answer: (b) Income

Solution:For comparing the development of countries, Income is considered to be one of the most important attributes. Under this, importance is given to per capita income or national income. Developed countries have higher income per capita compared to developing countries. Happiness is given importance in the calculation of development in Bhutan.

38. __________refers to the ability of a nation to improve the standard of living of its citizens. [S.S.C. Online MTS (T-I) 4.10.2017 (Shift-II)]

(a) International development
(b) National development
(c) Domestic development
(d) Rural development

Correct Answer: (b) National development

Solution:National development refers to the ability of a nation to improve the standard of living of its citizens.

39. Which among the following cannot be consid-ered as measure of improvement or national development? [S.S.C. Online MTS (T-I) 5.10.2017 (Shift-I)]

(a) Per capita income
(b) Gross domestic product
(c) Literacy rate
(d) Gender equality

Correct Answer: (d) Gender equality

Solution:

Gender Equality cannot be considered a measure of improvement or national development. It is a measure of social development.

40. Development promises a real growth by enhancing__________ of a person. [S.S.C. Online MTS (T-I) 4.10.2017 (Shift-I)]

(a) Total income
(b) Standard of living
(c) Total income and standard of living both
(d) Neither total income nor standard of living

Correct Answer: (c) Total income and standard of living both

Solution:Development promises real growth by enhancing total income and standard of living both of a person.