Economics (Part – XVI)

Total Questions: 50

31. The Jagananna Smart Township scheme was launched by which state government of India? [S.S.C. Online MTS (T-I) 06.07.2022 (Shift-I)]

Correct Answer: (d) Andhra Pradesh
Solution:The Jagananna Smart Township scheme was launched by the state government of Andhra Pradesh in India. The scheme aims to develop 30 smart townships across the state and provide affordable housing to the urban poor. The project is part of the state government's larger goal of creating a total of 15.60 lakh (1.56 million) houses for the poor by the year 2024.

32. Which scheme was launched in February 2022 to provide welfare and rehabilitation to the transgender community and the people engaged in the act of begging? [S.S.C. Online MTS (T-I) 07.07.2022 (Shift-III)]

Correct Answer: (a) SMILE Scheme
Solution:The Department of Social Justice and Empowerment was launched the scheme "SMILE: Support for Marginalized Individuals for Livelihood and Enterprise" on 12 February 2022.

There are 2 sub-schemes under this 'Central Sector Scheme for Comprehensive Rehabilitation for Welfare of Transgender Persons' and 'Central Sector Scheme for Comprehensive Rehabilitation of persons engaged in the act of Begging'.

33. Which of the following statement is correct? [S.S.C. Online CGL (T-I) 03.12.2022 (Shift-III)]

1. The Family Welfare Program has sought to promote responsible and planned parenthood on a mandatory basis.

2. The National Population Policy 2000 provides a policy framework for providing free and compulsory education up to the age of 14 years.

Correct Answer: (c) Only II
Solution:The National Family Welfare Programme was launched in India to reduce the birth rate to the extent necessary to stabilize the population at a level consistent with the requirements of the national economy. In the year 2000, the National Population Policy (NPP) provided the framework for a holistic planned effort. It provides a policy framework for imparting free and compulsory school education up to 14 years of age.

34. Which of the following is a feature of public goods? [S.S.C. Online CGL (T-I) 05.12.2022 (Shift-IV)]

Correct Answer: (c) Consumption of one person does not affect the consumption of another person.
Solution:Consumption of one person does not affect another person's consumption is a feature of public goods from the following options.

The two main criteria that distinguish a public good are that it must be non-rivalrous and non-excludable Non-rivalrous means that the goods do not dwindle in supply as more people consume them; non-excludability means that the good is available to all citizens.

35. In the context of Economics, what does P stand for in EPF? [S.S.C. Online MTS (T-I) 12.10.2021 (Shift-II)]

Correct Answer: (b) Provident
Solution:In terms of economics, EPF is Employers Providen Fund. In this "P" stands for Provident.

36. In 2019, the Export Credit Guarantee Corporation of India (ECGC) has introduced the Export Credit Insurance Scheme(ECIS) called _______. [S.S.C. Online CPO SIL. (T-I) 23.11.2020 (Shift-I)]

Correct Answer: (d) NIRVIK
Solution:In 2019, the Export Credit Guarantee Corporation of India (ECGC) introduced the Export Credit Insur. ance Scheme(ECIS) called NIRVIK. NIRVIK stands for Niryat Rin Vikas Yojana. NIRVIK scheme to pro-vide enhanced insurance cover and reduce the premi-um for small exporters.

37. ________ is a mandatory mark found on all processed fruit products sold in India - such as packaged fruit beverages, fruit-jams, crushes and squashes, pickles, dehydrated fruit products, and fruit extracts as per the Food Safety and Standards Act of 2006. [S.S.C. Online CPO S.L. (T-I) 23.11.2020 (Shift-I)]

Correct Answer: (c) FPO
Solution:The FPO mark is a certification mark mandatory on all processed fruit products sold in India, such as packaged fruit beverages, fruit jams, crushes and squashes, pickles, dehydrated fruit products, and fruit extracts, following the Food Safety and Standards Act of 2006.
  • BEE Star Label is a program run by the Indian government's Bureau of Energy Efficiency under the Ministry of Power that promotes energy efficiency.
  • The ISI mark has been a standards-compliance mark for industrial products in India since 1950. The mark certifies that a product conforms to an Indian standard (I.S.) developed by the Bureau of Indian Standards (BIS), the national standards body of India.
  • A hallmark is an official mark or series of marks struck on items made of metal, mostly to certify the content of noble metals such as platinum, gold, silver and, in some nations, palladium.

38. High growth rate with use of modern technology and self-reliance of the economy could be achieved only if: [S.S.C. Online CPO SI (T-I) 10.11.2022 (Shift-II)]

Correct Answer: (a) benefits of economic prosperity reach the poor people
Solution:High growth rate with use of modern technology and self reliance of the economy could be achieved only if benefits of economic properity reach the poor people. Economic growth that benefits only a small section of the society, such as the rich, is not sustainable in the long term. A sustainable economy is one that benefits everyone, including the poor. By ensuring that the benefits of economic growth reach the poor, they can improve their standard of living, which can lead to a more stable and productive society.

39. Which of the following does NOT figure among the main objectives of the Self Help Groups in India? [S.S.C. Online MTS (T-I) 13.10.2021 (Shift-I)]

Correct Answer: (a) To provide loans with collateral
Solution:Providing loans with collateral is not one of the main objectives of SHGs in India, while the remaining are the main objectives of other SHGs.

40. Which classical economist popularised the following phrase: "From each according to his ability, to each according to his needs"? [S.S.C. Online MTS (T-I) 20.10.2021 (Shift-II)]

Correct Answer: (b) Karl Marx
Solution:"From each according to his ability, to each according to his needs", is a slogan popularized by Karl Marx in his 1875 Critique of the Gotha Program. The principle refers to free access to and distribution of goods, capital and services.