Consumer Rights What are consumer rights?a) Rules to protect producersb) Rights ensuring fair treatment for consumersc) Policies for seller profitsd) Guidelines for marketingAnswer: b) Rights ensuring fair treatment for consumers Why are rules and regulations important in the marketplace?a) To promote unfair practicesb) To ensure the exploitation of consumersc) To protect both buyers and […]
Globalisation and Indian Economy What does globalisation primarily refer to?a) International trade warsb) Integration of economies through trade and investmentsc) Political alliances between countriesd) Cultural exchange programsAnswer: b) Integration of economies through trade and investments Which type of corporation is central to the process of globalisation?a) Government-owned companiesb) Small local businessesc) Multinational corporations (MNCs)d) Non-profit
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Money and Credit What does the term “double coincidence of wants” refer to?a) The need for a common currencyb) Two parties needing each other’s goods at the same timec) The use of modern banking systemsd) The presence of collateral in credit arrangementsAnswer: b) Two parties needing each other’s goods at the same time How does
Sectors of the Indian Economy Which sector involves activities that directly use natural resources?a) Primaryb) Secondaryc) Tertiaryd) QuaternaryAnswer: a) Primary The cultivation of crops is an example of which sector?a) Industrialb) Primaryc) Serviced) QuaternaryAnswer: b) Primary The transformation of raw materials into finished products occurs in which sector?a) Primaryb) Tertiaryc) Secondaryd) ServiceAnswer: c) Secondary Which
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Development 1. Why do different persons have different notions of development? (a) Because people are identical(b) Because people are different(c) Because all have the same needs(d) Because life situations of persons are identicalAnswer: (b) 2. Which of the following is not a developmental goal? (a) Better wages(b) Social discrimination(c) Freedom and security(d) Respect for othersAnswer: