industries manufacturing & service sectors section 1 MCQ Questions & Answers Detailed Explanation

Answer: (c)

Micro Enterprises investment includes companies with investment up to Rs 10 lakh.

Small Enterprises need an investment above 10 lakh and up to 2 crores.

Medium Enterprises are those enterprises that have an investment above 2 crores and up to 5 crores.

Answer: (a)

Croatia applied for EU membership in 2003 and was in negotiations from 2005 until 2011. On 9 December 2011 leaders from the EU and Croatia signed the accession treaty.

The country became the 28th EU member country on 1 July 2013.

Answer: (d)

The World Trade Organization (WTO) is an organization that supervises and liberalizes international trade.

It officially commenced on 1 January 1995 under the Marrakech Agreement, replacing the General Agreement on Tariffs and Trade (GATT) The headquarter of World Trade Organization (WTO) is located in Geneva.

Answer: (d)

Indian overseas fleet ranks the 17th in the world in terms of tonnage, with 659 ships totalling 77 lakh gross registered tonnage (GRT).

102 Indian shipping companies are in operation of which 65 are engaged only in coastal shipping.

The public sector Shipping Corporation of India (SCI) has a fleet of 112 vessels aggregating three million GRT.

Answer: (b)

The Bhilai Steel Plant, located in Bhilai, in the Indian state of Chhattisgarh, was set up with the help of the USSR in 1955. Bokaro Steel Plant is located in the Bokaro district of Jharkhand.

It is the fourth integrated public sector steel plant in India built with Soviet help in 1972.

Answer: (d)

The Act mainly covers the following aspects:

1. Prohibition of anti-competitive agreements;
2. Prohibition of abuse of dominance;
3. Regulation of combination (acquisitions, mergers and amalgamations of a certain size);
4. Establishment of Competition Commission of India (CCI); and
5. Functions and powers of CCI.