industries manufacturing & service sectors section 10 Practice Questions Answers Test with Solutions & More Shortcuts

Answer: (c)

Rent-seeking means engaging in or involving in the manipulation of public policy or economic conditions as a strategy for increasing profits.

For example, lobbying for government contracts by changing the terms and conditions of the bidding contract.

Answer: (c)

The LLP will be a separate legal entity, liable to the full extent of its assets, with the liability of the partners being limited to their agreed contribution in the LLP which may be of tangible or intangible nature or both tangible and intangible in nature. No partner would be liable on account of the independent or unauthorised actions of other partners or their misconduct.

The liabilities of the LLP and partners who are found to have acted with intent to defraud creditors or for any fraudulent purpose shall be unlimited for all or any of the debts or other liabilities of the LLP.

Answer: (d)

All the above industrial clusters and the related locations are correctly matched. Tirupur is famous for textiles, Kishangarh is famous for marbles, Surat is famous for Gems and Jewellery.

Answer: (a)

The erratic trend in production of sugar is mainly due to monsoons and the output of sugar is influenced by both cane and gur prizes.

Answer: (d)

Major problems faced by the small scale industries are:

1. Finance,
2. Raw Material,
3. Idle Capacity,
4. Technology,
5. Marketing,
6. Infrastructure,
7. Under Utilization of Capacity and
8. Project Planning.

Strike and lockouts is not a problem of SSIs.