industries manufacturing & service sectors section 5 Practice Questions Answers Test with Solutions & More Shortcuts
Industries, Manufacturing & Service Sectors PRACTICE TEST [10 - EXERCISES]
industries manufacturing & service sectors section 1
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industries manufacturing & service sectors section 10
Question : 36
India’s first port-based Special Economic Zone named International Container Trans-shipment Terminal (ICTI) is being set-up at?
a) Goa
b) Kandla
c) Tuticorin
d) Kochi
Answer »Answer: (d)
The Kochi International Container Transhipment Terminal (ICTT), locally known as the Vallarpadam Terminal, is a container trans-shipment facility which is part of the Cochin Port in Kochi, India.
Question : 37
In an oligopolistic or monopolistically competitive market, firms do not raise their prices because even a small price increase will lose many customers. Which among the following is the most suitable terms used for this concept ?
a) Swing Demand
b) Imperfect
c) Supracompetitive pricing
d) Kinked Demand
Answer »Answer: (d)
Question : 38
According to the data studied by Planning commission in 2011–12, how much the population of India falls under the poverty line?
a) 31.2%
b) 14.2%
c) 34.2%
d) 21.9%
Answer »Answer: (d)
According to the data studied by Planning Commission in 2011–12, 21.9% of the population of India falls under the poverty line.
Question : 39
In light of the recent COVID-19 pandemic, which of the following acts were invoked in reference to ‘masks’ and ‘hand sanitisers’:
- Essential Commodities Act 1955
- Prevention of Black Marketing and Maintenance of Supplies of Essential Commodities Act, 1980
- Disaster Management Act 2005
a) (i) only
b) (ii) & (iii) only
c) (i) & (iii) only
d) All of the above
Answer »Answer: (d)
All three acts were invoked.
The Centre on 15th March 2020 brought masks and hand sanitisers under the Essential Commodities Act, 1955 to make sure that these products, key for preventing the spread of Covid-19 infection, are available to people at the right price and in the right quality.
Taking note of the fact that masks and hand sanitisers are not easily available and vendors are charging exorbitant prices for them, the government declared these items as essential commodities till June 30 2020 under the EC Act. Under this Act, the States and Union Territories can ask manufacturers to enhance their production capacity so that these products are widely available to consumers.
An offender under the EC Act 1955 may be punished with imprisonment of up to seven years or fine, or both, and under the Prevention of Black Marketing and Maintenance of Supplies of Essential Commodities Act, 1980, he can be detained for up to six months.
The central government on 14th March 2020 declared/notified COVID-19 as a national 'disaster' and announced to provide ex-gratia relief of Rs 4 lakh to the families who died of the virus. The move by the centre would allow the states to spend a larger chunk of funds from the State Disaster Response Fund (SDRF) to fight the pandemic.
Govt. of India, in the exercise of the powers conferred under Section 3 and 5 of the Essential Commodities Act, 1955 has delegated the powers in respect of some sections of EC Act 1955 to National Pharmaceutical Pricing Authority (NPPA) to exercise the functions of the Central Government.
Under section 10 of the Disaster Management Act, 2005, the Ministry of Health and Family Welfare, on 13th March 2020, directed National Pharmaceutical Pricing Authority (NPPA) (to implement plans to tackle disaster and accordingly) to ensure the availability and prices of the Surgical and protective masks, Hand sanitisers and Gloves. Accordingly, NPPA vide order dated 13th March 2020 has directed to all State /UT Governments, in the public interest, in order to deal with the situation arising out of COVID-19, to take necessary steps to ensure sufficient availability of Surgical and protective masks, Hand sanitisers and Gloves at prices not exceeding the MRP printed on the pack size.
For Essential Commodities Act 1955; AND Prevention of Black Marketing and Maintenance of Supplies of Essential Commodities Act, 1980, please refer to the following article
Question : 40
Which of the following agency/ministry regulates tariffs for aeronautical services at the airports?
a) Airport Authority of India (AAI)
b) Directorate General of Civil Aviation (DGCA)
c) Airport Economic Regulatory Authority (AERA)
d) Ministry of Civil Aviation
Answer »Answer: (c)
The Airports Economic Regulatory Authority (AERA) is a statutory body constituted under the Airports Economic Regulatory Authority of India Act, 2008 with its head office at Delhi.
The statutory functions of the AERA as enshrined in the Airports Economic Regulatory Authority of India Act, 2008 are as below:
- To determine the tariff for the aeronautical services taking into consideration of the various expenses
- To determine the amount of the Development Fees in respect of major airports.
- To determine the amount of Passenger Service Fee
- To monitor the set Performance Standards relating to quality, continuity and reliability of service
Airports Authority of India (AAI) was constituted by an Act of Parliament and came into being on 1st April 1995 and it is entrusted with the responsibility of creating, upgrading, maintaining and managing civil aviation infrastructure both on the ground and air space in the country.
The Directorate General of Civil Aviation (DGCA) is the regulatory body in the field of Civil Aviation, primarily dealing with safety issues. It is responsible for the regulation of air transport services to/from/within India and for enforcement of civil air regulations, air safety, and airworthiness standards.
The DGCA also coordinates all regulatory functions with the International Civil Aviation Organisation (ICAO).
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Industries, Manufacturing & Service Sectors Shortcuts »
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indian economy MCQ CATEGORIES
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» Introduction to Indian Economy
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» Planning, Economic Development & Five year Plans
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» National Income & Human Development Index
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» Agriculture Sector, Subsidy and Food Processing
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» Industries, Manufacturing & Service Sectors
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» Inclusive growth, Sustainable development and employment
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» Poverty & Unemployment
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» Introduction to Micro Economics
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» Introduction to Macro Economics
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» Macro fundamentals, GDP, Investment, Growth
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» Demand & Supply, Profit Loss, Inflation & Price Index
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» Fiscal Policy, Public Finance and Monetary Policy
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» Money Supply, Banking and Financial Institutions
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» Taxes Types, Methods & Budgeting Process
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» Banking, Security Market & Insurance
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