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MCQ for economy-8

by Vajiram & Ravi

26-08-2023

02:04 PM

1.

Which of the following commodities is/are included under the Essential Commodities (EC) Act, 1955?

1. Oilseeds

2. Kerosene

3. Fertilizers

4. Pulses

Select the correct answer using the codes given below:

  • A

    1 and 4 only

  • B

    2, 3 and 4 only

  • C

    1, 2 and 3 only

  • D

    1, 2, 3 and 4

2.

Minimum Support Price is a form of market intervention by the Government of India. Which of the following is/are the criteria for calculations of the MSP?

1. Prices of various inputs and changes therein

2. Prices and demand and supply in the international market

3. Parity between the prices paid and the prices received by the farmers

4. Inter-crop price parity

Select the correct answer using the codes given below:

  • A

    1 and 4 only

  • B

    2, 3 and 4 only

  • C

    1, 2 and 3 only

  • D

    1, 2, 3 and 4

3.

Consider the following statements regarding Market Intervention Scheme (MIS):

1. It has been initiated to boost electronics manufacturing in the country.

2. It works similarly to the Minimum Support Price based procurement mechanism for food grains but is an ad-hoc mechanism.

Which of the above statements is/are correct?

  • A

    1 only

  • B

    2 only

  • C

    Both 1 and 2

  • D

    Neither 1 nor 2

4.

Consider the following statements regarding Agricultural and Processed Food Products Export Development Authority:

1. It functions under the Ministry of Agriculture.

2. It provides financial assistance to develop industries related to scheduled products for export.

Which of the following statements are not correct?

  • A

    1 only

  • B

    2 only

  • C

    Both 1 and 2

  • D

    Neither 1 nor 2

5.

Which of the following options best describe the term Farmer Producer Organization (FPO)?

  • A

    A legal entity formed by primary producers

  • B

    Constitutional entity formed by primary processors

  • C

    A legal entity formed by small industries

  • D

    None of the above

6.

With reference to BSE E-Agricultural Markets Ltd (BEAM), consider the following statements:

1. It is an electronic spot platform for agricultural commodities.

2. It will help farmers in one state to reach out to markets in other states and auction their produce.

3. Only registered traders are allowed in the auction.

Which of the above statements is/are correct?

  • A

    1 and 2 only

  • B

    2 and 3 only

  • C

    1 only

  • D

    1, 2 and 3

7.

Which of the following statements is/are correct regarding the Ashok Dalwai Committee?

1. It was constituted by the Parliament to prepare a blueprint for doubling farmers' income by 2022.

2. It recommended placing agricultural marketing in the Concurrent list.

Select the correct answer using the codes given below:

  • A

    1 only

  • B

    2 only

  • C

    Both 1 and 2

  • D

    Neither 1 nor 2

8.

Consider the following statements regarding the Negotiable Warehouse Receipts scheme:

1. It was launched to allow the transfer of ownership of a commodity stored in a warehouse without delivering the physical commodity.

2. These were made negotiable in 2010 under the Warehouse (Development and Regulation) Act, 2007.

3. It is regulated by the Warehousing Development and Regulatory Authority.

Which of the statements given above are correct?

  • A

    1 and 2 only

  • B

    2 and 3 only

  • C

    1 and 3 only

  • D

    1, 2 and 3

9.

Which of the statements given below is/are correct regarding the PM-AASHA scheme?

1. It is aimed at ensuring remunerative prices to the farmers for their produce.

2. The Price Deficiency Payment Scheme, a component of PM-AASHA, proposes to cover all oilseeds for which MSP is notified.

Select the correct answer using the codes given below:

  • A

    1 only

  • B

    2 only

  • C

    Both 1 and 2

  • D

    Neither 1 nor 2

10.

Which of the following statements regarding the Fair and Remunerative Price (FRP) is/are correct?

1. It replaced the Statutory Minimum Price.

2. The cane price is announced only by the Central Government on the recommendations of the Commission for Agricultural Costs and Prices.

Select the correct answer using the codes given below:

  • A

    1 only

  • B

    2 only

  • C

    Both 1 and 2

  • D

    Neither 1 nor 2

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