Indian Economy Mixed Quiz: Set 73

Human capital formation means raising people's knowledge, skills and abilities, which is a form of intangible wealth. Human capital is the stock of education, skill, health and experience that makes people productive.

Industrial corridors are linear development belts built along a transport spine to speed up industrial growth, but they do not link all State capitals.

Who finally bears a tax (its incidence) is decided by the market, through the elasticities of demand and supply, not by the law that says who must pay it.

PAHAL is the direct benefit transfer scheme for subsidy on cooking gas (LPG). PAHAL stands for Pratyaksh Hanstantrit Labh, meaning direct transferred benefit.

When the capital-output ratio is high, a large amount of investment produces only a small rise in output. The capital-output ratio, or incremental capital-output ratio (ICOR), tells how many units of capital are needed to produce one extra unit of output.

The laws passed between 1948 and the middle of the nineteen fifties ended zamindari, jagirdari and similar tenures across the country and brought about twenty million cultivators into direct relation with the state, and the First Amendment of 1951 secured those laws, so the class of rent collecting intermediaries disappeared.

The MAA (Mothers' Absolute Affection) programme is only about breastfeeding, so statement 3 is the one correct statement and 1, 2 and 4 are not.

Consumer sovereignty means that the spending of consumers decides what is produced: a producer who makes what buyers do not want earns no profit and leaves the business, so in a market economy the consumer is said to rule.

The profit volume ratio measures contribution as a percentage of sales, and contribution is sales minus variable cost.

The Fund of Funds for Startups was created in 2016 with a corpus of ten thousand crore rupees and is operated by SIDBI, which does not invest directly in startups but puts money into alternative investment funds registered with the Securities and Exchange Board of India, and those funds in…

The National Intellectual Property Rights Policy approved in 2016 carries this slogan and brings patents, copyright, trademarks, designs, geographical indications, plant varieties and layout designs under a single framework, with awareness, administration, commercialisation and enforcement as its objectives; its implementation was entrusted to a cell under the Department for Promotion…

Prasanta Chandra Mahalanobis founded the Indian Statistical Institute at Kolkata in 1931, set up the National Sample Survey in 1950, gave statistics the distance measure named after him, pioneered large scale sample surveys and pilot surveys, and prepared the plan frame of the Second Five Year Plan, which placed heavy…

The Consumer Protection Act, 1986 created a three-tier machinery and fixed a money limit for each tier: the district forum could hear a complaint where the value of the goods or services and the compensation claimed did not exceed twenty lakh rupees, the state commission took claims above that limit…

Under the Copyright Act of 1957, copyright in a literary, dramatic, musical or artistic work lasts for the life of the author and sixty years counted from the beginning of the year following the year of death, after which the work enters the public domain.

It was established in 1875 as the Native Share and Stock Brokers Association and functions from Dalal Street in Mumbai, which makes it the oldest stock exchange in Asia; it was also the first exchange in India to receive permanent recognition from the Government under the Securities Contracts (Regulation) Act…

The first summit at the level of heads of state and government was called in November 2008, when the collapse of large financial firms threatened the world economy, and it met at Washington.

Jal Jeevan Mission was announced on 15 August 2019, not in 2016, so this is the statement that is not correct.

The GII measures gender gaps in reproductive health, empowerment and the labour market, and its value runs from 0 to 1.

Physical capital is the variety of inputs, such as tools, machines, buildings, raw materials and money in hand, needed at every stage of production.

The Competition Act, 2002 rests on three pillars, and freedom of trade is the very thing it protects, so no provision of it prohibits trade; on the contrary, the Act opens by stating that it seeks to ensure freedom of trade carried on by other participants in markets in India.