JK GK MCQs

General Knowledge with reference to J&K Questions with solutions MCQs

1. Which of the following economic resources can not be converted into commodity:

A

Land

B

Labour

C

Capital

D

All of these can be converted into Commodity.

General Knowledge with reference to J&K General Economics
Correct Answer : B
Explanation :

Labour cannot be converted into commodity.

Correct Answered :

Wrong Answered :

2. Subsidies are used to encourage................of a commodity:

A

Consumption

B

Production

C

Saving

D

Inflation

General Knowledge with reference to J&K General Economics
Correct Answer : B
Explanation :

When government subsidies are implemented to the supplier, an industry is able to allow its producers to produce more goods and services. This increases the overall supply of that good or service,

Correct Answered :

Wrong Answered :

3. Taxes are used to discourage............of a commodity:

A

Consumption

B

Production

C

Saving

D

Inflation

General Knowledge with reference to J&K General Economics
Correct Answer : A
Explanation :

Some taxes are charged to discourage a behavior or purchase of certain goods.

Correct Answered :

Wrong Answered :

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