Question : Which of the following is a feature of public goods?
Option 1: These goods are more competitive.
Option 2: These goods are limited in supply.
Option 3: Consumption of one person does not affect the consumption of another person.
Option 4: Only tax payers can get the benefit of public goods.
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Correct Answer: Consumption of one person does not affect the consumption of another person.
Solution : The correct answer is Consumption of one person does not affect the consumption of another person.
Public goods are those that are generally accessible to all members of a society or community and have two distinguishing characteristics: they are neither rivalrous nor excludable. They are available for use by everybody, and using them doesn't make them less available for use in the future.
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Question : Which of the following is an indirect tax?
Option 1: Capital gains tax
Option 2: Goods and services tax
Option 3: Wealth tax
Option 4: Gift tax
Question : Which of the following is not an indirect tax?
Option 1: Excise tax
Option 3: Customs duty
Option 4: Wealth tax
Question : Which of the following taxes is levied by the state government only?
Option 1: Wealth tax
Option 2: Entertainment tax
Option 3: Income tax
Question : In which of the following cases does the law of demand fail?
Option 1: Giffen goods
Option 2: Normal goods
Option 3: Inferior goods
Option 4: Both Giffen and inferior goods
Question : Which of the following is not on the list of Maharatna?
Option 1: Coal India Limited
Option 2: Steel Authority of India Limited
Option 3: Hindustan Petroleum Corporation Limited
Option 4: Bharat Heavy Electrical Limited
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