Question : Which of the following is an advantage of foreign competition?
Option 1: No requirement to develop new products.
Option 2: The incentive to produce efficiently.
Option 3: Expansion of foreign market.
Option 4: Saving of foreign exchange reserves.
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Correct Answer: The incentive to produce efficiently.
Solution : The correct option is the incentive to produce efficiently.
An advantage of foreign competition is that it provides an incentive for domestic producers to become more efficient. When competing with foreign companies, domestic businesses are pushed to improve their productivity, reduce costs, and enhance the quality of their products or services to remain competitive in the global market. This drive for efficiency benefits consumers by offering better products and lower prices.
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Question : Directions: Study the following bar diagram carefully and answer the questions. The bar graph given below shows the foreign exchange reserves of a country (in millions US $) from 1991-1992 to 1998-1999.
The ratio of the number of years, in which the foreign exchange reserves are above the average reserves, to those in which the reserves are below the average reserves is:
Option 1: 2 : 6
Option 2: 3 : 4
Option 3: 3 : 5
Option 4: 4 : 4
Question : Extreme forms of the market are
Option 1: perfect competition; oligopoly
Option 2: oligopoly; monopoly
Option 3: perfect competition; monopoly
Option 4: perfect competition; monopolistic competition
Question : Which of the following is not a fundamental duty mentioned in the Indian Constitution?
Option 1: To bring reform
Option 2: To develop humanism
Option 3: To develop the spirit of inquiry
Option 4: To develop the spirit of harmony
Question : The 73rd Constitutional Amendment Act is related to which of the following?
Option 1: Foreign exchange
Option 2: Finance Commission
Option 3: Panchayati Raj
Option 4: Reserve Bank of India
Question : Which Indian financial institution protects investors in the stock market?
Option 1: Bombay Stock Exchange
Option 2: Reserve Bank of India
Option 3: Securities and Exchange Board of India
Option 4: National Stock Exchange
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