Question : Which of the following pairs of goods is an example for joint supply ?
Option 1: Coffee and tea
Option 2: Ink and Pen .
Option 3: Tooth brush and Paste .
Option 4: Wool and Mutton.
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Correct Answer: Wool and Mutton.
Solution : Correct Answer is Wool and Mutton.
Joint supply refers to a situation where an increase or decrease in the supply of one good causes the supply of another by-product to similarly change. A product or process that has the potential to produce two or more outputs is referred to by the economic term "joint supply." Within the livestock sector, cows are frequently used as examples because they can produce milk, beef, and hides. Wool, sheepskin, meat, and dairy products can all be produced from sheep.
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Question : Which of the following classification bases of industry applies to the products - cotton, jute, wool, silk textile, rubber, tea, sugar, coffee, and edible oil?
Option 1: Key industries
Option 2: Consumer industries
Option 3: Agro-based industries
Option 4: Mineral-based industries
Question : Which of the following is an example of direct tax?
Option 1: Escheat
Option 2: Income Tax
Option 3: Custom Duty
Option 4: Goods and Services Tax
Question : Plant and machinery are
Option 1: Producer's goods .
Option 2: Consumer's goods .
Option 3: Distributor's goods
Option 4: Free goods .
Question : In humans, the neck is joined by the head by which of the following joints?
Option 1: Ball and socket joint
Option 2: Hinge joint
Option 3: Pivotal joint
Option 4: Fixed joint
Question : Demand for complementary goods is known as
Option 1: Joint demand .
Option 2: Derived demand .
Option 3: Direct demand .
Option 4: Cross demand .
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