Increasing returns mean lower costs per unit just as diminishing returns mean higher costs. Thus, the law of increasing return signifies that cost per unit of the marginal or additional output falls with the expansion of an industry. As more and more units of the commodity are produced, the cost per unit goes on steadily falling. Besides, the return is more than proportionate.

Correct Option: B

Increasing returns mean lower costs per unit just as diminishing returns mean higher costs. Thus, the law of increasing return signifies that cost per unit of the marginal or additional output falls with the expansion of an industry. As more and more units of the commodity are produced, the cost per unit goes on steadily falling. Besides, the return is more than proportionate.

Maruti Udyog Ltd. came into being in the year 1982 when Suzuki Motor Corporation (SMC) entered into a joint venture with Government of India to manufacture fuel-efficient passenger cars under the brand name Maruti. Maruti cars, based on Japanese philosophy for super-efficient manufacturing, brought about the renaissance of the Indian components industry.

Correct Option: A

Maruti Udyog Ltd. came into being in the year 1982 when Suzuki Motor Corporation (SMC) entered into a joint venture with Government of India to manufacture fuel-efficient passenger cars under the brand name Maruti. Maruti cars, based on Japanese philosophy for super-efficient manufacturing, brought about the renaissance of the Indian components industry.

In its report, McKinsey Global Institute (MGI) estimated that 680 million Indians, or 56 per cent of the population, lacks the means to meet their essential needs. It proposed a new “empowerment line” that aims to measure the minimum economic cost for a household to fulfill eight most basic needs .

Correct Option: B

In its report, McKinsey Global Institute (MGI) estimated that 680 million Indians, or 56 per cent of the population, lacks the means to meet their essential needs. It proposed a new “empowerment line” that aims to measure the minimum economic cost for a household to fulfill eight most basic needs .

One of the important fiscal measures undertaken by governments to check inflation is to cut personal consumption expenditure. It is done by raising the rates of personal, corporate and commodity taxes and even levying new taxes. The government can also reduce unnecessary expenditure on non-development activities in order to curb inflation.

Correct Option: A

One of the important fiscal measures undertaken by governments to check inflation is to cut personal consumption expenditure. It is done by raising the rates of personal, corporate and commodity taxes and even levying new taxes. The government can also reduce unnecessary expenditure on non-development activities in order to curb inflation.

On July 19, 1969, 14 commercial banks were nationalized, which got presidential approval on August 9, 1969. In 1980, in order to provide government more power and command over credit delivery, six more commercial banks in India were nationalized. If the associate banks of State Bank of India are counted, then the number goes to 27.

Correct Option: C

On July 19, 1969, 14 commercial banks were nationalized, which got presidential approval on August 9, 1969. In 1980, in order to provide government more power and command over credit delivery, six more commercial banks in India were nationalized. If the associate banks of State Bank of India are counted, then the number goes to 27.