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B Com Exam  >  B Com Tests  >  Interdisciplinary Issues in Indian Commerce  >  Test: Infrastructure - 2 - B Com MCQ

Test: Infrastructure - 2 - B Com MCQ


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10 Questions MCQ Test Interdisciplinary Issues in Indian Commerce - Test: Infrastructure - 2

Test: Infrastructure - 2 for B Com 2024 is part of Interdisciplinary Issues in Indian Commerce preparation. The Test: Infrastructure - 2 questions and answers have been prepared according to the B Com exam syllabus.The Test: Infrastructure - 2 MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Infrastructure - 2 below.
Solutions of Test: Infrastructure - 2 questions in English are available as part of our Interdisciplinary Issues in Indian Commerce for B Com & Test: Infrastructure - 2 solutions in Hindi for Interdisciplinary Issues in Indian Commerce course. Download more important topics, notes, lectures and mock test series for B Com Exam by signing up for free. Attempt Test: Infrastructure - 2 | 10 questions in 10 minutes | Mock test for B Com preparation | Free important questions MCQ to study Interdisciplinary Issues in Indian Commerce for B Com Exam | Download free PDF with solutions
Test: Infrastructure - 2 - Question 1
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What is the primary objective of establishing Special Economic Zones (SEZs)?

Detailed Solution for Test: Infrastructure - 2 - Question 1
The primary objective of establishing Special Economic Zones (SEZs) is to promote exports from the country and provide an internationally competitive and hassle-free environment for exports. SEZs aim to attract foreign investments and enhance economic growth by creating a favorable environment for businesses engaged in export-oriented activities.
Test: Infrastructure - 2 - Question 2
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What is the role of state governments in the establishment of SEZs?

Detailed Solution for Test: Infrastructure - 2 - Question 2
State governments play a significant role in the establishment of SEZs by approving SEZ proposals. They also need to ensure the availability of basic infrastructure such as water and electricity to support SEZ operations.
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Test: Infrastructure - 2 - Question 3
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What is the key purpose of SEZs in terms of economic development?

Detailed Solution for Test: Infrastructure - 2 - Question 3
The primary purpose of SEZs in terms of economic development is to encourage foreign investments and promote rapid economic growth. SEZs create an environment that attracts businesses and foreign capital, leading to increased economic activity and development.
Test: Infrastructure - 2 - Question 4
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What distinguishes an SEZ from the rest of a country in terms of economic laws?
Detailed Solution for Test: Infrastructure - 2 - Question 4
An SEZ is distinguished from the rest of a country by having economic laws that are different from the usual economic laws of the nation. SEZs typically offer a more favorable and business-friendly regulatory environment to encourage investment and exports.
Test: Infrastructure - 2 - Question 5
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Which countries have established Special Economic Zones (SEZs) as mentioned in the text?
Detailed Solution for Test: Infrastructure - 2 - Question 5
The text mentions that SEZs have been established in several countries, including China and India. These two countries are explicitly mentioned in the text as examples of nations with SEZs.
Test: Infrastructure - 2 - Question 6
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Which entity is responsible for monitoring the performance of SEZ units?
Detailed Solution for Test: Infrastructure - 2 - Question 6
The performance of SEZ units is monitored by a unit approval committee consisting of the development commissioner, customs officials, and representatives of the state government. This committee ensures that SEZ units comply with the required standards and regulations.
Test: Infrastructure - 2 - Question 7
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Are SEZs exempt from normal labor laws?
Detailed Solution for Test: Infrastructure - 2 - Question 7
Normal labor laws are applicable to SEZs, and they are enforced by the respective state governments. However, efforts have been made to simplify procedures and introduce a single-window clearance mechanism to ease compliance for businesses operating in SEZs.
Test: Infrastructure - 2 - Question 8
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What is the source of revenue for business units operating in SEZs?
Detailed Solution for Test: Infrastructure - 2 - Question 8
Business units operating in SEZs generate revenue from exports and various business activities. They benefit from a package of incentives and a simplified operating environment that helps enhance their revenue generation.
Test: Infrastructure - 2 - Question 9
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What is the significance of SEZs in a country's economic development?
Detailed Solution for Test: Infrastructure - 2 - Question 9
SEZs are considered essential for rapid economic development in a country. They create an environment that attracts foreign investments, boosts exports, and contributes significantly to economic growth by facilitating business activities and job creation.
Test: Infrastructure - 2 - Question 10
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How do SEZs contribute to a country's international trade?
Detailed Solution for Test: Infrastructure - 2 - Question 10
SEZs contribute to a country's international trade by promoting exports and attracting foreign investments. They create an environment conducive to international trade by offering incentives to businesses engaged in export-oriented activities, thus enhancing a nation's participation in global trade.
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