Passage -2It is easy for the government to control State-owned companies through nods and winks. So what really needs to be done as first step is to put petrol pricing on a transparent formula - if the price of crude is x and the exchange rate y, then every month or fortnight, the government announces a maximum price of petrol, which anybody can work out from the x and Y. The rule has to be worked out to make sure that the oil-marketing can, in general, cover their costs. This will mean that if one company can innovate and cut costs, it will make greater profits. Hence, firms will be more prone to innovate and be efficient under this system. Once the rule is announced, there should be no interference by the government. If this is done for a while, private companies will re-enter this market. And once a sufficient number of them are in the fray, we can remove the rule-based pricing and leave it truly to the market (subject to, of course, the usual relations of anti-trust and other competition laws).Q.Consider the following statements:According to the passage, private oil companies re-enter the oil producing market if 1. a transparent rule-based petrol pricing exists. 2. There is no government interference in the oil producing market. 3. subsidies are given by the government.4. regulations of anti-trust are removed .Which of the statements given above are correct?a)1 and 2b)2 and 3c)3 and 4d)2 and 4Correct answer is option 'A'. Can you explain this answer?

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Q.Consider the following statements:

According to the passage, private oil companies re-enter the oil producing market if

1. a transparent rule-based petrol pricing exists

. 2. There is no government interference in the oil producing market

. 3. subsidies are given by the government.

4. regulations of anti-trust are removed .

Which of the statements given above are correct?

a)
1 and 2
b)
2 and 3
c)
3 and 4
d)
2 and 4

Correct answer is option 'A'. Can you explain this answer?

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Passage -2It is easy for the government to control State-owned compani...

Explanation:

Correct Answer: a) 1 and 2

Explanation:

Statement 1: According to the passage, private oil companies re-enter the oil producing market if a transparent rule-based petrol pricing exists. This is true as the passage suggests that once a transparent formula for petrol pricing is established, private companies will be more inclined to re-enter the market.

Statement 2: According to the passage, private oil companies re-enter the oil producing market if there is no government interference in the oil producing market. This is true as the passage mentions that once the rule for petrol pricing is announced, there should be no interference by the government, which will encourage private companies to participate.

Therefore, both statements 1 and 2 are correct based on the information provided in the passage.

Answered by Notes Wala · View profile

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Passage -2It is easy for the government to control State-owned companies through nods and winks. So what really needs to be done as first step is to put petrol pricing on a transparent formula - if the price of crude is x and the exchange rate y, then every month or fortnight, the government announces a maximum price of petrol, which anybody can work out from the x and Y. The rule has to be worked out to make sure that the oil-marketing can, in general, cover their costs. This will mean that if one company can innovate and cut costs, it will make greater profits. Hence, firms will be more prone to innovate and be efficient under this system. Once the rule is announced, there should be no interference by the government. If this is done for a while, private companies will re-enter this market. And once a sufficient number of them are in the fray, we can remove the rule-based pricing and leave it truly to the market (subject to, of course, the usual relations of anti-trust and other competition laws).Q.Consider the following statements:According to the passage, private oil companies re-enter the oil producing market if 1. a transparent rule-based petrol pricing exists. 2. There is no government interference in the oil producing market. 3. subsidies are given by the government.4. regulations of anti-trust are removed .Which of the statements given above are correct?a)1 and 2b)2 and 3c)3 and 4d)2 and 4Correct answer is option 'A'. Can you explain this answer?

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Passage -2It is easy for the government to control State-owned companies through nods and winks. So what really needs to be done as first step is to put petrol pricing on a transparent formula - if the price of crude is x and the exchange rate y, then every month or fortnight, the government announces a maximum price of petrol, which anybody can work out from the x and Y. The rule has to be worked out to make sure that the oil-marketing can, in general, cover their costs. This will mean that if one company can innovate and cut costs, it will make greater profits. Hence, firms will be more prone to innovate and be efficient under this system. Once the rule is announced, there should be no interference by the government. If this is done for a while, private companies will re-enter this market. And once a sufficient number of them are in the fray, we can remove the rule-based pricing and leave it truly to the market (subject to, of course, the usual relations of anti-trust and other competition laws).Q.Consider the following statements:According to the passage, private oil companies re-enter the oil producing market if 1. a transparent rule-based petrol pricing exists. 2. There is no government interference in the oil producing market. 3. subsidies are given by the government.4. regulations of anti-trust are removed .Which of the statements given above are correct?a)1 and 2b)2 and 3c)3 and 4d)2 and 4Correct answer is option 'A'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Passage -2It is easy for the government to control State-owned companies through nods and winks. So what really needs to be done as first step is to put petrol pricing on a transparent formula - if the price of crude is x and the exchange rate y, then every month or fortnight, the government announces a maximum price of petrol, which anybody can work out from the x and Y. The rule has to be worked out to make sure that the oil-marketing can, in general, cover their costs. This will mean that if one company can innovate and cut costs, it will make greater profits. Hence, firms will be more prone to innovate and be efficient under this system. Once the rule is announced, there should be no interference by the government. If this is done for a while, private companies will re-enter this market. And once a sufficient number of them are in the fray, we can remove the rule-based pricing and leave it truly to the market (subject to, of course, the usual relations of anti-trust and other competition laws).Q.Consider the following statements:According to the passage, private oil companies re-enter the oil producing market if 1. a transparent rule-based petrol pricing exists. 2. There is no government interference in the oil producing market. 3. subsidies are given by the government.4. regulations of anti-trust are removed .Which of the statements given above are correct?a)1 and 2b)2 and 3c)3 and 4d)2 and 4Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Passage -2It is easy for the government to control State-owned companies through nods and winks. So what really needs to be done as first step is to put petrol pricing on a transparent formula - if the price of crude is x and the exchange rate y, then every month or fortnight, the government announces a maximum price of petrol, which anybody can work out from the x and Y. The rule has to be worked out to make sure that the oil-marketing can, in general, cover their costs. This will mean that if one company can innovate and cut costs, it will make greater profits. Hence, firms will be more prone to innovate and be efficient under this system. Once the rule is announced, there should be no interference by the government. If this is done for a while, private companies will re-enter this market. And once a sufficient number of them are in the fray, we can remove the rule-based pricing and leave it truly to the market (subject to, of course, the usual relations of anti-trust and other competition laws).Q.Consider the following statements:According to the passage, private oil companies re-enter the oil producing market if 1. a transparent rule-based petrol pricing exists. 2. There is no government interference in the oil producing market. 3. subsidies are given by the government.4. regulations of anti-trust are removed .Which of the statements given above are correct?a)1 and 2b)2 and 3c)3 and 4d)2 and 4Correct answer is option 'A'. Can you explain this answer?.

Solutions for Passage -2It is easy for the government to control State-owned companies through nods and winks. So what really needs to be done as first step is to put petrol pricing on a transparent formula - if the price of crude is x and the exchange rate y, then every month or fortnight, the government announces a maximum price of petrol, which anybody can work out from the x and Y. The rule has to be worked out to make sure that the oil-marketing can, in general, cover their costs. This will mean that if one company can innovate and cut costs, it will make greater profits. Hence, firms will be more prone to innovate and be efficient under this system. Once the rule is announced, there should be no interference by the government. If this is done for a while, private companies will re-enter this market. And once a sufficient number of them are in the fray, we can remove the rule-based pricing and leave it truly to the market (subject to, of course, the usual relations of anti-trust and other competition laws).Q.Consider the following statements:According to the passage, private oil companies re-enter the oil producing market if 1. a transparent rule-based petrol pricing exists. 2. There is no government interference in the oil producing market. 3. subsidies are given by the government.4. regulations of anti-trust are removed .Which of the statements given above are correct?a)1 and 2b)2 and 3c)3 and 4d)2 and 4Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.

Here you can find the meaning of Passage -2It is easy for the government to control State-owned companies through nods and winks. So what really needs to be done as first step is to put petrol pricing on a transparent formula - if the price of crude is x and the exchange rate y, then every month or fortnight, the government announces a maximum price of petrol, which anybody can work out from the x and Y. The rule has to be worked out to make sure that the oil-marketing can, in general, cover their costs. This will mean that if one company can innovate and cut costs, it will make greater profits. Hence, firms will be more prone to innovate and be efficient under this system. Once the rule is announced, there should be no interference by the government. If this is done for a while, private companies will re-enter this market. And once a sufficient number of them are in the fray, we can remove the rule-based pricing and leave it truly to the market (subject to, of course, the usual relations of anti-trust and other competition laws).Q.Consider the following statements:According to the passage, private oil companies re-enter the oil producing market if 1. a transparent rule-based petrol pricing exists. 2. There is no government interference in the oil producing market. 3. subsidies are given by the government.4. regulations of anti-trust are removed .Which of the statements given above are correct?a)1 and 2b)2 and 3c)3 and 4d)2 and 4Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Passage -2It is easy for the government to control State-owned companies through nods and winks. So what really needs to be done as first step is to put petrol pricing on a transparent formula - if the price of crude is x and the exchange rate y, then every month or fortnight, the government announces a maximum price of petrol, which anybody can work out from the x and Y. The rule has to be worked out to make sure that the oil-marketing can, in general, cover their costs. This will mean that if one company can innovate and cut costs, it will make greater profits. Hence, firms will be more prone to innovate and be efficient under this system. Once the rule is announced, there should be no interference by the government. If this is done for a while, private companies will re-enter this market. And once a sufficient number of them are in the fray, we can remove the rule-based pricing and leave it truly to the market (subject to, of course, the usual relations of anti-trust and other competition laws).Q.Consider the following statements:According to the passage, private oil companies re-enter the oil producing market if 1. a transparent rule-based petrol pricing exists. 2. There is no government interference in the oil producing market. 3. subsidies are given by the government.4. regulations of anti-trust are removed .Which of the statements given above are correct?a)1 and 2b)2 and 3c)3 and 4d)2 and 4Correct answer is option 'A'. Can you explain this answer?, a detailed solution for Passage -2It is easy for the government to control State-owned companies through nods and winks. So what really needs to be done as first step is to put petrol pricing on a transparent formula - if the price of crude is x and the exchange rate y, then every month or fortnight, the government announces a maximum price of petrol, which anybody can work out from the x and Y. The rule has to be worked out to make sure that the oil-marketing can, in general, cover their costs. This will mean that if one company can innovate and cut costs, it will make greater profits. Hence, firms will be more prone to innovate and be efficient under this system. Once the rule is announced, there should be no interference by the government. If this is done for a while, private companies will re-enter this market. And once a sufficient number of them are in the fray, we can remove the rule-based pricing and leave it truly to the market (subject to, of course, the usual relations of anti-trust and other competition laws).Q.Consider the following statements:According to the passage, private oil companies re-enter the oil producing market if 1. a transparent rule-based petrol pricing exists. 2. There is no government interference in the oil producing market. 3. subsidies are given by the government.4. regulations of anti-trust are removed .Which of the statements given above are correct?a)1 and 2b)2 and 3c)3 and 4d)2 and 4Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of Passage -2It is easy for the government to control State-owned companies through nods and winks. So what really needs to be done as first step is to put petrol pricing on a transparent formula - if the price of crude is x and the exchange rate y, then every month or fortnight, the government announces a maximum price of petrol, which anybody can work out from the x and Y. The rule has to be worked out to make sure that the oil-marketing can, in general, cover their costs. This will mean that if one company can innovate and cut costs, it will make greater profits. Hence, firms will be more prone to innovate and be efficient under this system. Once the rule is announced, there should be no interference by the government. If this is done for a while, private companies will re-enter this market. And once a sufficient number of them are in the fray, we can remove the rule-based pricing and leave it truly to the market (subject to, of course, the usual relations of anti-trust and other competition laws).Q.Consider the following statements:According to the passage, private oil companies re-enter the oil producing market if 1. a transparent rule-based petrol pricing exists. 2. There is no government interference in the oil producing market. 3. subsidies are given by the government.4. regulations of anti-trust are removed .Which of the statements given above are correct?a)1 and 2b)2 and 3c)3 and 4d)2 and 4Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Passage -2It is easy for the government to control State-owned companies through nods and winks. So what really needs to be done as first step is to put petrol pricing on a transparent formula - if the price of crude is x and the exchange rate y, then every month or fortnight, the government announces a maximum price of petrol, which anybody can work out from the x and Y. The rule has to be worked out to make sure that the oil-marketing can, in general, cover their costs. This will mean that if one company can innovate and cut costs, it will make greater profits. Hence, firms will be more prone to innovate and be efficient under this system. Once the rule is announced, there should be no interference by the government. If this is done for a while, private companies will re-enter this market. And once a sufficient number of them are in the fray, we can remove the rule-based pricing and leave it truly to the market (subject to, of course, the usual relations of anti-trust and other competition laws).Q.Consider the following statements:According to the passage, private oil companies re-enter the oil producing market if 1. a transparent rule-based petrol pricing exists. 2. There is no government interference in the oil producing market. 3. subsidies are given by the government.4. regulations of anti-trust are removed .Which of the statements given above are correct?a)1 and 2b)2 and 3c)3 and 4d)2 and 4Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice UPSC tests.

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