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Read the following statements carefully and choose the correct alternatives given below:
Statement 1: Subsidies do not add any burden on the financial health of a nation.
Statement 2: Complete removal of subsidies may violate the aim of equitable distribution of income.
Statement 1: Subsidies do not add any burden on the financial health of a nation.
Statement 2: Complete removal of subsidies may violate the aim of equitable distribution of income.
- a)Both the statements are true.
- b)Both the statements are false.
- c)Statement 1 is true and Statement 2 is false.
- d)Statement 2 is true and Statement 1 is false.
Correct answer is option 'D'. Can you explain this answer?
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Verified Answer
Read the following statements carefully and choose the correct alterna...
Subsidies are given to the farmers so that they get inputs at prices which are lesser than the market price. As the statement 1 is false, subsidies do add burden on the financial health of a nation. If with the help of subsidies, government tries to remove the gap between rich and poor, hence aim of equitable distribution of income may be violated if subsidies is removed.
Most Upvoted Answer
Read the following statements carefully and choose the correct alterna...
Statement 1: Subsidies do not add any burden on the financial health of a nation.
Statement 2: Complete removal of subsidies may violate the aim of equitable distribution of income.
The correct answer is option 'D': Statement 2 is true and Statement 1 is false.
Explanation:
Statement 1: Subsidies do not add any burden on the financial health of a nation.
- This statement is false.
- Subsidies are financial assistance provided by the government to individuals or businesses to support specific industries, products, or services.
- Subsidies are usually funded by the government through taxpayers' money or by borrowing, which can add to the financial burden of a nation.
- While subsidies may have positive effects, such as promoting economic growth or providing support to those in need, they can also strain the financial resources of a nation if not managed properly.
Statement 2: Complete removal of subsidies may violate the aim of equitable distribution of income.
- This statement is true.
- Subsidies are often used by governments to promote equitable distribution of income by providing support to vulnerable or disadvantaged groups.
- Removing subsidies completely may result in an unequal distribution of income, as those who rely on subsidies for essential goods or services may face difficulties in affording them.
- For example, removing subsidies on basic food items may lead to an increase in prices, making it harder for low-income individuals to access nutritious food.
- Therefore, a complete removal of subsidies without alternative measures in place can undermine the aim of equitable distribution of income.
In conclusion, Statement 2 is true as complete removal of subsidies can indeed violate the aim of equitable distribution of income. However, Statement 1 is false as subsidies can add to the financial burden of a nation if not managed properly.
Statement 2: Complete removal of subsidies may violate the aim of equitable distribution of income.
The correct answer is option 'D': Statement 2 is true and Statement 1 is false.
Explanation:
Statement 1: Subsidies do not add any burden on the financial health of a nation.
- This statement is false.
- Subsidies are financial assistance provided by the government to individuals or businesses to support specific industries, products, or services.
- Subsidies are usually funded by the government through taxpayers' money or by borrowing, which can add to the financial burden of a nation.
- While subsidies may have positive effects, such as promoting economic growth or providing support to those in need, they can also strain the financial resources of a nation if not managed properly.
Statement 2: Complete removal of subsidies may violate the aim of equitable distribution of income.
- This statement is true.
- Subsidies are often used by governments to promote equitable distribution of income by providing support to vulnerable or disadvantaged groups.
- Removing subsidies completely may result in an unequal distribution of income, as those who rely on subsidies for essential goods or services may face difficulties in affording them.
- For example, removing subsidies on basic food items may lead to an increase in prices, making it harder for low-income individuals to access nutritious food.
- Therefore, a complete removal of subsidies without alternative measures in place can undermine the aim of equitable distribution of income.
In conclusion, Statement 2 is true as complete removal of subsidies can indeed violate the aim of equitable distribution of income. However, Statement 1 is false as subsidies can add to the financial burden of a nation if not managed properly.
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Read the following statements carefully and choose the correct alternatives given below:Statement 1: Subsidies do not add any burden on the financial health of a nation.Statement 2: Complete removal of subsidies may violate the aim of equitable distribution of income.a)Both the statements are true.b)Both the statements are false.c)Statement 1 is true and Statement 2 is false.d)Statement 2 is true and Statement 1 is false.Correct answer is option 'D'. Can you explain this answer?
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