Q1. The monetary assistance given by the Government for production activities is called:
A GDP
B Subsidy Correct
C Quota
D Licence
Explanation
A subsidy is financial assistance given by the Government to support production, reduce costs, or encourage a desired economic activity. GDP is a measure of the total value of goods and services produced in an economy, not a payment to producers. A quota is a quantitative limit or allocation, often used in trade or distribution. A licence is official permission to carry out an activity. Since the question asks about monetary help for production activities, subsidy is the precise economic term.