Explore topic-wise InterviewSolutions in .

This section includes InterviewSolutions, each offering curated multiple-choice questions to sharpen your knowledge and support exam preparation. Choose a topic below to get started.

8051.

How is tertiary sector different from the other two sectors of economic activities ? Explain.

Answer»

Tertiary sector is different from other two sectors because :

(i) If does not provide or produce goods. 

(ii) It provides services such as transport. communication, IT, etc. 

(iii) It is the backbone of all the sectors. 

(iv) More the primary and sector sectors develop, there increases the requirement of services.

8052.

How are local companies benefitted by collaborating with multinational companies? Explain with examples

Answer»

By collaboration of MNC with local companies helps in the economic development of local companies.

(i) MNCs can provide money for additional investments, like buying new machines for faster production.

(ii) MNCs might bring with them the latest technology for production.

(iii) They earn greater profits.

8053.

How do banks mediate between those who have surplus money and those who need money?

Answer»

A bank mediates between those who have surplus money and those who need money by allowing both to open accounts with it. Banks only keep about 15% of cash reserves to provide to people who come to withdraw money on a daily basis. Those with surplus money are encouraged to invest with the bank and are paid a certain rate of interest for the same. Those who need loans are required to pay an interest on their loans. The difference between payment to lenders and receipt from borrowers comprises the bank’s earnings. Thus, the bank acts as a beneficiary for those with surplus money as well as those who need money.

8054.

How are 'local companies' benefited by collaborating with 'multinational companies' ? Evaluate any three benefits.

Answer»

Benefits of local company by collaborating with MNC : 

(i) MNCs provide money for additional investments like buying new machines for faster production. 

(ii) MNCs bring with them the latest technology for production. 

(iii) They have invested in newer technology and production methods and raised their production. 

(iv) Some have gained from successful collaborations with foreign companies.

8055.

How are 'local companies' benefited by collaborating with 'multinational companies' ? Evaluate any three benefits.

Answer»

Benefits of Local Company by collaborating with MNC :
(i) MNCs provide money for additional investments like buying new machines for faster production.
(ii) MNCs bring with them the latest technology for production.
(iii) They have invested in newer technology and production methods and raised their production.
(iv) Some have gained from successful collaborations with foreign companies.

8056.

Who appoints the Council of Ministers and who can be included in it?

Answer»

Appointment of Council of Ministers After the, appointment of the Prime Minister, the President appoints the Ministers of the Council of Ministers on the advice of the Prime Minister. The Ministers are usually from the party or the coalition that has the majority in the Lok Sabha. In other words, the President appoints the council of ministers on the advice of the ’ Prime Minister.

Composition

The council of ministers is the official name for the body , that includes all the ministers. It usually has 60 to 80 ministers, of different ranks. The council of ministers have collective responsibility to the Lok Sabha, it includes three types of ministers.

(i) Cabinet Ministers: They are usually top leaders of the ruling party or parties who are incharge of the major ministries. They meet to take decisions in the name of the council of ministers. Cabinet is the inner ring of the council of ministers.

(ii) Ministers of State with Independent Charge: They are usually in charge at smaller ministries. They participate in the Cabinet meetings only when specially invited.

(iii) Ministers of State: They are attached-to and required to assist Cabinet members.

8057.

Explain any three features of the early Bengali novels.

Answer»

Three Features of early Bengali novel are :

(i) Early Bengali novels dealt in two worlds. Many of these novels narrated past events and their characters, events and love stories were based on historical events. Another group of novels depicted the inner world of domestic life in contemporary settings. Domestic novels frequently dealt with the social problems and romantic relationship between men and women.

(ii) The group, of literary people often collected at a convenient place to read, discuss and judge literary works. Some well known Bengali novelists were Bankim Chandra Chattopadhyay, Sarat Chandra, Bhudev Mukhopadhyay, Rabindranath Tagore etc.

(iii) Novels were also relished for its language. Prose written by Bankim was sanskritised but novels were also written in colloquial language in Meyeli in women’s language.

8058.

Explain the reactions of different metals with hot water, cold water and steam. Give one example with a proper balanced chemical equation. Name two metals which do not react with any form of water.

Answer»

Sodium reacts explosively with cold water. The reaction results in the formation of their respective hydroxides and hydrogen gas. The reaction is so violent and exothermic that the evolved hydrogen catches fire. These metals give hydroxides with water as their oxides are soluble in water.

2Na(s) + 2H2O(l) → 2NaOH(aq) + H2(g) + Heat

On the other hand, metals such as iron do not react with cold water or hot water. However, it reacts with steam to give their respective oxides and hydrogen gas.

3Fe(s) + 4H2O(g) → Fe3O4(aq) + 4H2 

Thus, metals react with water to form metal oxides and hydrogen gas. Some metal oxides are soluble in water. These metal oxides form hydroxides by reacting with one or more water molecules. The general reaction for the process is given as:

Metal + Water → Metal oxide + Hydrogen

Metal oxide + Water → Metal Hydroxide

The vigor with which a metal reacts with water differs from metal to metal. Some metals react with cold water, others with hot water, while some react only with steam. There are also metals that do not even react with steam. For example, silver and gold do not react with water at all.

8059.

Suggest and explain any five measures to reform political parties.

Answer»

Effective measures to reform political parties are :

(a) A law should be made to regulate the internal affairs of political parties.

(b) It should be made compulsory for political parties to maintain a register of its members.

(c) It should be made. mandatory for political parties to give a minimum number of tickets; about 1/3rd to its women candidates.

(d) There should be a quota for women in the decision making bodies of the party.

(e) There should be state funding of elections.

(f) The government should give parties money to support their election expenses in kind for example petrol, paper, telephone, etc., or in cash. 

(g) Vote casting should be made compulsory in each election. 

(h) Data regarding caste and religion, OBC, SC, ST should not be utilized during election period in any form.

8060.

Name three natural methods of replenishing the nutrients of the soil. Are these natural methods sufficient to maintain the fertility of the soil?

Answer»

Field fallow, crop rotation and mixed cropping are three natural methods of replenishing the nutrients of the soil. These natural methods are not enough and farmers have to resort to manures and fertilisers.

8061.

Describe any five major problems faced by road transport in India.

Answer»

Five problems faced by road transport in India are given below : 

(i) Volume of traffic and passengers is very large. 

(ii) Road network is inadequate. 

(iii) Half the roads are unmetalled, which limits their usage in rainy season. 

(iv) National Highways too are inadequate. 

(v) Roadways are highly congested in cities and most bridges and culverts are old and narrow.

8062.

Classify communication services into two categories. Explain main features of each.

Answer»

Classification of communication services in two categories : 

(i) Personal communication. 

(ii) Mass Communication. 

Features : 

(i) Personal communication 

(a) Communication between two or more persons at personal level. 

(b) The Indian postal network handles parcels as well as personal written communication. 

(c) Cards and envelops posts and telegraph, email. 

(d) Telephone services like STD, ISD provide easy and comfortable network to a large number of people.

(ii) Mass communication : 

(a) It is the communication through which one can communicate with several people at the same time. 

(b) It provides the entertainment and creates awareness among people about various national programmes and policies. 

(c) It includes print media like newspapers, magazines, book etc. and electronic media like radio, television, etc. 

8063.

What happens to the level of national income, when aggregate supply falls short of aggregate demand? (a) Increases (b) Decreases (c) Constant (d) None of them

Answer»

(a) Increases

8064.

“All over the world, people express their dissatisfaction with the failure of political parties to perform their functions well.” Analyse the statement  with arguments.

Answer»

Popular Dissatisfaction and Criticism

It has focused on four areas in the working of political parties, need to face and overcome these challenges in order to remain effective instruments of democracy. 

1. Lack of Integral Democracy within parties: parties do not keep membership registers, do not have organisational meetings, and do not conduct internal elections regularly. 

2. Dynastic Succession: A rule in which family’s generation rules forever and there can be no change. This is against the democracy. 

3. Growing role of Money and Muscle Power: Nowadays, elections are focused mainly on winning at any cost, so parties try to use short cuts like using money and muscle power. 

4. Absence of a meaningful Choice: In the present political scenario, there is no ideological difference among the political parties, so they do not provide a meaningful choice to the voters. Sometimes same set of leaders keep shifting from one party to another.

8065.

Mention some right of children with special needs.

Answer»

Rights of children with special needs:

i. Growing in a diverse atmosphere.

ii. Schools to adapt and provide the needed support to ensure placement of children with disabilities.

iii. Should not lead to marginalization and segregation of children with disabilities.

8066.

If in an economy investment is greater than saving, national income of the economy, (a) increases (b) decreases (c) remains constant (d) None of them

Answer»

(a) increases

8067.

“India is an important iron and steel producing country in the world. Yet we are not able to perform to our full potential.” Suggest and explain any three measures to get full potential.

Answer»

India is an important iron and steel producing country in the world yet we are not able to perform to our full potential largely due to

(i) High costs and limited availability of coking coal. 

(ii) Lower productivity of labour. 

(iii) Irregular supply of energy and 

(iv) Poor Infrastructure.

8068.

Highlight the positive and negative impact of castcism with regard to political expression. Give any three examples to justify the statement.

Answer»

Positive Impact of Casteism: 

(i) With the economic development, large scale urbanisation growth of literacy and education, occupational, mobility and the weakening of the position of landlords in the village, the old notions of caste hierarchy are breaking down.  

(ii) The constitution has prohibited any caste based discrimination and laid the foundation of policies to reverse the injustices of the caste system. 

Negative Impacts of Casteism: 

(i) When parties choose candidates in election, they keep in mind the caste imposition of the electorate and nominate candidates from different castes so as to get the necessary support to win elections. (ii) Political parties and candidates in elections make appeal to caste sentiments to muster support.

8069.

Why does the exact balance of power between the Central and the State Governments varies from one Federation to another? Explain with two examples.

Answer»

The exact balance of power between the centre and the state government varies from one Federation to another due to the nature of route adopted by the country like:

(i) The first example is where independent states come together on their own to form a bigger unit. They, by pooling sovereignty and retaining identity, can increase their security. This type of coming together federations include USA, Switzerland and Australia. In this first category, all the constitutent states usually have equal powers and are strong vis-a-vis the federal government.

(ii) The second category is where a large country decides to divide its powers between the constitutent states and the national government. India, Spain and Belgium are examples of this kind of holding together federations. In this second category, the central government is more powerful vis-a-vis the states. Very often different constituted units of the federation have unequal powers. Some units may be granted special powers.

8070.

Write the important features of right to life and right to equality.

Answer»

Right to Life includes: 

- Live with human dignity

- Healthy environment

- Livelihood or work

- Speedy instice

Right to Equality includes:

- Equality before law

- Equal protection of law

- Non-discrimination

- Equal opportunities

8071.

Why do the consumption expenditure of involuntary unemployed worker is not zero, even at zero level of income?

Answer»

A worker has to incur some expenditure to fulfill his basic needs even at zero level of income. 

Value: Analytic.

8072.

What are the main features of ‘Right to equality'?

Answer»

The main features of 'Right to Equality' are given below: 

(i) The Constitution says that the government shall not deny to any person in India equality before law or the equal protection of the laws. It means that the laws apply in the same manner to all, regardless of a person's status. Every citizen from the Prime Minister to a small farmer in a remote village, is subjected to the same laws. 

(ii) The government shall not discriminate against any citizen on grounds of religion, caste, ethnicity, sex or place of birth. Every citizen shall have access to public places like shops, restaurants, hotels and cinema halls.

(iii) All citizens have equality of opportunity in matters relating to employment or appointment to any position in the government. No citizen shall be discriminated against or made ineligible for employment on the grounds mentioned above.

8073.

In Keynes theory, MPC fall with an increase in income. 

Answer»

False. Because Keynes assumed MPC remains constant. So, with the increase in income, MPC remains constant.

8074.

"Indian judiciary considered one of the most powerful in the world”. Give any three reasons.

Answer»

Largest volume of cases,huge filing of cases,lack of infrastructure,lack of logistic lack of para legals and assistance,arrogant and adamant bar,incorrigible litigants,archaic procedures,lack of cooperation from other associated agencies

Indian judiciary is considered one of the most powerful in the world because

(i) Mode of appointment and removal of Judges of Supreme Court and High Courts makes Indian judiciary powerful.

(ii) Our Constitution has laid down very high’ and specific qualifications for the appointment of judges like

(a) Well versed in law.

(b) 10 to 5 years of experience as an advocate and a judge of High Court respectively.

(iii) Our judiciary is independent of legislative and executive control. It can take decisions independendy.

8075.

Which of the following institutions can make changes to an existing law of the country?(a) The Supreme Court (b) The President(c) The Prime Minister (d) The Parliament

Answer»

(d) The Parliament

8076.

MPC of the poor is more than that of the rich.

Answer»

True. It happens because the poor spend a greater percentage of their increased income on consumption as most of their basic needs remain unsatisfied. As against it, the rich people spend a smaller proportion as their basic needs are already satisfied.

8077.

Explain three causes of unemployment in India and suggest any two measures to reduce unemployment in India.

Answer»

The causes of unemployment in India are:

(i) Caste System:The casteist society in India has led to the ruling out of a certain class of people from jobs.

People from the lower classes for ex. The Dalits and Adivasis are denied entry in certain working places, and they are forced to follow in the tradition of poverty.

(ii) Population Growth: 

The rise in population has led to the scarcity of jobs for people, especially the urban educated youth.

(iii) Agriculture is a seasonal occupation: Agriculture is a seasonal occupation, which requires a lot of capital and labour. After the harvest season is over, farmers struggle to find an occupation. This is known as seasonal unemployment.

Measures to Reduce Unemployment:

(i) Integrated Dry Land Agricultural Development :
Under this scheme, permanent works like soil conservation, development of land and water harvesting are undertaken.

(ii) National Rural Employment Programme : This programme aims at creating community assets for strengthening rural infrastructure like drinking water wells, community irrigation wells, village tanks, rural roads and schools.

8078.

What can be the maximum value of marginal propensity to save?

Answer»

The maximum value of marginal propensity to save is 1. It is possible only when MPC = 0, i.e., the entire additional income is saved.

8079.

What is the relationship between marginal propensity to save and marginal propensity to consume?

Answer»

The sum total of MPC and MPS is equal to one, i.e., MPC + MPS = 1.

8080.

Can APC be zero?

Answer»

APC can be zero only when consumption becomes zero. However, consumption is never zero at any level of income. Even at zero level of national income, there is autonomous consumption (C ).

8081.

"Delegation is not a process of abdication.‟ Comment.

Answer»

The given statement is true as delegation helps a manager to extend his area of operation as without it his activities would be restricted to only what he himself can do. However, delegation does not mean abdication; the manger shall still be accountable for the assigned task. 

8082.

“Financial markets play an important role in the allocation of scarce resources in an economy by performing important functions.” In light of the given statement, state any three functions performed by Financial Market.

Answer»

Functions of Financial Market: 

1. Financial markets mobilise savings of households and channelize them into the most productive uses. 

2. It facilitates price discovery of a financial asset through interaction between supply and demand of funds. 

 3. Financial markets provide liquidity to financial assets, so that they can be easily converted into cash whenever required. 

4. Financial markets provide valuable information about securities being traded in the market and thereby, help to reduce cost of transaction in terms of time, effort and money.

8083.

There are a large number of buyers and sellers in (Choose the correct alternative): (a) Perfect competition only. (b) Monopolistic competition only. (c) Both (a) and (b). (d) Oligopoly.

Answer»

(a) Perfect competition only.

8084.

Define short-run production function.

Answer»

Short-run production function may be defined as technological relationship between physical units of a variable factor of production and the output.

8085.

Let TR be total revenue, Q be quantity of output and ‘rr the number of units, then marginal revenue equals (Choose the correct alternative) : (a) TRn – TRn-1 only (b)  \(\frac{Change\,in\,TR}{Change\,in\,Q}\) Only(c) Both (a) and (b) (d) None of the above

Answer»

(c) Both (a) and (b).

8086.

Define ‘depreciation’.

Answer»

Depreciation is an expected decrease in the value of fixed capital assets due to its general use.

8087.

What is the law of variable proportions?

Answer»

Law of Variable Proportions: The law states 'if more and more units of variable factor are employed with fixed factors, total product increases at an increasing rate in a beginning, then increases at a diminishing rate and finally starts falling'. Since increase in total product by employmnet of an additional unit of a variable factor is called marginal product, this law can be defined in terms of MP also. If quantities of a certain variable factor are increased while quantities of other factors are fixed, MPP first increases, then falls but remains positive and finally becomes negative. It is a short period concept.

8088.

Depreciation is an expected decrease in the value of fixed capital assets due to its general use.

Answer»

When net indirect taxes are negative i.e., subsidies are more than indirect taxes.

8089.

What are the measures for double counting?

Answer»

Counting the value of commodities at every stage of production more than one time is called double counting. 

It can be avoided by 

a) taking value-added method in the calculation of the national income. 

b) By taking the value of final commodity only while calculating N.I

8090.

Why is gross domestic product at factor cost more than the net domestic product at factor cost?

Answer»

Gross domestic product at factor cost includes depreciation while net domestic product at factor cost does not include depreciation.

8091.

When will GDP of an economy be equal to GNP?

Answer»

GDP and GNP will be equal when the ‘net factor income from abroad’ is zero.

8092.

What is the value added method of measuring national income?

Answer»

Value added method is the method that measures the national income by estimating the value added by each producing enterprises within the domestic territory of the country in an accounting year.

8093.

When will the domestic income exceed the national income?

Answer»

When the net factor income from abroad is negative.

8094.

What is a ‘fly front’? Define the term ‘French placket’. Where is this placket normally used?

Answer»

Fly front- if the buttons are concealed by a separate flap.

French placket- button front shirt without a separate pieced placket.

Use- white tie shirts.

8095.

Write steps to prepare bias strip.

Answer»

a. to find true bias.

b. Draw the width and desired number of strips.

c. Adequate number of strips to be joined for required total length.

d. Stitch bias strips with 1/4th seam allowance.

e. Continue to join bias strips as needed.

8096.

Consider the demand curve D(p) = 10 – 3p. What is the elasticity at price 5/3?

Answer»

D(p) = 10 – 3p
b = ΔQ/ΔP = 3
p = 5/3 or D (5/3)= 10 - 3x5/3
Q = 10-5 =5

edΔQ/ΔP x P/Q

= -3 x (5/3)/5
ed= -1
i.e., the elasticity of demand at price p = 5/3 is unitary elastic.

8097.

Consider the demand for a good. At price Rs 4, the demand for the good is 25 units. Suppose price of the good increases to Rs 5, and as a result, the demand for the good falls to 20 units. Calculate the price elasticity.

Answer»

P1 = 4, Q1 = 25

P2 = 5, Q2 = 20

ΔP = P2 - P1 = 5 - 4 = 1

ΔQ = Q2 - Q1 = 20 - 25 = -5

edΔQ/ΔP X  P/Q

= - 5/1 x 4/25

= - 4/5

ed = - 0.8

8098.

Suppose there are two consumers in the market for a good and their demand functions are as follows: d1(p) = 20 - p for any price less than or equal to 20, and d1(p) = 0 at any price greater than 20. d2(p) = 30 - 2p for any price less than or equal to 15 and d1(p) = 0 at any price greater than 15. Find out the market demand function.

Answer»

d1(p) = 20 - p {p≤ 20, p > 20

d2(p) = 30 - 2p{p ≤ 15, p > 15

For price less than Rs 15 (≤ 15)
Market demand for a good = d1(p) + d2(p)

= 20 – p + 30 – 2p
= 50 – 3p
For price more than Rs 15 but less than Rs 20(15 < p ≤ 20)

Market demand = d1(p) + d2(p)

= 20 – p + 0(∵ for p > 15, d2(p) = 0)
= 20 – p
For price more than 20 (p>20)

Market demand = d1(p) + d2(p)

= 0 + 0(∵ for p > 10, d1(p) = 0, d2(p) = 0)

= 0

Thus, market demand

= 50 - 3p if p ≤  15

= 20 - p if 15 < p ≤  20

= 0 if p>20

8099.

Suppose there are 20 consumers for a good and they have identical demand functions: d(p) = 10 – 3p for any price less than or equal to 10/3 and d1(p) = 0 at any price greater than 10/3. What is the market demand function?

Answer»

d(p) = 10 - 3p if p ≤ 10/3

d1(p) = 0 if p > 10/3

Market demand = Summation of demand of all the consumers in the market 

For price ≤ 10/3

Market demand = 20∑d(p) (Since consumers have identical demand curve)

= 20 x (10 - 3p)

= 200 - 60p

For price > 10/3

Market demand = 20 x d1(p)

= 20 x 0

= 0

Market demand function = 200 - 60p{if  p ≤ 10/3, if  p > 10/3

= 0

8100.

Consider a market where there are just two consumers and suppose their demands for the good are given as follows:Pd1d2192428203718461655146412Calculate the market demand for the good.

Answer»
Pd1d2Market demand = D = d1 + d2
19249 + 24 = 33
28208 + 20 = 28
37187 + 18 = 25
46166 + 16 = 22
55145 + 14 = 19
64124 + 12 = 16