Explore topic-wise InterviewSolutions in Current Affairs.

This section includes 7 InterviewSolutions, each offering curated multiple-choice questions to sharpen your Current Affairs knowledge and support exam preparation. Choose a topic below to get started.

1.

“Agriculture sector appears to be adversely affected by the economic reform process.” Explain the given statement.

Answer»

The agricultural sector was adversely affected by the reform process in the following manner- 

(i) Public investment in agriculture sector especially in infrastructure like irrigation, power etc. has been reduced in the reform period 

(ii) Reduction of fertilizer subsidy has increased the cost of production affecting thereby the small and marginal farmers 

(iii) Increased international competitiveness due to liberalisation and reduction of import duties. 

(iv) Shift from food crops to cash crops due to export-oriented policy in agriculture led to a rise in prices of food-grains.

2.

Which of the following is not a principal question of ontology?1. What can be said to exist?2. What is a thing?3. Into what categories, if any, can we sort existing things?4. What is the nature of knowledge?

Answer» Correct Answer - Option 4 : What is the nature of knowledge?

The correct answer is What is the nature of knowledge?

  • Ontology:

    • Ontology is the philosophical study of being.
    • It is a branch of metaphysics dealing with the nature of being.
    • The word realism is related to ontology because realism means the attitude or practice of accepting a situation as it is and being prepared to deal with it.
  • Following is a principal question of ontology:
    • ​What can be said to exist?
    • What is a thing? ​
    • Into what categories, if any, can we sort existing things?
3.

At present how many industries are reserved for public sector in India? Which are they?

Answer»

3 industries. They are: 

1. Atomic energy 

2. Minerals enlisted under schedule of atomic energy. 

3. Rail transport.

4.

The headquarters of UNESCO is located at:a) Washington b) Paris c) Italy d) None of These

Answer»

The headquarters of UNESCO is located at Paris.

5.

What is BPO?

Answer»

BPO stands for Business Process Outsourcing.

6.

Point out major factor responsible for the high growth of service sector?

Answer»

The growth rate of service sector was very high in India compared to other sectors. After adopting new economic policy, the growth rate was 8.2%. The liberalisation and privatisation policy are responsible for the fast growth rate in service sector.

7.

Find the odd one out. SBI, Punjab National Bank, Andhra Bank, Union Bank of India.

Answer»

Andhra Bank. Others are national banks.

8.

What does foreign direct investment mean?

Answer»

if refers to investment directly undertaken by the foreign companies and nationals in various sectors of the economy.

9.

The industrial sector has performed poorly during reform period’. Justify.

Answer»

The industrial sector has performed poorly in the re-form period due to the following reasons : 

1. The shortage of electricity and raw materials affect the quality of goods produced. 

2. NEP has seriously affected local industrial production.

10.

What are the causes of globalisation?

Answer»

The major causes of globalisation are given below: 

1. rapid growth of research and development. 

2. Improvement in communication facilities. 

3. deregulation of money market. 

4. removal of artificial barriers.

11.

Give examples for Nationalized bank, Private bank and Private Foreign Bank.

Answer»

Nationalized banks 

  • Bank of Baroda 
  • Union bank of India 
  • Punjab National bank 

Private banks 

  • Andhra Bank 
  • Oriental Bank of Commerce 
  • Punjab and Sindh Bank Private 

Foreign Banks 

  • Deutsche Bank 
  • HSBC
12.

“Agricultural sector appears to be adversely affected by the reform process” do you agree? Give reasons.

Answer»

Yes, Agricultural sector appears to be adversely affected by the reform process. The agricultural sector has not been able to be benefited by the reform process, rather the growth rate has decelerated. Public investment in agriculture sector has been reduced during the reform period. Further, the removal of fertilizer subsidy severely affected the mall and marginal farmers. 

Due to commencement of WTO a lot of policies have changed which have adversely affected the Indian farmers. Moreover, because of export oriented policy in agriculture, there has been a shift from production for the domestic market towards production for export market focusing on cash crops instead of food grains. This has resulted in the price rise of food grains. In short India’s agricultural sector is badly affected by the reform process.

13.

“New Economic Policy of 1991 was an inevitable phenomenon”. Do you agree? Justify.

Answer»

Yes, I agree. India at the time of independence, adopted a mixed economy framework and accordingly rules and laws were framed which aimed at controlling and regulating the economy. However, in the long run, theses ended up hampering the process of growth and development. 

In 1991 India faced an acute economic crisis relating to external debt. The government was not able to make repayments on its borrowings from abroad. Foreign exchange reserves dropped at such a level that it was not sufficient for even a fortnight. Prices of essential goods were rising high. All these factors led to the need for reforms to be introduced in India.

14.

Match the following columnsABGATT1991Economic reforms1995WTO1948

Answer»
AB
GATT1948
Economic reforms1991
WTO1995
15.

State true or false 1. WTO was found in 1995 as successor organisation of G#TT. 2. India signed NEP in 1991.

Answer»

1. WTO was found in 1995 as successor organisation of G#TT- True. 

2. India signed NEP in 1991- True.

16.

Do you think that “navaratna policy” of the government helps in improving the performance of Public Sector undertakings in India? Substantiate.

Answer»

In 1996, in order to improve efficiency, infuse professionalism and enable them to compete more effectively in the liberalized global environment, the government chose nine PSUs and declared them as nava-ratnas.

They were given greater managerial and operational autonomy, in taking various decisions to run the company efficiently and thus increase their profits. Greater operational, financial and managerial autonomy had also been granted to 97 other profit-making enterprises referred to as mini-ratnas.

17.

Prepare a note on WTO.

Answer»

The WTO was founded in 1995 as the successor organization to the General Agreement on Trade and Tari (GATT). GATT was established in 1948 with 23 countries as the global trade organization to administer all multilateral trade agreements by providing equal opportunities to all countries in the international market for trading purposes. 

WTO is expected to establish a rule based trading regime in which nations cannot place arbitrary restrictions on trade. In addition, its purpose is also to enlarge production and trade of services, to ensure optimum utilization of world resources and to protect the environment. 

The WTO agreements cover-trade in goods as well as services to facilitate international trade (bilateral and multilateral) through removal of tariff as well as non-tariff barriers and providing greater market access to all member countries.

18.

Prepare a note on privatisation of Indian economy?

Answer»

Privatisation means removing strict control over private sector and making them free to take necessary decisions. Since independence, we accorded top priority to the public sector but the desired results could not be achieved with the encouragement of the public sector. Now the new economic policy tries to expand private sector. In order to encourage private sector following measures have been adopted. Measures to encourage Private Sector in the economy are the following 

1. Reduction in the number of reserved public sector industries. The number of Public Sector industries from 17 to 4.

2. Increasing the share of private sector investment. 

3. Selling the share of public enterprises.

4. No insistance on conversion. Now the financial corporation can not insist the industries for conversion of their loans into equity shares. 

The government has also made attempts to improve the efficiency of PSUs by giving them autonomy in taking managerial decisions.

19.

Mention the challenges faced by unorganised sector workers.

Answer»
  • Labourers of unorganised sector migrate in search for work. 
  • They have no social security such as housing, health benefits, water, food or equal opportunity to work, 
  • Unorganised sector workers are not covered by legal provisions. 
  • They are paid less than minimum wage act. 
  • Child labour is rampant in unorganised sector. It forsters child labour. 
  • Unorganised sector labourers face physical and mental exploitation of men, women and children. Women and children are subjected to sexual exploitation.
20.

Do you think outsourcing is good for India?

Answer»

Outsourcing is one of the important outcomes of the globalization process. In outsourcing, a company hires regular services from external sources, mostly from other countries, which was previously provided internally or from within the country (like legal advice, computer service, advertisement, security each provided by respective departments of the company). 

As a form of economic activity, outsourcing has intensified, in recent times, because of the growth of fast modes of communication, particularly the growth of Information Technology (IT). Most multinational corporations, and even small companies, are outsourcing their services to India where they can be availed at a cheaper cost with reasonable degree of skill and accuracy. 

The low wage rates and availability of skilled manpower in India have made it a destination for global outsourcing in the post-reform period. Thus I think in this reform period outsourcing is good for India.

21.

Opportunity cost in the:A. Number of units sacrificedB. Number of units gainedC. Cost of next best alternative foregoneD. None of these.

Answer» Correct Answer - C
C. A benefit, profit, or value of something that must be given up to acquire or achieve something else. Since every resource (land, money, time, etc.) can be put to alternative uses, every action, choice, or decision has an associated opportunity cost.
22.

What will be the LCM of 8, 24, 36 and 54 ?1. 2162. 1083. 544. 432

Answer» Correct Answer - Option 1 : 216

Given:

8, 24, 36, 54

Concept Used:

Least common multiple(LCM): The least number which is exactly divisible by each of the given numbers is called the least common multiple of those numbers.

Calculation:

8 = 2 × 2 × 2 = 23

24 = 2 × 2 × 2 × 3 = 23 × 31

36 = 2 × 2 × 3 × 3 = 22 × 32

54 = 2 × 3 × 3 × 3 = 21 × 33

Least common multiple of 8, 24, 36, 54 = 23 × 33 = 8 × 27

⇒ 216

∴ LCM of 8, 24, 36, 54 is 216

23.

The state govt. has sanctioned acertain amount to increase production in rural areas. Which technique of production will you suggest to the state govt. for this project?

Answer»

Labour intensive technique of production.

24.

Match the following domain name extensions with their respective definitions.1) .gov    A) Government agencies2) .org    B) Network organisations3) .edu   C) Non-profit organisations4) .net    D) Educational organisations 1. 1 - A, 2 - D, 3 - C, 4 - B 2. 1 - D, 2 - C, 3 - A, 4 - B 3. 1 - C, 2 - A, 3 - D, 4 - B 4. 1 - A, 2 - C, 3 - D, 4 - B

Answer» Correct Answer - Option 4 : 1 - A, 2 - C, 3 - D, 4 - B 

The correct answer is 1 - A, 2 - C, 3 - D, 4 - B.

  • The gov domain is administered by the General Services Administration (GSA), an independent agency of the United States federal government.
  • The org domain extension stands for “organization” and is most commonly used for nonprofit organizations.
  • The domain name edu is a sponsored top-level domain (sTLD) in the Domain Name System of the Internet.
  • .net (pronounced dot net) is a framework that provides a programming guidelines that can be used to develop a wide range of applications.
25.

Discuss demand and supply for health

Answer»

This fact suggests two alternate strategies for controlling the costs of health care: demand-side cost sharing, where patients must pay more in co-payments or deductibles, and supply-side cost sharing, which seeks to alter the incentives of health care workers to provide certain services.

26.

A basic economic problem is that there is oil shortage in INDIA. What measures do you suggest to mee t the growing demand of oil?

Answer»

Measures taken are : 

1) oil is limited so it should be efficiently and fully(optimum use)used.

2)Massive awareness on shortage of oil and people should be encouraged to use public transport system.

27.

Number of employees in a factory decreases in the ratio of `8:7` and salary of employees increase in the ratio of ` 5:6`. Find whether the total salary given to the employees is increased or decreased and in what ratio ?A. `19:20`, increasedB. `20:19`, decreasedC. `19:21`, increasedD. `21:20`, decreased

Answer» Correct Answer - D
Let total number of employes in begining `=8K` and total number of employes in present `=7K`
Let salary of an employes in beginning `=51` and salary of an employes in present `=61`
`therefore` Total salary in beginning
`=8Kxx5l=40 Kl`
Required ratio `=40KI:42KI`
`20:21`
Clearly, salary is increased.
28.

Effects of health demand and supply

Answer»

The gap between supply and demand not only contributes to a delay in meeting patients' needs, but it can also be expensive and generate waste in the system. The experience of many health care organizations demonstrates that demand is not really insatiable, but actually predictable.

29.

A teacher has job from two school ABC offers a salary of Rs. 14,000 and school PQR offers a salary Rs. 18,000. If the teacher at present draws a salary of Rs. 20,000 in school MNO, what will be opportunity cost?

Answer» Present salary of a teacher in school MNO = Rs. 20,000
Two other alternatives (options to work) are :
School ABC which offers salary = Rs. 14,000
School PQR which offers salary = Rs. 18,000
Therefore,
Next best alternatives to school MNO = Rs. 18,000 (salary offered by school PQR).
30.

Which element of hydroelectric power plant prevents the penstock from water hammer phenomenon?A. Valves and GatesB. Draft tubesC. SpillwayD. Surge Tank

Answer» Correct Answer - D
31.

PPF is concave to the origin because of:A. Increasing MRTB. Diminishing MRTC. Constant MRTD. None of these.

Answer» Correct Answer - A
A. PPC is concave to the point of origin because to produce each additional unit of Good 1, more units of Good 2 will have to be sacrificed. Opportunity cost of producing every additional unit of Good 1 tends to increase in terms of the loss of production of Good 2. Production will act upon the law of increasing marginal opportunity cost.
32.

Dam having very wide base as compared to its height is called ____A. buttress damB. arch damC. earth damD. solid gravity dam

Answer» Correct Answer - C
33.

Ramesh is working at a salary of Rs. 35,000 per month. He receives two job offers: (i) To work as an accountant at a salary of Rs. 30,000 per month,(ii) To work as a sales manager at a salary of Rs.25,000 per month. In the given case, his opportunity cost will be:A. Rs. 25,000B. Rs.30,000C. Rs. 35,000D. Rs. 65,000

Answer» Correct Answer - B
B. A benefit, profit, or value of something that must be given up to acquire or achieve something else. Since every resource (land, money, time, etc.) can be put to alternative uses, every action, choice, or decision has an associated opportunity cost.So, the best alternative forgone by Ramesh is his salary as an accountant of Rs. 30,000.
34.

How credit/debit cards contribute for sustainable development?

Answer»

Helps in saving paper, cashless society so transport cost decrease.

35.

Penstock in a hydroelectric power plant is ___________A. a pipe connected to runner outletB. nozzle that release high pressure water on turbine bladesC. a conduit connecting forebay to scroll case of turbineD. a pipe connecting surge tank to dam

Answer» Correct Answer - C
36.

What is meant by trade? What is the difference between international and local trade?

Answer»

Business activity between two or more parties is called trade. The trade within the country is called local trade or domestic trade. The trade between two countries is called international trade.

37.

What are example of Savanna and monsoon climate?A. Pkistan, India & East AfricaB. Pakistan & GermanyC. Middle East & PakistanD. California & Pakistan

Answer» Correct Answer - A
38.

Why are the means of transportation and communication called the lifelines of a nation and its economy?

Answer»

Means of transport provide seamless movement of goods and people and thus facilitate various economic activities. Means of communication help in flow of information which is necessary for proper management of supply chain and financial transactions. Thus, means of transport and communication put life into a nation and its economy. Hence, they are called the lifelines of a nation and its economy.

39.

Hot desert remains dry all year, so crop growing is impossible withoutA. CultivationB. IrrigationC. Rotation of cropsD. Less water availability

Answer» Correct Answer - B
40.

The most important strategy for the conservation of biodiverstity together with traditional human life is the establishment ofA. botanical gardentsB. biosphere reservesC. wildlife sanctuariesD. national parks

Answer» Correct Answer - D
41.

While climate is colder version of cool temperate?A. MonsoonB. SavannaC. EquatorialD. Tundra

Answer» Correct Answer - D
42.

Where is Raisin Hills? (a) Where Rashtrapati Bhavan is situated (b) The Hill feature in Srinagar otherwise known as Shankarachaiya Hill (c) The place where the Dogra rulers of J & K built their fort in Jammu. (d) The rock feature at Kanyakumari where Swami Vivekananda’s statue waserect

Answer»

(a) Where Rashtrapati Bhavan is situated

43.

Mudumalai Scantuary is famous forA. ElephantsB. bisonsC. TigersD. Birds

Answer» Correct Answer - C
44.

Which of the following passes lies in the Sutlej valley ? (a) Nathu La (b) Jelep La (c) Shipki La (d) Sherabathanga 

Answer»

Shipki La passes lies in the Sutlej valley.

45.

Mudumalai Sanctuary famous for elephants and deer is situated in (a) Assam (b) Gujarat (c) Tamil Nadu (d) Karnataka

Answer»

Mudumalai Sanctuary famous for elephants and deer is situated in  Tamil Nadu.

46.

Where is Khyber Pass situated? (a) Bhutan (b) Bangladesh (c) India (d) Pakistan

Answer»

Pakistan is Khyber Pass situated.

47.

Where is the Black Pogoda? (a) Konark (b) Khajuraho (c) Madurai (d) Egypt

Answer»

Konark is the Black Pogoda.

48.

Which of the following do not have a common boundary with Bangladesh? (a) Meghalaya (b) Mizoram (c) Tripura (d) Arunachal Pradesh

Answer»

(d) Arunachal Pradesh

49.

What is the most important geographic use of the Himalayas to India? (a) Prevention of invasions (b) Valuable source of timber (c) They prevent the monsoons from crossing to the north and also serve as a reservoir of water from which our perennial rivers flow(d) They protect India from the icy cold north winds

Answer»

(c) They prevent the monsoons from crossing to the north and also serve as a reservoir of water from which our perennial rivers flow

50.

What is the most important geographic use of the Himalayas to India? (a) Prevention of invasions (b) Valuable source of timber (c) They prevent the monsoons from crossing to the north and also serve as a reservoir of water from which our perennial rivers flow (d) They protect India from the icy cold north winds

Answer»

(c) They prevent the monsoons from crossing to the north and also serve as a reservoir of water from which our perennial rivers flow