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. |
Mention any two type of price discrimination? |
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Answer» 1. Personal: Different prices are charged for different individuals. For example, the railways give tickets at concessional rate to the ‘Senior citizens’ for the same journey. 2. Geographical: Different prices are charged at different places for the same product. For example, a book sold within India at a price is sold in a foreign countiy at lower price. |
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| 2. |
Assertion(A): Cost sheet is a statement that presents the total and per unit cost of production with regard to any cost unit or cost centre for a specific period of time.Reason(R): Cost sheet is also a managerial tool for cost manager to judge the efficiency of production. a) Both A and R are correct and R is the correct explanation of A.b) A is correct but R is incorrect c) A is incorrect but R is correct d) Both A and R are incorrect |
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Answer» Correct option: a) Both A and R are correct and R is the correct explanation of A. |
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| 3. |
Assertion(A): Prime cost, work cost, office cost and total cost are components of cost sheet. Reason(R): Cost sheet tells about quality and labour efficiency of the production.a) Both A and R are correct and R is the correct explanation of A. b) Both A and R are incorrect but R is the correct explanation of A. c) A is correct but R is incorrect d) A is incorrect but R is correct |
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Answer» Correct option: c) A is correct but R is incorrect |
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| 4. |
What is western disturbance? Write its benefit. |
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Answer» During the cold-weather season of India, low pressure systems develop over the Mediterranean sea and travel towards east under the influence of jet streams and enter India. This causes winter rainfall in North plains, especially in Punjab. This is known as western disturbance. This is most suitable for the cultivation of rabi crops like wheat and barley. |
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| 5. |
Name the season during which the climatic phenomenon called western disturbance occur and explains the formation. |
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| 6. |
otal revenue is equal to total output sold multiplied by ………(a) Price (b) Total cost (c) Marginal revenue (d) Marginal cost |
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Answer» Total revenue is equal to total output sold multiplied by Price. |
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| 7. |
Explain ‘October heat’. |
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Answer» The northeast monsoon season is a transition period between rainy season and the forthcoming winter season. This season experienced in the months of October and November makes the days unbearable due to high temperature and humidity. The high temperature and humidity experienced all over India during this time make the daytime very uncomfortable or sultry. This phenomenon is called October heat. |
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| 8. |
Depreciation on plant is: a) Prime Cost b) Factory overheads c) Distribution overheads d) Office overheads |
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Answer» Correct option: b) Factory overheads |
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| 9. |
Density of population is rural areas are ………(a) Very high (b) Very low (c) Moderate (d) Constant |
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Answer» (b) Very low |
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| 10. |
What is western disturbance? Write its benefit. Or Write the reason for the winter rainfall in Punjab region. What is the agricultural importance of this rainfall? |
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Answer» During the cold-weather season of India, cyclones originating in the Mediterranean sea shift towards east under the influence of jet streams and enter India. This causes winter rainfall in North plains, especially in Punjab. This is known as western disturbance. This is much beneficial for the cultivation of rabi crops like wheat and barley. |
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| 11. |
Which group of minerals represents non-ferrous metals?1. Nickel, Zinc, Copper, Aluminium2. Nickel, Aluminium, Iron ore, Zinc3. Copper, Pig iron, Nickel, Steel4. Nickel, Carbon Steel, Aluminium, Zinc |
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Answer» Correct Answer - Option 1 : Nickel, Zinc, Copper, Aluminium The Correct Answer is Nickel, Zinc, Copper, Aluminium.
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| 12. |
There is no opportunity cost in ………(a) Floating cost (b) Prime cost (c) Sunk cost (d) social cost |
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Answer» (c) Sunk cost |
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| 13. |
Explain the theory of “consumer’s surplus”? |
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Answer» Alfred Marshall defines consumer’s surplus as “the excess of price which a person would be willing to pay a thing rather than go without the thing, over that which he actually does pay is the economic measure of this surplus satisfaction. This may be called consumers surplus”. |
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| 14. |
The main reason for the occurrence of winter rainfall in Punjab region. Northeast monsoon wind Cyclones originating in the Mediterranean sea shift towards east Cyclone originating in the Arabia Sea. |
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Answer» Cyclones originating in the Mediterranean sea shift towards east. |
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| 15. |
In which of the following states is Hazira port located ?1. Maharashtra2. Andhra Pradesh3. Kerala4. Gujarat |
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Answer» Correct Answer - Option 4 : Gujarat The correct answer is Gujarat.
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| 16. |
What is the name of Mark Zuckerberg's artificial intelligence imbued butler who now even plays with his family?Which film inspired Mark Zukerberg to take on this personal project to which he devoted around 100 hours ? |
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Answer» Jarvis is the Mark Zuckerberg's artificial intelligence imbued butler who now even plays with his family. The "Iron Man" film inspired Mark Zukerberg to take on this personal project to which he devoted around 100 hours. |
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| 17. |
Define opportunity cost and provide an example? |
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Answer» 1. Opportunity cost refers to the cost of next best alternative use. In other words, it is the value of the next best alternative foregone. 2. For example, a farmer can cultivate both paddy and sugarcane in a farm land. 3. If he cultivates paddy, the opportunity cost of paddy output is the amount of sugarcane output given up. 4. Opportunity Cost is also called as “Alternative Cost” or Transfer cost. |
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| 18. |
The capital of Lakshadweep Port Blair Kavaratti Indira Point |
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Answer» Kavaratti Kavaratti is the capital of Lakshadweep. |
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| 19. |
Mention the causes for Rural poverty? |
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Answer» Causes for Rural Poverty: 1. Unequal distribution of Land: The distribution of land is highly skewed in rural areas. Therefore, majority of rural people work as hired labour to support their families. 2. Lack of Non – Farm Employment: Non – farm employment opportunities do not match the increasing labour force. The excess supply of labour in rural areas reduces the wages and increases the incidence of poverty. 3. Lack of public sector Investment: The root cause of rural poverty in our country is lack of public sector investment on human resource development. 4. Inflation: Steady increase in prices affects the purchasing power of the rural poor leading to rural poverty. 5. Low productivity: Low productivity of rural labour and farm activities is a cause as well as the effect of poverty. 6. Unequal Benefit of Growth: Major gains of economic development are enjoyed by the urban rich people leading to concentration of wealth. Due to defective economic structure and policies, gains of growth are not reaching the poor and the contributions of poor people are not accounted properly. 7. Low Rate of Economic Growth: The rate of growth of India is always below the target and it has benefited the rich. The poor are always denied of the benefits of the achieved growth and development of the country. 8. More Emphasis on Large Industries: Huge investment in large industries catering to the needs of middle and upper classes in urban areas are made in India. Such industries are capitalintensive and do not generate more employment opportunities. Therefore, poor are not in a position to get employed and to come out from the poverty in villages. 9. Social evils: Social evils prevalent in the society like custom, beliefs, etc., increase unproductive expenditure. |
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| 20. |
Write a short note on Marginal Revenue? |
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Answer» 1. Marginal Revenue [MR] is the addition to the total revenue by the sale of an additional unit of a commodity. 2. MR can be found out by dividing change in total revenue by the change in quantity sold out. 3. MR = ∆TR/∆Q where MR denotes Marginal Revenue, ∆TR denotes change in Total Revenue and ∆Q denotes change in total quantity. 4. The other method of estimating MR is: MR = TRn – TRn-1 (or) TRn+1 – TRn Where, MR denotes Marginal Revenue, TRn denotes total revenue of nth item TRn-1 , denotes Total Revenue of n – 1th item and TRn+1 denotes Total Revenue of n + 1th item If TR = PQ , MR = dTR/dQ = P, which is equal to AR. |
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| 21. |
When is World Cancer Day celebrated?A. 4 FebruaryB. 5 MarchC. 12 MayD. 23 August1. D2. C3. A4. B |
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Answer» Correct Answer - Option 3 : A The correct answer is A.
Some important days of February are -
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| 22. |
Give the definition for ‘Real Cost’ ? |
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Answer» Real Cost refers to the payment made to compensate the efforts and sacrifices of all factor owners for their services in production. Real Cost includes the efforts and sacrifices of landlords in the use of land, capitalists to save and invest, and workers in foregoing, leisure. Real cost are considered pains and sacrifices of labour as real cost of production. |
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| 23. |
Name the range that runs parallel to the rocky mountains in North America? |
| Answer» Sierra Nevada | |
| 24. |
The Ujjayanta Palace is located in:1. Shillong2. Kohima3. Guwahati4. Agartala |
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Answer» Correct Answer - Option 4 : Agartala The correct answer is Agartala.
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| 25. |
Define disinvestment? |
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Answer» Disinvestment means selling of government securities of Public Sector Undertakings [PSUs] to other PSUs or Private Sectors or banks. This process has not been fully implemented. |
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| 26. |
This tower, located in Italy, has 294 steps inside it. |
| Answer» Tower of Pisa is located in Italy, has 294 steps inside it. | |
| 27. |
Kaliadeh Palace is situated on the banks of which river?1. Shipra2. Narmada3. Ken4. Chambal |
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Answer» Correct Answer - Option 1 : Shipra The correct answer is Shipra.
Shipra
Narmada river
Ken
Chambal
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| 28. |
The command Ctrl + M is applied for ………(a) Saving (b) Copying (c) Getting new slide (d) Deleting a slide |
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Answer» (c) Getting new slide |
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| 29. |
Give the definition for “Real cost”? |
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Answer» Real Cost refers to the payment made to compensate the efforts and sacrifices of all factor owners for their services in production. Real Cost includes the efforts and sacrifices of landlords in the use of land, capitalists to save and invest, and workers in foregoing leisure. Real cost are considered pains and sacrifices of labour as real cost of production. |
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| 30. |
On the banks of which river is the port of London situated? |
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Answer» The port of London situated on the banks of the River Thames from the capital to the North Sea. |
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| 31. |
Define Labour? |
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Answer» 1. Labour is the active factor of production. 2. In common parlance, labour means manual labour or unskilled work. But in Economics the term ‘labour’ has a wider meaning. 3. It refers to any work undertaken for securing an income or reward. Such work may be manual or intellectual. For example, the work done by an agricultural worker or a cook dr rickshaw puller or a mason is manual. 4. The work of a doctor or teacher or an engineer is intellectual. 5. In short, labour in economics refers to any type of work performed by a labourer for earning an income. |
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| 32. |
Classify the factors of production? |
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Answer» 1. Land 2. Labour 3. Capital and 4. Organisation 1. Land: In Economics, land means all gifts of Nature owned and controlled by human beings which yield an income. 2. Labour: Labour means manual labour or unskilled work. 3. Capital: “Capital consists of all kinds of wealth other than free gifts of nature, which yield income”. Bohm – Bawerk defines it as ‘a produced means of production’. 4. Organisation: The man behind organizing the business is called as ‘Organizer’ or ‘Entrepreneur’. |
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| 33. |
HDI was constructed based on ………….. (a) Life expectancy index (b) Education index (c) GDP per capita (d) All the above |
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Answer» (d) All the above |
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| 34. |
What is the difference between HDI and PQLI? |
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| 35. |
New Zealand is located in the Oceania continent so why we count 7 continent, why we don't count 8 continent? |
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Answer» Oceanica is a region located in South Pacific, which consists of sub-regions of Melanesia, Micronesia, Polynesia.and Australasia including countries Australia, New Zealand, Fiji, etc. The primary continental landmass of Oceania is Australia. Oceania consists of 14 countries ( UN Members ), 2 not UN Member Countries and 27 other territories. |
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| 36. |
The PQLI was developed by …………(a) Planning Commission (b) Nehru (c) Morris (d) Morrisd.Biswajeet |
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Answer» The PQLI was developed by Morris . |
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| 37. |
The poem 'Go, Get Education' was written by: 1. Sarojini Naidu2. Jyotiba Phule3. Savitribai Phule4. Swami Vivekanand |
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Answer» Correct Answer - Option 3 : Savitribai Phule The correct answer is Savitribai Phule.
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| 38. |
Which of the following Birds is the State Bird of Andaman and Nicobar?1. White-winged duck2. Great Hornbill3. Great Indian bustard4. Wood Pigeon |
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Answer» Correct Answer - Option 4 : Wood Pigeon The Correct Answer is Wood Pigeon.
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| 39. |
Which of the following is the State Animal of Andaman and Nicobar?1. Dugong2. Indian rhinoceros3. Sangai4. Red panda |
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Answer» Correct Answer - Option 1 : Dugong The Correct Answer is Dugong.
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| 40. |
Kandariya Temple is located at______.1. Mandu2. Khajuraho3. Maheshwar4. Omkareshwar |
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Answer» Correct Answer - Option 2 : Khajuraho The Correct Answer is Khajuraho.
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| 41. |
There are how many islands in Andaman and Nicobar?1. 5722. 5753. 5744. 576 |
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Answer» Correct Answer - Option 1 : 572 The Correct Answer is 572.
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| 42. |
There are how many districts in Andaman and Nicobar?1. 22. 63. 34. 5 |
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Answer» Correct Answer - Option 3 : 3 The Correct Answer is 3.
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| 43. |
Regarded as one of the most intelligent statesmen during his times. The later Mughal dynasty was virtually at his mercy. The Maratha power was at its peak during his times. His link with a dancer is a subject of a forthcoming proposed Sanjay Leela Bhansali movie. Passed away, when he could not hear the defeat of his army and death of his sons in a battle, which could have turned the course of Indian History. Who is this person? |
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Answer» Peshwa Baji Rao II |
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| 44. |
Whose signature is found on a Rs One currency note?(a) President of India(b) Union Finance Secretary(c) Governor, Reserve Bank of India(d) Union Finance Minister |
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Answer» Union Finance Secretary signature is found on a Rs One currency note. |
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| 45. |
which state is called the Rice bowl of India? |
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Answer» Andhra Pradesh is historically called the “Rice Bowl of India”, although the same term is also used for Chhattisgarh. |
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| 46. |
whose signature is on the 100 rupee note? |
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Answer» One Hundred Rupee bears the Reserve Bank of India Governor's Signature. |
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| 47. |
Who demarcated the line that was to divide India and Pakistan? |
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Answer» Sir Cyril Radcliffe |
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| 48. |
The McMahan Line is a boundary between (a) India and China (b) India and Pakistan(c) India and Bangladesh (d) India and Nepal |
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Answer» (a) India and China |
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| 49. |
Match List I with List II and select the correct answer List I List II 1. Nilgiri i. Sagarmatha 2. Satpura ii. Mt. Abu 3. Aravalli iii. Dhupgarh 4. Himalaya iv. Doddabetta1. 1 - iii, 2 - iv, 3 - i, 4 - ii2. 1 - i, 2 - ii, 3 - iii, 4 - iv3. 1 - iv, 2 - iii, 3 - ii, 4 - i4. 1 - iii, 2 - iv, 3 - ii, 4 - i |
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Answer» Correct Answer - Option 3 : 1 - iv, 2 - iii, 3 - ii, 4 - i The correct answer is 1 - iv, 2 - iii, 3 - ii, 4 - i.
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| 50. |
Who demarcated the boundary line between India and Pakistan? (a) Lord Curzon (b) Lord Canning (c) Cyril Radcliffe (d) Stafford Cripps |
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Answer» (c) Cyril Radcliffe |
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