Explore topic-wise InterviewSolutions in Current Affairs.

1. (a) 

2. (b) 

3. (c) 

4. (a) 

5. (b)

1 - (d) 

2 - (c) 

3 - (a) 

4 - (a) 

5 - (b)

Small taxpayers with an aggregate turnover in a financial year up to Rs. One Crore (Rs. 75 lakhs for North-Eastern states, Himachal Pradesh and Sikkim) shall be eligible for composition levy.

Inter-state Sales: Means supplies made between two or more state. 

Intra-state Sales: Means supplies made within a state.

ITC or Input Tax Credit means setting off the amount of input tax paid by the registered dealer against the amount of his output tax liability.

The credit would be permitted to be utilized in the following manner:

(a) ITC of CGST allowed for the payment of CGST and IGST in that order. 

(b) ITC of SGST allowed for the payment of SGST and IGST in that order. 

(c) ITC of IGST allowed for the payment of IGST, CGST and SGST in that order. 

(d) ITC of CGST cannot be used for the payment of SGST and vice-versa.

• Pneumatics is the science and technology of pressurized air—using piped, compressed air (or a similar gas, such as nitrogen) to transmit force and energy. 
• Pneumatic machines, like this hammer drill, are powered by hoses that deliver energy and force in the form of pressurized (compressed) air.

Because of Nile, plenty of food, fodder and uninterrupted supply of water was possible to Egypt. The food security provided sufficient leisure for the growth of civilization. Nile is born in the thick equatorial forests of Africa. It is in full spate throughout the year. But for Nile, Egyptian civilization would not have developed. Therefore Egypt is called the gift of Nile.

The Earth remained in the molten state for many million years and then began to cool. The volcanic activity got reduced considerably. The gradual cooling of the Earth made the outer side to become solid rock, which is called Earth’s Crust. Further cooling made the Earth’s crust to contract resulting in the formation of mountains and valleys. They are like folds and wrinkles appearing on an apple which is left to dry for a few days.

The gases released by Volcanoes created the primordial atmosphere. The crust was still hot and water was in the form of steam. Further cooling condensed the steam to form clouds and then rains began to pour in torrents. This continuous downpour formed lakes, rivers, oceans and seas. The rains and winds eroded the valleys and mountains. The erosion formed rocks to break and form tiny particles of sand and mud. The continuous erosion formed soil and the ocean floor. 

Two Principles of Non-Aligned Movement are: 

1. Mutual non-Aggression. 

2. Peaceful Coexistence.

Count de Cavour was the Chancellor of Victor Emmanuel II and he believed in the policy of war and diplomacy to unite Italy. ;

America, Britain.

The correct answer is (A) and (D).

• The Arab Spring originated in Tunisia and then spread to five other countries i.e Libya, Egypt, Yemen, Syria, and Bahrain.
• It was a wave of pro-democracy protests in MENA (the Middle East and North Africa )in 2010-2011.
• The movement took place from 17th December 2010 to December 2012.
• It was an anti-government protest, uprisings, and armed rebellions that escalated across much of the Arab world.
• The president of Tunisia and Egypt resigned in the wake of protests in early 2011.
• The movement was caused by Inflation, Kleptocracy, Poverty, Monarchy, Human Rights Violation, Authoritarianism, Demographic structural factors, and Sectarianism.
• The Goals of the movement were Democracy, Islamism, free elections, regime change, Economic freedom, Human rights, and Employment.
• The methods adopted during the movement were Civil disobedience, Uprising, Civil resistance, Urban welfare, Strike actions, Defection, Media activism, Insurgency, etc.
• During this movement total of 61,000 deaths were recorded.
• Mohamed Bouazizi burned himself alive to protest his treatment by local officials event was the original catalyst for all other Arab spring movements.

North Atlantic Treaty Organisation members are America, Britain, France, Belgium, Canada, Portugal, Netherlands, Norway and others.

(a) State Legislative Assembly

Estonia, Latvia, Lithuania, Moldova etc.

All Constitutional questions should be heard and decided by a Supreme Court bench of not less than 5 judges.

Feudalism developed in Western Europe. It was restricted to the periods between 5^th and 12^th centuries C.E. The 5^th century marked the fall of Roman Empire and the 12^th century marked the emergence of national Monarchies. Feudalism in general stands for the decentralized system of governance and economy based on land.

The merits of feudalism are: 

1. Feudalism helped the growth of decentralized political administration. The King was not only advised by Vassals, but at times he was forced to accept their terms and conditions. This checked the growth of absolute monarchy.

2. Feudalism helped to preserve monarchy and Monarchs sanctioned fiefs to Vassals, who in turn took an oath of loyalty and co-operation to fight for him.

3. In due course of time, feudalism helped the growth of ‘strong Monarchy’ as the feudal Lords became the courtiers of the Monarchs.

4. No doubt the King and Vassals had personal interests, yet they were united against invasions. This led to national defence and rise of nationalism.

5. The constant conflict helped the growth of military techniques in terms of better arms, training and organization. It encouraged the concept of chivalry. The Nobles and Knights became more mindful towards the poor and needy. Chivalry also developed respect towards women.

6. Feudalism brought stability and order in the society. The collective defence and maintenance of law and order within the feudal estate ensured protection and justice to the people. 

7. Feudalism also developed a sense of duty and order. It was the King’s duty to protect the rights of the Vassals over outlier lands, and that of Vassals to protect their serfs. Likewise the serfs had their duties towards Vassals and Vassals towards Kings.

Demerits of feudalism:

• There were often skirmishes and wars between Vassals or between Vassals and Kings. So there was no stability, peace and order. It had its own impact on society and economy. 
• The vassals always favored nominal Monarchy and were against National Government and National interest. 
• The Nobles were self interested. Their tyranny led to the sufferings of commoners and serfs. Serfs were the victims of violence. Often, war by nobles and war expenses led to the over taxing of common people. 
• The loyalty of the people was restricted to the feudal Lords and not the Nation or King, which was a hindrance to the growth of Nationhood. 
• Feudalism increased the gap between the rich and the poor. The poor led a subsistent life whereas the nobles led a life of leisure and idleness. 
• The Church also participated in feudal system. It had vast lands and worked like feudal Lords. There were also conflicts.between the Bishops and Kings and his Vassals.

1. Too much restriction on individual liberty. 

2. Failure to establish equality among the people. 

3. Excessive importance to defence industry. 

4. Negligence of agriculture. 

5. Iron curtain policy. 

6. Liberal policies introduced by Gorbachev. 

7. Conflicting cultural and ethnic groups. 

In 1799, Napoleon Bonaparte ended the rule of the Directory in France and assumed supreme military command. He provided a stable political system based on personal dictatorship. He reign lasted for fifteen years, from 1799 to 1814.

Early life of Napoleon: Napoleon was born at Ajaccio in the island of Corsica on 15th August 1769. At sixteen, he joined the French army as an Artillery Officer. He was unquestionably a man of extraordinary force of mind and character. He believed that he was a man of destiny. The outbreak of the French Revolution gave him an opportunity to fulfill his ambitions and also channelize his energy.

The Italian campaigns which he led in 1796 made him the most brilliant General of the French Republic. In 1799, he overthrew the corrupt and inefficient Directory Government and established a three member Consulate Government and became the first Consul. He was the man who presided over the destiny of France for the next 15 years. He was virtually a Sovereign.

Napoleon as Emperor of France (1804 – 1814): In 1802, Napoleon’s control over France was total. He aspired to become Consul for life. On December 2nd 1804, Napoleon was coronated as the Emperor of France. He had invited the Pope to give his blessings and also to crown him. But at the last moment he himself placed the crown on his head and later remarked “I found the crown of France lying on the ground and I picked it up with my sword”.

Wars of Napoleon: The Napoleonic Empire lasted for ten years from 1804 to 1814. It was a period of uninterrupted warfare. He had become all powerful in France. Now he desired to become all-powerful in Europe. He had overthrown the three great military states of Europe are Austria, Russia and Prussia. Only Great Britain and Sweden remained to be defeated.

Continental system: Britain was the chief commercial and industrial nation of the world. But invading Britain was impossible as it was the strongest naval power. So Napoleon planned that its commerce and industry must be attacked, by preventing the import of British goods into the continent, which was its chief market. Such a move would ruin British commerce and industry and compel Britain to sue for peace. Towards this end, Napoleon fought an economic war with Great Britain from 1806 to 1814, this economic warfare was known as the “Continental System”.

In 1806, Napoleon proclaimed a decree which provided for closure of all ports on the continent to the British manufactured goods. In retaliation the British Government issued ‘Orders in Council’. The result of this confrontation was that Napoleon would not allow import of British goods into the continent and Britain, in turn, would prevent the sea trade of France and its allies.

For Napoleon it proved physically impossible to enforce the “Continental system” thoroughly. It was difficult to prevent the bribery of customs officials and smuggling. In the course of enforcing the ‘Continental System’, Napoleon was involved in a series of disastrous wars in Europe.

Abdication of Napoleon: In March 1814, Napoleon’s chief enemies – Great Britain, Russia, Austria and Prussia concluded a treaty with the sole aim of overthrowing their arch enemy and they declared war against France. The French resistance was broken within a month and Paris was surrounded on March 31,1814. Napoleon at last abdicated his throne.

In return, the allies offered him Elba, an Island in the Mediterranean. Amid the tears of his soldiers, Napoleon left for Elba. The allies decided to restore the Bourbon dynasty on the throne of France, Louis XVIII, brother of Louis XVI, was offered the crown.

The Hundred Days: For ten months Napoleon was in Elba. On March 1, 1815 he escaped from Elba, and landed with 1,100 men on the South Coast of France. Then he advanced towards Paris. Hearing this news, Louis XVIII fled to Belgium. Napoleon occupied the throne of France and ruled as Emperor from March to June 1815. This episode is known as “The Hundred Days”.

The allies once again pledged to fight against Napoleon to the finish. They declared war on France and finally defeated Napoleon in the battle of Waterloo (1815) in Belgium. This was Napoleon’s sixteenth and final battle. The battle destroyed once for all the last army of the French Emperor. Napoleon abdicated for the second time and was exiled to St. Helena.

Herodotus the Greek Historian is regarded as the father of History.

History means ‘Enquiry’ or Investigation. 

Input tax credit means setting off the amount of input tax by a registered dealer against the amount of his output tax.

Central GST (CGST) is the tax levied by Central Government on intra-State supplies of goods / services in India.

Andy Murray won the gold medal at Rio Olympics 2016 in the men's tennis singles

The Centre would levy and collect the Integrated Goods and Services Tax (IGST). A part of IGST will be transferred to the State/UT, where the goods / services are consumed / supplied.

• The Micro, Small and Medium Enterprises are defined under the MSMED Act 2006.
• The enterprises are classified as Manufacturing and Service enterprises based on the investment in plant and machinery and equipment (excluding land and building).
• Tamil Nadu accounts of 15.07% Micro, Small and Medium Enterprises (MSMEs) in the country (the highest among all States) with 6.89 lakhs registered MSMEs.
• Producing over 8000 varieties of product for a total investment of more than Rs 32,008 crore.
• MSMEs produce a wide variety of products in almost all sectors.
• The prominent among them are the engineering, electrical, chemicals, plastics, steel paper, matches, textiles, hosiery and garments sector.
• Around 15.61 lakh entrepreneurs have registered, providing employment opportunities to about 99.7 lakhs persons with total investment of Rs. 1,68,331 crore.

The correct answer is 7.

• There are 7 Union Territories in India before 2019.
• Jammu and Kashmir was bifurcated into 2 union territories in 2019 those are Jammu and Kashmir, Laddakh.
• At present, there are 28 states and 8 Union territories in the country. 
• On 5 August 2019, the Government of India revoked the special status, or limited autonomy, granted under Article 370 of the Indian Constitution to Jammu and Kashmir.
• UT of Jammu and Kashmir consists of two divisions: Jammu and Kashmir and it is further divided into 20 districts.

• Bifurcation of Jammu and Kashmir was effective from October 31, 2019.
• Lt. Governor & Administrator of Jammu and Kashmir - Shri Manoj Sinha 
• Lt. Governor & Administrator of Laddakh - Shri Radha Krishna Mathur  

Ordinal utility can be measured by Ranking.

Correct answer is

d) All of the above

(c) Marginal

Under Section 194B, winnings from lottery or crossword puzzle or card game andothergameofanysortexceedingRs.10,000arealsosubjecttodeductionof tax at source as per rates in force.

GST is a destination based indirect tax on consumption of goods and services, i.e., the tax would accrue to the taxing authority (State/Union Territory) which has jurisdiction over the place of consumption, which is termed as place of supply.

Internal Economics of Scale: 

1. Internal Economies of scale refers to the advantages enjoyed by the production unit which causes a reduction in the cost of production of the commodity.

2. For example, a firm enjoying the advantage of an application of most modem machinery, generation of internal capital, an improvement in managerial skill etc. are sure to reduce the cost of production. 

They are of various types:

(a) Technical Economies: 

1. When the size of the firm is large, large amount of capital can be used. 

2. There is a possibility to introduce up – to – date technologies this improves productivity of the firm. 

3. Research and development strategies can be applied easily. 

(b) Financial Economies: Big firms can float shares in the market for capital expansion, while small firms cannot easily float shares in the market.

(c) Managerial Economies: Large scale production facilitates specialization and delegation. 

(d) Labour Economies: 

1. Large scale production implies greater and minute division of labour. 

2. This leads to specialization which enhances the quality. 

3. This increases the productivity of the firm. 

(e) Marketing Economies: 

1. In the context of large scale production, the producers can both buy raw-materials in bulk at cheaper cost and can take the products to distant markets.

2. They enjoy a huge bargaining power. 

(f) Economies of survival: 

1. Product diversification is possible when there is large scale production. 

2. This reduces the risk in production. 

3. Even if the market for one product collapses, market for other commodities offsets it.

External Economies of Scale:

1. External Economies of Scale refer to changes in any factor outside the firm causing an improvement in the production process. 

2. This can take place in the case of industry also. 

3. These are the advantages enjoyed by all the firms in industry due to the structural growth.

4. Important external economies of scale are listed below : 

• Increased transport facilities 
• Banking facilities 
• Development of townships 
• Development of information and communication.

The nature of deduction under 80GG is for the house rent paid in the previous year for his accommodation (furnished or unfurnished) on a condition that he or his spouse or any minor child or HUF of which he is a member does not own any house at the place of as sesses work or dwelling.

In the northern home, sphere winds deflect towards right due to the conolis effect and the southward movement of the sun.

Correct option: b) Finished, Finished

The correct answer is Norman Joseph Woodland.

• The first Barcode system was developed by Norman Joseph Woodland.
  • The barcode was invented by Norman Joseph Woodland and Bernard Silver and patented in the US in 1951.
  • The invention was based on Morse code that was extended to thin and thick bars.
  • Barcode contains information about a product like-
    •  price & weight of the product, date of manufacturing and expiry, name of the manufacturer.
  • Barcode is allocated by an international institution set up for this purpose.
  • Every product has a unique barcode all over the world.

• On June 26, 1974, the UPC barcode was used for the first time in Troy, Ohio, at Marsh Supermarket.
  • The first product that was scanned with the new barcode was a pack of Wrigley's Juicy Fruit chewing gum.
  • The choice of a pack of gum as the first product to be scanned wasn't just by chance. 
•  A barcode scanner will read this pattern of black and white bars and translate them into a line of test that your retail point of sale system can understand.
• Barcodes are applied to products as a means of quick identification.
• They are used in retail stores as part of the purchase process, in warehouses to track inventory, and on invoices to assist in accounting, among many other uses.

Economics nature:

1. The nature of a subject refers to its contents and how and why they find a place in the subject. 

2. This nature is understood by studying the various definitions given by the notable economists. 

3. The existence of multiplicity of the definitions makes some scholars comment that a search for a clear definition of economics is an exercise in futility. 

4. “Political economy is said to have strangled itself with definitions.” 

5. Their presence makes studying a subject interesting, exciting, enjoyable or worthwhile.

6. In fact their presence in a social science subject is a clear sign of the growth of the science. 

7. It indicates that there exists freedom for people associated with such as science to formulate fresh definitions.

Scope of economics:

1. The scope of the subject of economics refers to on the subject matter of economics. 

2. It throws light on whether it is an art or science and if science, whether it is a positive science or a normative science. 

Economics subject matter: 

1. Economics focuses on the behaviour and interactions among economic agents, individuals and group belonging to an economic system. 

2. Economics studies the ways in which people use the available resources to satisfy their multiplicity of wants. 

3. The activities of rational or normal human beings are the subject-matter of economics.

Cost of Sales is derived by adding selling and distribution overheads to the cost of goods sold.

The correct answer is Dhebar Lake in Rajasthan.

• Dhebar Lake in Rajasthan is the second largest artificial lake in Asia.
  • Dhebar Lake is India's second-largest artificial lake, after Govind Ballabh Pant Sagar.
  • It is located in the Udaipur District of Rajasthan State in western India. 
  • Jaisamand Lake is also known by the name of Dhebar Lake.
  • Dhebar Lake, built by Maharana Jai Singh in 1685, covers an area of 36 square miles.

• Chandubi Lake in Assam :
  • Chandubi Lake is a natural lake located in Rabha Hasong Autonomous Council, Kamrup District, Assam at a distance of 64 kilometers.
    • From the city of Guwahati accessible through National Highway 37.
  • The lake is located at the foot of Garo hills surrounded by Assam and Meghalaya.
• Chilika Lake in Odisha :
  • Chilika is the largest brackish water estuarine Lake in Asia.
  • It sprawls over an area of 1100 sq km.
  • Covering parts of three districts of Odisha i.e Puri on the East, Khurda on the North, and Ganjam on the South.
  • It is the largest coastal lagoon in India and the second largest lagoon in the World.
  • The Lake is a highly productive ecosystem, with rich fishery resources.
• Kolleru Lake in Andhra Pradesh :
  • Kolleru Lake is one of the largest freshwater lakes in India located in the state of Andhra Pradesh.
  • It forms the largest shallow freshwater lake in Asia, 15 kilometers away from the Eluru and 65km from Rajamahendravaram.
  •  it is located between Krishna and Godavari deltas.

Thulavarsham

Degrees of Price Discrimination: Price discrimination has become widespread in almost all monopoly markets. According to A.C.Pigou, there are three degrees of price discrimination.

(I) First degree price discrimination: A monopolist charges the maximum price that a buyer is willing to pay. This is called as perfect price discrimination. This price wipes out the entire consumer’s surplus. This is maximum exploitation of consumers. Joan Robinson named it as “Perfect Discriminating Monopoly”. 

(II) Second degree price discrimination: Under this degree, buyers are charged prices in such a way that a part of their consumer’s surplus is taken away by the sellers. This is called as imperfect price discrimination. Joan Robinson named it as “Imperfect Discriminating Monopoly”.

Under this degree, buyers are divided into different groups and a different price is charged for each group. 

For example, in cinema theatres, prices are charged for same film show from viewers of different classes. In a theatre the difference between the first row of first class and the last row in the second class is smaller as compared to the differences in charges..

(III) Third degree price discrimination: The monopolist splits the entire market into a few sub – market and charges different price in each sub – market. The groups are divided on the basis of age, sex and location.

For example, railways charge lower fares from senior citizens. Students get discounts in museums, and exhibitions.

c) Prime cost and Factory overheads

Factory Cost is the summation of Prime cost and Factory overheads.

Degrees of Price Discrimination: Price discrimination has become widespread in almost all monopoly markets. According to A.C.Pigou, there are three degrees of price discrimination.

(I) First degree price discrimination: A monopolist charges the maximum price that a buyer is willing to pay. This is called as perfect price discrimination. This price wipes out the entire consumer’s surplus. This is maximum exploitation of consumers. Joan Robinson named it as “Perfect Discriminating Monopoly”.

(II) Second degree price discrimination: Under this degree, buyers are charged prices in such a way that a part of their consumer’s surplus is taken away by the sellers. This is called as imperfect price discrimination. Joan Robinson named it as “Imperfect Discriminating Monopoly”.

Under this degree, buyers are divided into different groups and a different price is charged for each group. 

For example, in cinema theatres, prices are charged for same film show from viewers of different classes. In a theatre the difference between the first row of first class and the last row in the second class is smaller as compared to the differences in charges.

(III) Third degree price discrimination: The monopolist splits the entire market into a few sub – market and charges different price in each sub – market. The groups are divided on the basis of age, sex and location. 

For example, railways charge lower fares from senior citizens. Students get discounts in museums, and exhibitions.

Correct option: c) Prime cost and work overheads

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.

1. Rainfall is maximum along the windward slopes of the mountains. Thus the western side of the Western Ghats, the eastern highlands, and rain.

2. As the amount of moisture decreases with the advancement of Arabian Sea branch and Bay of Bengal branch, the amount of rainfall decreases from the coast towards the interior. 

3. The eastern slopes of the Western Ghats is rain shadow region.

i) Kerala, Northeastern states 

ii) Rajasthan, Interior of Decan and the earth of the sahadris. 

iii) Physiography, Distance from the sea