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General Knowledge(GK) (or) General Awareness

Welcome to the General Knowledge Section of Free Time Learning. As we are aware General Knowledge (GK) is a very important area in all the competitive exams held in the country. Nowadays, a good knowledge of general awareness is very important in clearing any competitive and government recruitment examinations.

These General Knowledge Question are very important and usefull to UPSC, IAS/PCS, UPPSC, IBPS, SBI, RBI, SSC, CGL, Railway, APPSC, TSPSC, KPSC, TNPSC, TPSC, UPPSC, MPSC, RPSC, BPSC, MPPSC, UKPSC, MPSC, and other competitive exams.

1 .
Decrease or fall in the price of commodity leads to increase in demand because of
A)
Income effect i.e. Consumer becomes better off
B)
Substitution effect i.e. Relatively cheaper than related goods
C)
Both (a) and (b)
D)
None of the above

Correct Answer :   Both (a) and (b)

Published On : May 21, 2021
2 .
Consumer reaches a saturation point for a product when MU is
A)
Zero
B)
Positive
C)
Negative
D)
None of the above

Correct Answer :   Zero

Published On : May 21, 2021
3 .
Which of the following statement is true
A)
In inferior goods, the income and substitution effects are positive
B)
In interior goods, the income and substitution effects are negative
C)
In case of inferior good, the income effect is negative, although the substitution effect is positive
D)
In case of inferior goods, the income effect is positive although the substitution effect is negative

Correct Answer :   In case of inferior good, the income effect is negative, although the substitution effect is positive

Published On : May 21, 2021
4 .
Imperfect competition arises when
A)
There are unexplainable imperfections in the market
B)
Product variation, ignorance of consumers and distance and transport costs lead to imperfections in the competitive market which operates on certain assumptions
C)
There is imperfect rivalry among competitors
D)
Competition does not exist

Correct Answer :   Product variation, ignorance of consumers and distance and transport costs lead to imperfections in the competitive market which operates on certain assumptions

Published On : May 21, 2021
5 .
Which of the following is an assumption of the model of perfect competition?
A)
Perfect mobility of factors of production
B)
No government regulation
C)
Product homogeneity
D)
All of the above

Correct Answer :   All of the above

Published On : May 21, 2021
6 .
Long-term fiscal policy was announced by which Finance Minister of India?
A)
V. P. Singh
B)
P. Chidambaram
C)
Dr. Manmohan Singh
D)
Yashwant Sinha

Correct Answer :   V. P. Singh

Published On : May 21, 2021
7 .
Individuals invest in insurance policy for
A)
Risk Protection only
B)
Easy liquidity
C)
Low Returns
D)
Tax Benefit and Risk Protection

Correct Answer :   Tax Benefit and Risk Protection

Published On : May 21, 2021
8 .
Which of the following bank has launched Banking Robot Laximi?
A)
City union Bank
B)
HDFC Bank
C)
AXIS Bank
D)
AXIS Bank

Correct Answer :   City Union Bank

Published On : May 21, 2021
9 .
The annual investment limit under the public provident fund (PPF) scheme
A)
Rs. 1,00,000
B)
Rs. 1,50,000
C)
Rs. 2,25,000
D)
Rs. 2,50,000

Correct Answer :   Rs. 1,50,000

Published On : May 21, 2021
10 .
A leading bank in India has recently (July 2016) launched a social media banking platform for its facebook and twitter users which goes by the name of ‘Mingle’. Name the Bank
A)
Bank of Baroda
B)
Yes Bank
C)
State Bank of India
D)
Punjab National Bank

Correct Answer :   State Bank of India

Published On : May 21, 2021