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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 .
When the income elasticity of demand is greater than unity, the commodity is
A)
A luxury
B)
A necessity
C)
An inferior good
D)
A non-related good

Correct Answer : Option (A) - A luxury

Published On : May 20, 2021
2 .
Which among the following targets for 11th Plan (2007-12) is incorrect?
A)
Double per capita income by 2016-17
B)
GDP growth rate to be increased to 10 percent
C)
Farm sector growth to be increased to 6 percent
D)
Literacy rate to be increased to 80%

Correct Answer : Option (C) - Farm sector growth to be increased to 6 percent

Published On : May 20, 2021
3 .
Devaluation of currency will be more beneficial if prices of
A)
domestic goods remain constant
B)
exports become cheaper to importers
C)
exports rise proportionately
D)
imports remain constant

Correct Answer : Option (B) - exports become cheaper to importers

Published On : May 20, 2021
4 .
Which of the following statements is correct about circular economy?
A)
Circulation of national income through all segments of the economy
B)
Working of economy under zero base budgeting
C)
Reusing waste back into the production cycle to produce new products
D)
Giving high priority to informal sector

Correct Answer : Option (C) - Reusing waste back into the production cycle to produce new products

Published On : May 20, 2021
5 .
Which of the following is issued by registered foreign portfolio investors to overseas investors who want to be part of the Indian stock market without registering themselves directly?
A)
Participatory Note
B)
Promissory Note
C)
Commercial Paper
D)
Certificate of Deposit

Correct Answer : Option (A) - Participatory Note

Published On : May 20, 2021
6 .
Who is the fiscal agent and advisor to government in monetary and financial matters?
A)
NABARD
B)
SBI
C)
NITI Ayog
D)
RBI

Correct Answer : Option (D) - RBI

Published On : May 20, 2021
7 .
Estimation of national income in India is done by
A)
Chief Economic Advisor, Gol
B)
Office of Economic Adviser, Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, Gol
C)
Reserve Bank of India
D)
Central Statistics Office, Ministry of Statistics and Programme Implementation, Gol

Correct Answer : Option (D) - Central Statistics Office, Ministry of Statistics and Programme Implementation, Gol

Published On : May 20, 2021
8 .
Planning Commission of India was set up in the year
A)
1949
B)
1950
C)
1951
D)
1957

Correct Answer : Option (B) - 1950

Published On : May 20, 2021
9 .
What is meant by a Bullock Capitalist ?
A)
Farmers who are poor
B)
Farmers who are rich
C)
Farmers who have some resources, but are not rich
D)
Farmers who are big Zamindars

Correct Answer : Option (C) - Farmers who have some resources, but are not rich

Published On : May 20, 2021
10 .
The National Bank for Agriculture and Rural Development is an apex development financial institution in India, headquartered at
A)
Chennai, Tamil Nadu
B)
Pune, Maharashtra
C)
Mumbai, Maharashtra
D)
New Delhi, Delhi

Correct Answer : Option (C) - Mumbai, Maharashtra

Published On : May 20, 2021