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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 .
Which of the following is the correct statement regarding the new Open Acreage Licensing Policy for Oil and Gas Exploration?
A)
It allows bidders to carve out areas where they want to drill
B)
It prohibits licensing policy for oil exploration
C)
It allows oil and gas exploration
D)
It prohibits licensing policy for gas exploration

Correct Answer : Option (A) - It allows bidders to carve out areas where they want to drill

Published On : May 19, 2021
2 .
Where is the headquarters of Credit Saison India, which has received a non-banking financial company (NBFC) licence from the Reserve Bank of India?
A)
New Delhi
B)
Kolkata
C)
Bengaluru
D)
Patna

Correct Answer : Option (C) - Bengaluru

Published On : May 19, 2021
3 .
Cartels is a form of
A)
Monopoly
B)
Collusive oligopoly
C)
Non-Collusive oligopoly
D)
None of the above

Correct Answer : Option (B) - Collusive oligopoly

Published On : May 19, 2021
4 .
Demand Analysis includes :
A)
Demand Forecasting
B)
Demand Differentials
C)
Demand Determinations
D)
All of the above

Correct Answer : Option (D) - All of the above

Published On : May 19, 2021
5 .
Efficient allocation of resources is achieved to greatest extent under
A)
Monopoly
B)
Oligopoly
C)
Perfect competition
D)
Monopolistic competition

Correct Answer : Option (C) - Perfect competition

Published On : May 19, 2021
6 .
At elasticity of one, marginal revenue is equal to
A)
zero
B)
zero
C)
infinity
D)
none

Correct Answer : Option (B) - zero

Published On : May 19, 2021
7 .
Market with one buyer and one seller is called
A)
Bilateral Monopoly
B)
Monopsony
C)
Monopoly
D)
None of the above

Correct Answer : Option (A) - Bilateral Monopoly

Published On : May 19, 2021
8 .
Which of the following Prime Ministers of India, is regarded as the Father of Economic Reforms?
A)
Rajiv Gandhi
B)
P. V. Narshimha Rao
C)
Atal Bihari Vajpayee
D)
Manmohan Singh

Correct Answer : Option (B) - P. V. Narshimha Rao

Era of LPG (Liberalisation, Privatisation and Globalisation) was started in India in 1992, during the Prime Minister ship of P.V. Narsimha Rao. Dr. Manmohan Singh was the Finance Minister at that time.

Published On : May 19, 2021
9 .
Disguised unemployment generally means
A)
Large number of people remain unemployed
B)
Alternative employment is not available
C)
Marginal productivity of labour is zero
D)
Productivity of workers is low

Correct Answer : Option (C) - Marginal productivity of labour is zero

Disguised unemployment, means that more people are engaged in a job which can be done with less people, normally seen in agriculture where whole family is involved.

Published On : May 19, 2021
10 .
Who issues the Special Drawing Rights (SDR) in the following?
A)
Asian Development Bank
B)
International Monetary Fund
C)
World Trade Organization
D)
World Bank

Correct Answer : Option (B) - International Monetary Fund

The International Monetary Fund issues paper currency or SDR (Special Drawing Right) to member countries.

Published On : May 19, 2021