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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 .
Priority Sector Lending by banks in India constitutes the lending to
A)
Agriculture
B)
Micro and small enterprises
C)
Weaker sections
D)
All of the above

Correct Answer :   All of the above

Banks have to lend minimum of 40% to priority sector which includes all of the given sectors.

Published On : May 19, 2021
2 .
Housing Finance Companies in India are under the regulatory framework of
A)
National Housing Bank
B)
Reserve Bank of India
C)
Securities and Exchange Board of India
D)
Ministry of Finance

Correct Answer :   Reserve Bank of India

Published On : May 19, 2021
3 .
Indexation is a method whose use can be associated with which one of the following?
A)
Controlling inflation
B)
Nominal GDP estimation
C)
Measurement of savings rate
D)
Fixing of wage compensation

Correct Answer :   Fixing of wage compensation

Published On : May 19, 2021
4 .
What do you mean by Demographic Dividend?
A)
A rise in the rate of economic growth due to a higher share of working age people in a population
B)
A rise in the rate of literacy due to development of educational institution in different parts of the country
C)
A rise in the standard of living of the people due to the growth of alternative livelihood practices
D)
A rise in the gross employment ratio of a country due to government policies

Correct Answer :   A rise in the rate of economic growth due to a higher share of working age people in a population

Published On : May 19, 2021
5 .
The total sum of the goods and services produced in a country in a year minus depreciation is called
A)
Gross Domestic Product
B)
Gross National Product
C)
Gross National Income
D)
Net Domestic Product

Correct Answer :   Net Domestic Product

Published On : May 19, 2021
6 .
Under perfect competition, price of the product
A)
Can be controlled
B)
Cannot be controlled
C)
Can be controlled within certain limit
D)
None of the above

Correct Answer :   Cannot be controlled

Published On : May 19, 2021
7 .
Which economist stated the positive impact of monopoly?
A)
Pigou
B)
Marshall
C)
Adam Smith
D)
Joseph Schumpeter

Correct Answer :   Joseph Schumpeter

Published On : May 19, 2021
8 .
In the calculation of elasticity, there is error in case of
A)
Arc elasticity
B)
Point elasticity
C)
Both (a) and (b)
D)
None of the above

Correct Answer :   Arc elasticity

Published On : May 19, 2021
9 .
Average revenue is calculated by
A)
P x Q
B)
TR / Q
C)
TR / MR
D)
TRn - TRn-1

Correct Answer :   TR / Q

Published On : May 19, 2021
10 .
Price elasticity of demand provides
A)
Technical change in the value
B)
A technical change in the cost of product
C)
A technical change in the goodwill of the firm
D)
A measure of the responsiveness of the quantity demanded to changes in the price of the product, holding constant the values of all other variables in the demand function

Correct Answer :   A measure of the responsiveness of the quantity demanded to changes in the price of the product, holding constant the values of all other variables in the demand function

Published On : May 19, 2021