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 .
Other things remaining the same, when a consumer's income increases, his equilibrium point moves to
A)
A lower indifference curve
B)
A higher indifference curve
C)
Remains unchanged on the same indifference curve
D)
Remains unchanged on the same indifference curve

Correct Answer :   Remains unchanged on the same indifference curve

Published On : May 18, 2021
2 .
A situation where there is only one buyer is called
A)
Perfect competition
B)
Monopsony
C)
Monopoly
D)
Oligopoly

Correct Answer :   Monopsony

Published On : May 18, 2021
3 .
Imperfect competition was introduced by
A)
Chamberlin
B)
Marshall
C)
Keynes
D)
None of the above

Correct Answer :   Chamberlin

Published On : May 18, 2021
4 .
MDR is a free charged from a merchant by a bank for accepting payments from customers through credit and debit cards in their establishments. MDR stands for
A)
Merchant Discount Ratio
B)
Merchant Discount Rate
C)
Merchant Discount Rating
D)
Merchant Development Rate

Correct Answer :   Merchant Discount Rate

Published On : May 18, 2021
5 .
Which of the following is a Nodal Institution for implementation of Sustainable Development Goals in India?
A)
Planning Commission
B)
Disinvestment Commission
C)
NITI Aayog
D)
Finance Commission

Correct Answer :   NITI Aayog

Published On : May 18, 2021
6 .
The Global Livability Index has been released by
A)
Economist Intelligence Unit (EIU)
B)
World Health Organization (WHO)
C)
World Economic Forum (WEF)
D)
International Monetary Fund (IMF)

Correct Answer :   Economist Intelligence Unit (EIU)

Published On : May 18, 2021
7 .
If a commodity is provided free to the public by the Government, then
A)
the opportunity cost is zero
B)
the opportunity cost is ignored
C)
the opportunity cost is transferred from the consumers of the product to the tax-paying public
D)
the opportunity cost is transferred from the consumers of the product to the Government

Correct Answer :   the opportunity cost is transferred from the consumers of the product to the tax-paying public

Opportunity cost is the cost of choosing one alternative over another and missing the benefit offered by the forgone opportunity, investing or otherwise.

Published On : May 18, 2021
8 .
A 'closed economy' is an economy in which
A)
the money supply is fully controlled
B)
deficit financing takes place
C)
only exports take place
D)
neither exports nor imports take place

Correct Answer :   neither exports nor imports take place

Published On : May 18, 2021
9 .
The biggest center of Software and Business Process Outsourcing Industries is established in U.P. in which of the following cities?
A)
Meerut
B)
Kanpur
C)
Varanasi
D)
Noida

Correct Answer :   Noida

Published On : May 18, 2021
10 .
Which of the following is not a component of Foreign Direct Investment?
A)
Equity Capital
B)
Portfolio Investment
C)
Reinvested earnings
D)
Intra company loans

Correct Answer :   Portfolio Investment

Published On : May 18, 2021
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