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 .
Law of diminishing marginal utility is based on the assumption that
A)
Tastes change over time
B)
Consumption is continuous
C)
Different units of goods consumed are homogeneous
D)
None of the above

Correct Answer :   Tastes change over time

Published On : May 18, 2021
2 .
Price effect in indifference curve analysis arises
A)
When income and price change
B)
When the consumer is betler off due to a change in income and price
C)
When the consumer becomes either better off or worse off because price change is not compensated by income change
D)
None of the above

Correct Answer :   When the consumer becomes either better off or worse off because price change is not compensated by income change

Published On : May 18, 2021
3 .
The kinked demand curve explains
A)
Demand flexibility
B)
Demand rigidity
C)
Price flexibility
D)
Price rigidity

Correct Answer :   Price rigidity

Published On : May 18, 2021
4 .
Deposit Insurance and Credit Guarantee Corporation (DICGC) has been permitted to increase Deposit Insurance Coverage for a depositor, which is now Rs. one lakh to
A)
Rs. 5 lakh per depositor
B)
Rs. 10 lakh per depositor
C)
Rs. 15 lakh per depositor
D)
Rs. 20 lakh per depositor

Correct Answer :   Rs. 5 lakh per depositor

Published On : May 18, 2021
5 .
The Dependency Ratio in India is declining because
A)
Population of 0-14 years is relatively high
B)
Population of 60 years and above is relatively high
C)
Population of 15-59 years is relatively high
D)
Population of 0-14 years and 60 years and above together are relatively high

Correct Answer :   Population of 15-59 years is relatively high

Published On : May 18, 2021
6 .
International Financial Centre, first of its kind in India, is established in which state?
A)
Gujarat
B)
Maharashtra
C)
West Bengal
D)
Tamil Nadu

Correct Answer :   Gujarat

Published On : May 18, 2021
7 .
Which one of the following statements correctly describes the meaning of legal tender money?
A)
The money which is tendered in courts of law to defray the fee of legal cases
B)
The metallic money in circulation in a country
C)
The bank money in the form of cheques, drafts, bills of exchange etc.
D)
The money which a creditor is under compulsion to accept in settlement of his claims

Correct Answer :   The money which a creditor is under compulsion to accept in settlement of his claims

Legal tender is any official medium of payment recognized by law that can be used to extinguish a public or private debt, or meet a financial obligation.

Published On : May 18, 2021
8 .
Which of the following is not included in the assets of a commercial bank in India ?
A)
Advances
B)
Deposits
C)
Investments
D)
Money at call and short notice

Correct Answer :   Deposits

A bank places its funds in assets to earn profits. The assets include investments, loans and advances, money at call and short notice, bills discounted and purchased. It also includes the cash in hand with the banks and also the cash held with the RBI. The liabilities include deposits (both time and demand) and borrowings.

Published On : May 18, 2021
9 .
Payment Banks are not allowed to
A)
Open Saving A/c
B)
Open Current A/c
C)
Advance Loan
D)
Access Deposit

Correct Answer :   Advance Loan

A payments bank is like any other bank, but operating on a smaller scale without involving any credit risk. In simple words, it can carry out most banking operations but can’t advance loans or issue credit cards. It can accept demand deposits (up to Rs 1 lakh), offer remittance services, mobile payments/transfers/purchases and other banking services like ATM/debit cards, net banking and third party fund transfers.

Published On : May 18, 2021
10 .
Which one of the following countries is not a founding member of the New Development Bank?
A)
Brazil
B)
Canada
C)
Russia
D)
India

Correct Answer :   Canada

Published On : May 18, 2021
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