Q:

A market situation when firms sell similar but not identical products is termed as

A) perfect competition	B) imperfect competition
C) monopolistic competition	D) oligopoly

Answer & Explanation Answer: C) monopolistic competition

Explanation:

Monopolistic competition is a type of imperfect competition such that many producers sell products that are differentiated from one another (e.g. by branding or quality) and hence are not perfect substitutes.

In other words, large sellers selling the products that are similar, but not identical and compete with each other on other factors besides price.

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Filed Under: Indian Economy
Exam Prep: Bank Exams

0 23482

Q:

Statement I :

Portions of glacial troughs may exhibit remarkably flat floors.

Statement II :

The flat floor in a glacial trough is produced by uniform glacial erosion.

A) Both the statements are individually true and Statement II is the correct explanation of Statement I	B) Both the statements are individually true but Statement II is not the correct explanation of Statement I
C) Statement I is true but Statement II is false	D) Statement I is false but Statement II is true

Answer & Explanation Answer: A) Both the statements are individually true and Statement II is the correct explanation of Statement I

Explanation:

Glaciers cut distinctive U-shaped valleys with a flat floor and steep sides. These are an example of a glacial erosion landform.

Example: As the main glacier erodes deeper into the valley, the tributary is left higher up the steep sides of the glacier.

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Filed Under: General Science
Exam Prep: Bank Exams

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Q:

Terrestrial life-forms require ____________ water for life processes.

A) fresh	B) saline
C) salt	D) sour

Answer & Explanation Answer: A) fresh

Explanation:

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Filed Under: General Science
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Q:

Along with ‘Right to Life’ in Article 21 of Indian Constitution, it also includes ______.

A) Right to Health	B) Right to Food
C) Right to Water	D) All options are correct

Answer & Explanation Answer: D) All options are correct

Explanation:

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Filed Under: Indian Politics
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Q:

The British Governor General and Viceroy who served for the longest period in India was

A) Lord Curzon	B) Lord Lrwin
C) Lord Dalhousie	D) Lord Linlithgow

Answer & Explanation Answer: D) Lord Linlithgow

Explanation:

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Filed Under: Indian History

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Q:

Who is the head of the committee formed to commemorate the 75 years of India's independence?

A) President	B) External Affairs Minister
C) Home Minister	D) Prime Minister

Answer & Explanation Answer: D) Prime Minister

Explanation:

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Filed Under: Indian Politics
Exam Prep: Bank Exams

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Q:

Match the characteristics with their market structure:

(a) MR = MP
(b) Elasticity of demand depends on pricing policies of rivals

A) (a) Pure Monopoly, (b) Monopolistic competition	B) (a) Pure competition, (b) Oligopoly
C) (a) Pure competition, (b) Pure Monopoly	D) (a) Pure Monopoly, (b) Oligopoly

Answer & Explanation Answer: B) (a) Pure competition, (b) Oligopoly

Explanation:

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Filed Under: Indian Economy
Exam Prep: Bank Exams

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Q:

Which Part of Indian Constitution deals with Centre-State financial relations?

A) Part X	B) Part VIII
C) Part XII	D) Part XX

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