General Knowledge Questions

Q:

Which is the most important factor that determines whether advertising by manufacturing sector will lead to higher sales?

A) Demand is elastic B) Demand is inelastic
C) The product can be differentiated D) The product can be homogenous.
 
Answer & Explanation Answer: C) The product can be differentiated

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Q:

On 26 July 2017, the Parliament passed the Collection of Statistics (Amendment) Bill, 2017. The Bill aims at amending the ______.

 

A) Collection of statistics Act, 2008 B) Collection of statistics Act, 2015
C) Collection of statistics Act, 2010 D) Collection of statistics Act, 2012
 
Answer & Explanation Answer: A) Collection of statistics Act, 2008

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Q:

ZIKA virus which causes neurological birth disorders is transmitted by

A) Rat bites B) Mosquito bites
C) Snake bites D) Monkey bites
 
Answer & Explanation Answer: B) Mosquito bites

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Q:

If quantity of a good demanded increases from 200 to 250 then the average income of the population increases from Rs 20,000 to Rs 30,000, find Arc Income elasticity of demand?

A) 1.45 B) 0.55
C) 2 D)  1.25
 
Answer & Explanation Answer: B) 0.55

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Q:

Which one of the following is not an assumption in the law of demand?

A) There are no changes in the taste and preferences of consumers B) Income of consumers remains constant
C) Consumers are affected by demonstration effect D) There are no changes in the price of substitute goods.
 
Answer & Explanation Answer: C) Consumers are affected by demonstration effect

Explanation:

There are certain assumptions underlying the law of demand, which are as follows:

i. Assumes that the consumer’s income remains same

ii. Assumes that the preferences of consumer remain same.

iii. Considers that the fashion does not show any changes, because if fashion changes, then people would not purchase the products that are out of fashion.

iv. Assumes that there would be no change in the age structure, size, and sex ratio of population. This is because if population size increases, then the number of buyers increases, which, in turn, affect the demand for a product directly.

v. Restricts the innovation and new varieties of products in the market, which can affect the demand for the existing product.

vi. Restricts changes in the distribution of income.

vii. Avoids any type of change fiscal policies of the government of a nation, which reduces the effect of taxation on the demand of product.

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Q:

Which of the following Prime Ministers was awarded Bharat Ratna?

A) V.P.Singh B) Morarji Desai
C) Charan Singh D) Manmohan Singh
 
Answer & Explanation Answer: B) Morarji Desai

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Q:

In the following question, out of the four alternatives, select the alternative which will improve the bracketed part of the sentence. In case no improvement is needed, select "no improvement".

 

In the post-liberalisation era, urbanisation (has being taking) place at a rapid pace.

 

A) has been taking   B) has been took  
C) had been took   D) no improvement
 
Answer & Explanation Answer: A) has been taking  

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Q:

Which is the correct inverted sequence (last to first) of Mughal Emperors who ruled the Indian Subcontinent?

 

A) Akbar, Shah Jahan, Aurangzeb, Bahadur Shah II B) Aurangzeb, Bahadur Shah II, Shah Jahan, Akbar
C) Bahadur Shah II, Aurangzeb, Shah Jahan, Akbar D) Akbar, Aurangzeb, Shah Jahan, Bahadur Shah II
 
Answer & Explanation Answer: C) Bahadur Shah II, Aurangzeb, Shah Jahan, Akbar

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