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QUESTION 1.
Consider the following statements about census in our country.
a) 1 only
b) 2 only
c) Both
d) None
Correct Answer: B
Your Answer: A
Explanation
Solution (b)
The Indian Census is the largest single source of a variety of statistical information on different
characteristics of the people of India. With a history of more than 130 years, this reliable, time tested
exercise has been bringing out a veritable wealth of statistics every 10 years, beginning from 1872 when
the first census was conducted in India non-synchronously in different parts.
The first census was conducted in India in 1872 (by Lord Mayo), but regular census started in 1881.
The population of British India was first collected through a census in 1881.
The responsibility of conducting the decennial Census rests with the Office of the Registrar General and
Census Commissioner under Ministry of Home Affairs
Source:
LIST A LIST B
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a) 1 and 4
b) 2 and 4
c) 1 and 3
d) 4 only
Correct Answer: B
Your Answer: B
Explanation
Solution (b)
QUESTION 3.
Introduction of Railways by British is considered as one of their most important contributions. Consider the
below statements in regard to it:
a) 2 and 3
b) 2, 3 and 4
c) 1, 2 and 3
d) All of the above
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Correct Answer: C
Your Answer: B
Explanation
Solution (c)
Introduction of railways resulted in some social benefits to the people of India but not economic benefits.
However, the social benefits, which the Indian people gained owing to the introduction of the railways, were
outweighed by the country’s huge economic loss.
QUESTION 4.
Demography of a place is dependent on which of the following factors:
3. Migration
a) 1 and 2
b) 2 and 3
c) 1 and 3
d) All of the above
Correct Answer: D
Your Answer: D
Explanation
Solution (d)
There are three components of population change – births, deaths and migration. The crude birth rate
(CBR) is expressed as number of live births in a year per thousand of population.
Death rate plays an active role in population change. Population growth occurs not only by increasing births
rate but also due to decreasing death rate. Crude Death Rate (CDR) is a simple method of measuring
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mortality of any area. CDR is expressed in terms of number of deaths in a particular year per thousand of
population in a particular region. By and large mortality rates are affected by the region’s demographic
structure, social advancement and levels of its economic development.
Apart from birth and death there is another way by which the population size changes. When people move
from one place to another, the place they move from is called the Place of Origin and the place they move
to is called the Place of Destination. The place of origin shows a decrease in population while the
population increases in the place of destination. Migration may be interpreted as a spontaneous effort to
achieve a better balance between population and resources.
QUESTION 5.
Which of the following are push factors of migration?
1. Health/education facilities
2. Unemployment
3. Water shortage
4. War
a) 1,2 and 3
b) 2,3 and 4
c) 1,3 and 4
d) All of the above
Correct Answer: B
Your Answer: D
Explanation
Solution (b)
The Push factors make the place of origin seem less attractive for reasons like unemployment, poor living
conditions, political turmoil, unpleasant climate, natural disasters, epidemics and socio-economic
backwardness.
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The Pull factors make the place of destination seem more attractive than the place of origin for reasons like
better job opportunities and living conditions, peace and stability, security of life and property and pleasant
climate.
QUESTION 6.
Consider the below statements in regard to Planning in India:
1. Planning in India derives its objectives and social premises from the Directive Principles of State Policy
enshrined in the Constitution.
2. Five Year Planning concept in India was borrowed from the former Soviet Union, the pioneer in national
planning.
Choose the correct code:
a) Only 1 is correct
b) Only 2 is correct
c) Both are correct
d) Neither 1 nor 2 is correct
Correct Answer: C
Your Answer: C
Explanation
Solution (c)
QUESTION 7.
India could not develop a sound industrial base under the colonial rule because of:
2. India was reduced to the status of a mere exporter of important raw materials
3. India was turned into a sprawling market for the finished products
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a) 2, 3 and 5
b) 2, 3, 4 and 5
c) 1, 2, 3 and 5
d) All of the above
Correct Answer: D
Your Answer: C
Explanation
Solution (d)
All the given statements are correct due to which India could not develop a sound industrial base under the
colonial rule.
QUESTION 8.
The National Institution for Transforming India (NITI Aayog ) came into existence by a government
resolution dated January 1, 2015 replacing the existing Planning Commission which was established by a
resolution dated March 15, 1950. NITI Aayog outlines which of the following objectives:
a) 1 and 2 only
b) 1 and 3 only
c) 2 and 3 only
d) All of the above
Correct Answer: B
Your Answer: B
Explanation
Solution (b)
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Note: Since Planning Commission is replace by NITI Aayog , we have framed this question to introduce
you to the objectives of NITI Aayog . Refer the below source and read about NITI Aayog .
NITI Aayog outlines “bottom-to-top” approach. I.e. objective is to develop mechanisms to formulate credible
plans at the village level and aggregate these progressively at higher levels of government. ( not the
“top-to-bottom” approach which was the objective of Planning Commission)
Source: Refer The new name of planning - The Hindu or India Year Book, 2016 (Planning
chapter)
QUESTION 9.
In India, Child sex ratio includes which of the following age group?
a) 0-12 years
b) 0-6 years
c) 0-5 years
d) 0-1 year
Correct Answer: B
Your Answer: B
Explanation
Solution (b)
Indirect Question - Sex Ratio has been discussed in Class XII Human Geography, Demography.
According to 2011 census, the child sex ratio of India is 919/1000. This is a matter of concern as this is the
lowest child sex ratio in the history of India.
QUESTION 10.
Consider the following statements with respect to Genetic Engineering Appraisal Committee (GEAC)
2. It is the apex body for approval of activities involving large scale use of hazardous microorganisms and
recombinants
3. It is responsible for approval of proposals relating to release of genetically engineered organisms and
products into the environment including experimental field trials
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a) 1 and 2
b) 1 and 3
c) 2 and 3
d) All of the above
Correct Answer: C
Your Answer: B
Explanation
Solution (c)
Genetic Engineering Appraisal Committee (GEAC) established under Ministry of Environment and
Forests and Climate Change ( MoEFCC ) is the apex body to accord notified under Rules 1989.
For approval of activities involving large scale use of hazardous microorganisms and recombinants in
research and industrial production from the environmental angle
The GEAC is also responsible for approval of proposals relating to release of genetically engineered
organisms and products into the environment including experimental field trials (Biosafety Research Level
trial-I and II known as BRL-I and BRL-II)
Source - http://www.dnaindia.com/india/report-geac-eases-norms-for-field-trials-of-gm-crops-2254175
QUESTION 11.
The Tea Board of India has sought the Centre’s approval for modifying an insurance scheme meant for
workers in small tea gardens. Consider the following statements
2. Tea Board of India is under the Ministry of Consumer Affairs, Food and Public Distribution
a) 1 and 2
b) Only 3
c) 2 and 3
d) 1 and 3
Correct Answer: B
Your Answer: C
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Explanation
Solution (b)
Tea is one of the industries, which by an Act of Parliament comes under the control of the Union Govt. The
genesis of the Tea Board India dates back to 1903 when the Indian Tea Cess Bill was passed. The Bill
provided for levying a cess on tea exports - the proceeds of which were to be used for the promotion of
Indian tea both within and outside India. The present Tea Board set up under section 4 of the Tea Act 1953
was constituted on 1st April 1954. It has succeeded the Central Tea Board and the Indian Tea Licensing
Committee which functioned respectively under the Central Tea Board Act, 1949 and the Indian Tea
Control Act, 1938 which were repealed. The activities of the two previous bodies had been confined largely
to regulation of tea cultivation and export of tea as required by the International Tea Agreement then in
force, and promotion of tea Consumption.
Organisation of the Board: The present Tea Board is functioning as a statutory body of the Central
Government under the Ministry of Commerce. The Board is constituted of 31 members (including
Chairman) drawn from Members of Parliament, tea producers, tea traders, tea brokers, consumers, and
representatives of Governments from the principal tea producing states, and trade unions .The Board is
reconstituted every three years.
Source -
http://www.thehindu.com/business/Industry/tea-board-seeks-nod-for-insurance-scheme/article9094804.ece
QUESTION 12.
Consider the following statements:
a) 1 and 2
b) 2 and 3
c) 1 and 3
d) All of the above
Correct Answer: A
Your Answer: A
Explanation
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Solution (a)
Both growth and development refer to changes over a period of time. The difference is that growth is
quantitative and value neutral. It may have a positive or a negative sign. This means that the change may
be either positive (showing an increase) or negative (indicating a decrease).
Development means a qualitative change which is always value positive. This means that development
cannot take place unless there is an increment or addition to the existing conditions. Development occurs
when positive growth takes place. Yet, positive growth does not always lead to development. Development
occurs when there is a positive change in quality.
For example, if the population of a city grows from one lakh to two lakhs over a period of time, we say the
city has grown. However, if a facility like housing, provision of basic services and other characteristics
remain the same, then this growth has not been accompanied by development.
QUESTION 13.
Which of the following are basic tenets of Planning in India?
1. Growth
2. Modernization
3. Self reliance
4. Social justice
Choose the right option:
a) 1, 2 and 3
b) 1 and 3
c) 1, 3 and 4
d) All of the above
Correct Answer: D
Your Answer: A
Explanation
Solution (d)
Adoption of new technology is called modernisation . However, modernisation does not refer only to the
use of new technology but also to changes in social outlook such as the recognition that women should
have the same rights as men.
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Using its own resources is called self-reliance. A nation can promote economic growth and modernisation
by using its own resources or by using resources imported from other nations. The first seven five year
plans gave importance to self-reliance which means avoiding imports of those goods which could be
produced in India itself. This policy was considered a necessity in order to reduce our dependence on
foreign countries, especially for food.
QUESTION 14.
Match List I with List II and select the correct answer by using the codes given below the lists:
List I List II
a) 1-5-3-4-2
b) 1-2-5-3-4
c) 2-1-4-3-5
d) 2-1-5-4-3
Correct Answer: C
Your Answer: C
Explanation
Solution (c)
Second FYP led to establishment of a socialistic pattern of society in India and also emphasized on rapid
industrialization and development of basic and heavy industries.
Source:
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Which of the following indicators are included to rank a country in Human Development Index (HDI)?
1. Health
2. Education
3. Sex ratio
4. Living Standard
a) 1,2 and 3
b) 2,3 and 4
c) 1,2 and 4
d) All of the above
Correct Answer: C
Your Answer: C
Explanation
Solution (c)
The HDI was created to emphasize that people and their capabilities should be the ultimate criteria for
assessing the development of a country, not economic growth alone. The HDI can also be used to question
national policy choices, asking how two countries with the same level of GNI per capita can end up with
different human development outcomes. These contrasts can stimulate debate about government policy
priorities.
The Human Development Index (HDI) is a summary measure of average achievement in key dimensions of
human development: a long and healthy life, being knowledgeable and have a decent standard of living.
The HDI is the geometric mean of normalized indices for each of the three dimensions.
The health dimension is assessed by life expectancy at birth, the education dimension is measured by
mean of years of schooling for adults aged 25 years and more and expected years of schooling for children
of school entering age. The standard of living dimension is measured by gross national income per capita.
The HDI uses the logarithm of income, to reflect the diminishing importance of income with increasing GNI.
The scores for the three HDI dimension indices are then aggregated into a composite index using
geometric mean.
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http://hdr.undp.org/en/content/human-development-index-hdi#
QUESTION 16.
Consider the following statements about river Cauvery
a) Only 1
b) Only 2
c) Both 1 and 2
d) None of the above
Correct Answer: B
Your Answer: B
Explanation
Solution (b)
Kaveri /Cauvery flows in Karnataka and Tamil Nadu. The river covers a distance of about 765 km and flows
through the state of Karnataka and Tamil Nadu. On its journey to the Bay of Bengal, the river is joined by
its tributaries, which include Shimsa , Hemavathi , Honnuhole , Arkavathi , Kapila , Lakshmana Theertha ,
Kabini , Lokapavani , Bhavani , Noyil and Amaravathy .
QUESTION 17.
The Eighth Five-Year Plan could not take off and there were annual plans due to
a) 1 only
b) 2 only
c) 1, 2 and 3 only
d) All of the above
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Correct Answer: A
Your Answer: B
Explanation
Solution (a)
The Eighth Five-Year Plan (1990-95) could not take off due to the fast-changing political situation at the
Centre. The Eighth five-Year Plan commence in 1992 and that 1990-91 and 1991-92 were treated as
separate Annual Plans. Formulated within the framework of the Approach to the Eighth Five-Year Plan
(1990-95), the basic thrust of these Annual Plans was on maximization of employment and social
transformation.
The situation created by the Indo-Pakistan conflict in 1965, two successive years of severe drought,
devaluation of the currency, general rise in prices and erosion of resources available for Plan purposes
delayed the finalization of the Fourth Five Year Plan. Instead, between 1966 and 1969, three Annual Plans
were formulated within the framework of the draft outline of the Fourth Plan.
Source:
1. Economic globalisation involves long-distance flows of goods, services and capital and the information
and perceptions that accompany market exchange.
2. Globalisation is the outcome of the policies of liberalisation and privatisation . Globalism is a
phenomenon with ancient roots.
3. “Globalization” is the process by which globalism becomes increasingly thick/intense.
Choose the correct code:
a) 1 and 2 only
b) 2 and 3 only
c) 2 only
d) All of the above
Correct Answer: B
Your Answer: A
Explanation
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Solution (b)
Economic globalism involves long-distance flows of goods, services and capital and the information and
perceptions that accompany market exchange.
Source:
a) C Rangarajan Committee
b) Alagh Committee
c) Lakdawala committee
d) Tendulkar Committee
Correct Answer: A
Your Answer: A
Explanation
Solution (a)
This question is included to check the general awareness. Poverty related topics are mentioned in the
block.
According to the YK Alagh Committee’s recommendation in 1979, the people consuming less than 2100
calories in the urban areas or less than 2400 calories in the rural areas are poor. The logic behind the
discrimination between rural and urban areas was that the rural people do more physical work. Moreover,
an implicit assumption was that the states would take care of the health and education of the people. Thus,
YK Alagh eventually defined the first poverty line in India.
Till as recently as 2005, the official poverty lines were based entirely on the recommendations of the
Lakdawala Committee of 1993 . This poverty line was set such that anyone above them would be able to
afford 2400 and 2100 calories worth of consumption in rural and urban areas respectively in addition to
clothing and shelter. These calorie consumptions were derived from YK Alagh committee only. There were
several differences between Alagh and Lakdawala . Since it is outdated, they won’t be asked.
In 2005, Suresh Tendulkar committee was constituted by the Planning Commission. This committee
recommended to shift away from the calorie based model and made the poverty line somewhat broad
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based by considering monthly spending on education, health, electricity and transport also.
· It strongly recommended target nutritional outcomes i.e. instead of calories; intake nutrition support should
be counted.
· It suggested that a uniform Poverty Basket Line be used for rural and urban region.
· It recommended a change in the way prices are adjusted and demanded for an explicit provision in the
Poverty Basket Line to account for private expenditure in health and education.
Tendulkar adopted the cost of living as the basis for identifying poverty. The Tendulkar panel stipulated a
benchmark daily per capita expenditure of Rs . 27 and Rs . 33 in rural and urban areas, respectively, and
arrived at a cut-off of about 22% of the population below poverty line.
Since the numbers were unrealistic and too low, the government appointed another committee under Prime
Minister’s Economic Advisory Council Chairman C. Rangarajan to review the poverty estimation
methodology. Brushing aside the Tendulkar Committee. Rangarajan committee raised these limits to Rs .
32 and Rs . 47, respectively, and worked out poverty line at close to 30%.
QUESTION 20.
Consider following statements with respect to Mozambique
a) 1 and 2
b) 2 and 3
c) All of the above
d) None of the above
Correct Answer: D
Your Answer: B
Explanation
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Solution (d)
Mozambique is located on the southeast coast of Africa. It is bound by Swaziland to the south, South Africa
to the southwest, Zimbabwe to the west, Zambia and Malawi to the northwest, Tanzania to the north and
the Indian Ocean to the east.
The Mozambique Channel is an arm of the Indian Ocean located between Madagascar and Mozambique.
Mozambique in News –
http://economictimes.indiatimes.com/industry/indl-goods/svs/metals-mining/coal-india-surrenders-exploratory-block-in-m
QUESTION 21.
Consider the following statements regarding Commercial Livestock rearing:
2. The number of animals kept, are according to the carrying capacity of the pasture.
a) 1 and 2
b) 2 and 3
c) 1 and 3
d) All of the above
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Correct Answer: A
Your Answer: A
Explanation
Solution (a)
Unlike nomadic herding, commercial livestock rearing is more organized and capital intensive. Commercial
livestock ranching is essentially associated with western cultures and is practiced on permanent ranches.
These ranches cover large areas and are divided into a number of parcels, which are fenced to regulate
the grazing. When the grass of one parcel is grazed, animals are moved to another parcel. The number of
animals in a pasture is kept according to the carrying capacity of the pasture.
This is a specialized activity in which only one type of animal is reared. Important animals include sheep,
cattle, goats and horses. Products such as meat, wool, hides and skin are processed and packed
scientifically and exported to different world markets.
QUESTION 22.
The primary objective of economic planning in India
a) Removal of Unemployment
b) Poverty Abolition
c) Reducing Inequalities of income
d) Growth with social justice
Correct Answer: D
Your Answer: A
Explanation
Solution (d)
The Indian Constitution and five year plans state social justice as the primary objective of the
developmental strategies of the government.
Source : http://www.preservearticles.com/201104115299/objectives-of-economic-planning-in-india.html
QUESTION 23.
In which of the following trade blocs, is India an associate member
a) ASEAN
b) SAFTA
c) OECD
d) OPEC
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Correct Answer: B
Your Answer: A
Explanation
Solution (b)
SAFTA Members – Bangladesh, Maldives, Bhutan, Nepal, India, Pakistan, Sri Lanka
QUESTION 24.
The Human Development Report is published by
Solution (c)
Indirect Question: Since 1990, the United Nations Development Programme (UNDP) has been publishing
the Human Development Report every year. This report provides a rank-wise list of all member countries
according to the level of human development. The Human Development index and the Human Poverty
index are two important indices to measure human development used by the UNDP.
QUESTION 25.
What are the weaknesses of free market from which emerged the need for planning?
1. Exploitation of workers
2. Inequalities
3. Instability
a) 1, 2 and 3
b) 2 and 3
c) 1 and 3
d) Only 3
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Correct Answer: A
Your Answer: A
Explanation
Solution (a )
Indirect Question: In a free market economy or a capitalist economy, the market is driven by demand and
supply and with a profit motive but not by need and social motive. Also in free market, there will not be any
regulations by government. In such a scenario all these are disadvantages.
Refer to the sources for detailed explanation on how they cause these disadvantages.
Source :
http://smallbusiness.chron.com/explain-advantages-disadvantages-market-economies-70553.html
http://www.investopedia.com/articles/economics/08/free-market-regulation.asp
QUESTION 26.
Consider the following statements regarding ‘Foot loose’ Industry:
1. They are weight losing industries and are located near the raw materials.
2. They employ large labour force and produce large quantities of product.
a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2
Correct Answer: C
Your Answer: B
Explanation
Solution (c)
Foot loose industries can be located in a wide variety of places. They are not dependent on any specific
raw material, weight losing or otherwise. They largely depend on component parts which can be obtained
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anywhere. They produce in small quantity and also employ a small labour force. These are generally not
polluting industries. The important factor in their location is accessibility by road network.
QUESTION 27.
Which of the following does the Suez Canal Connect?
Solution (b)
Factual Question: Suez canal connects Mediterranean sea and Red sea.
This sea route passes through the heart of the Old World and serves more countries and people than any
other route. Port Said, Aden, Mumbai, Colombo and Singapore are some of the important ports on this
route. The construction of Suez canal has greatly reduced the distance and time as compared to the earlier
route through the Cape of Good Hope. This trade route connects the highly industrialised Western
European region with West Africa, South Africa, South-east Asia and the commercial agriculture and
livestock economies of Australia and New Zealand. Before the construction of the Suez Canal this was the
route connecting Liverpool and Colombo which was 6,400 km longer than the Suez Canal route. The
volume of trade and traffic between both East and West Africa is on the increase due to the development of
the rich natural resources such as gold, diamond, copper, tin, groundnut, oil palm, coffee and fruits.
QUESTION 28.
The most urgent problem with prompted the introduction of New Economic Policy in 1991 was:
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Correct Answer: A
Your Answer: A
Explanation
Solution (a)
Rest problems were prevailing since many years but the immediate cause for NEP was Foreign exchange
crisis which led to imposing of restrictions by IMF
QUESTION 29.
Consider the following statements about Polymetallic Nodules (PMN)
a) Only 1
b) 1 and 3
c) 1 and 2
d) All of the above
Correct Answer: C
Your Answer: C
Explanation
Solution (c)
· They are potato-shaped, largely porous nodules found in abundance carpeting the sea floor of world
oceans in deep sea.
· Besides manganese and iron, they contain nickel, copper, cobalt, lead, molybdenum, cadmium,
vanadium, titanium, of which nickel, cobalt and copper are considered to be of economic and strategic
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importance.
The International Seabed Authority is an autonomous international organization established under the 1982
United Nations Convention on the Law of the Sea and the 1994 Agreement relating to the Implementation
of Part XI of the United Nations Convention on the Law of the Sea.
Source - http://pib.nic.in/newsite/PrintRelease.aspx?relid=149713
QUESTION 30.
Consider the following statements about Jan Aushadi Yojana
2. Aim is to make available quality generic medicines to all at affordable prices through Jan Aushadhi Store
(JAS)
3. Bureau of Pharma PSUs of India (BPPI) is the implementing agency which is under the Department of
Pharmaceuticals
a) 1 and 2
b) 1 and 3
c) 2 and 3
d) All of the above
Correct Answer: C
Your Answer: A
Explanation
Solution (c)
The Jan Aushadhi Scheme is a direct market intervention scheme of the Department of Pharmaceuticals,
Ministry of Chemicals and Fertilizers
Its aim is to make available quality generic medicines to all at affordable prices through Jan Aushadhi Store
(JAS) opened in each district of the states
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Bureau of Pharma PSUs of India (BPPI) is the implementing agency. It was established in 2008 and comes
under the Department of Pharmaceuticals
BPPI - http://janaushadhi.gov.in/bppi.html
Source - http://pib.nic.in/newsite/PrintRelease.aspx?relid=149737
QUESTION 31.
Which of the following can be supplied from Pipelines?
1. Natural gas
2. Water
3. Petroleum
4. Liquidified Coal
a) 1, 2 and 3
b) 1 and 3
c) 2,3 and 4
d) All of the above
Correct Answer: D
Your Answer: A
Explanation
Solution (d)
Pipelines are used extensively to transport liquids and gases such as water, petroleum and natural gas for
an uninterrupted flow. Water supplied through pipelines is familiar to all. Cooking gas or LPG is supplied
through pipelines in many parts of the world. Pipelines can also be used to transport liquidified coal. In New
Zealand, milk is being supplied through pipelines from farms to factories.
QUESTION 32.
The main changes in fiscal policy are
2. System of fixed exchange rate converted into market determined exchange rate
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a) Only 1, 2 and 3
b) Both 2 and 3
c) Both 1 and 3
d) Only 1
Correct Answer: D
Your Answer: D
Explanation
Solution (d)
QUESTION 33.
Which of the following is true?
a) Tariff barriers are directly imposed on the cost of imports to make them costly
b) Non-Tariff barriers are imposed on the amount of imports or exports
c) Both are true
d) Both are wrong
Correct Answer: C
Your Answer: C
Explanation
Solution (c)
Source: NCERT – Eco 11th – Indian Economic Development, Chapter 3 Liberalisation . Privatisation
and Globalisation : An Appraisal under 3.5 Globalisation
http://www.investopedia.com/articles/economics/08/tariff-trade-barrier-basics.asp
QUESTION 34.
During British Rule, India had a large export surplus. But that was not reflected in India’s growth because
1. Several essential commodities like food grains, clothes, kerosene etc were scarcely available in the
domestic market.
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2. A minuscule part of the profits earned, was spent in India and rest was used by the government for its
expenses away from India.
a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2
Correct Answer: C
Your Answer: B
Explanation
Solution (c)
The most important characteristic of India’s foreign trade throughout the colonial period was the generation
of a large export surplus. But this surplus came at a huge cost to the country’s economy. Several essential
commodities—food grains, clothes, kerosene etc. — were scarcely available in the domestic market.
Furthermore, this export surplus did not result in any flow of gold or silver into India. Rather, this was used
to make payments for the expenses incurred by an office set up by the colonial government in Britain,
expenses on war, again fought by the British government, and the import of invisible items, all of which led
to the drain of Indian wealth.
QUESTION 35.
Which type of Economic model did India choose to have after Independence?
Solution (d)
In a market economy, also called capitalism, only those consumer goods will be produced that are in
demand, i.e., goods that can be sold profitably either in the domestic or in the foreign markets. If cars are in
demand, cars will be produced and if bicycles are in demand, bicycles will be produced. If labour is cheaper
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than capital, more labour-intensive methods of production will be used and vice-versa. In a capitalist
society the goods produced are distributed among people not on the basis of what people need but on the
basis of Purchasing Power—the ability to buy goods and services.
In a socialist society the government decides what goods are to be produced in accordance with the needs
of society. It is assumed that the government knows what is good for the people of the country and so the
desires of individual consumers are not given much importance. The government decides how goods are to
be produced and how they should be distributed. In principle, distribution under socialism is supposed to be
based on what people need and not on what they can afford to purchase. Unlike under capitalism, for
example, a socialist nation provides free health care to all its citizens. Strictly, a socialist society has no
private property since everything is owned by the state. In Cuba and China, for example, most of the
economic activities are governed by the socialistic principles.
Most economies are mixed economies, i.e. the government and the market together answer the three
questions of what to produce, how to produce and how to distribute what is produced. In a mixed economy,
the market will provide whatever goods and services it can produce well, and the government will provide
essential goods and services which the market fails to do. After independence, India adopted the mixed
economy.
QUESTION 36.
Consider the following statements about Coalition for Epidemic Preparedness Innovations (CEPI)
1. Aim is to stop future epidemics by developing new vaccines for a safer world
2. World Economic Forum and Department of Biotechnology, Ministry of Science & Technology are among
the founding partners of CEPI
3. It is a public-private coalition
a) Only 1 and 2
b) Only 2
c) 1, 2 and 3
d) 2 and 3
Correct Answer: C
Your Answer: C
Explanation
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Solution (c)
Aim – It is a public-private coalition that aims to derail epidemics by speeding development of vaccines/to
stop future epidemics by developing new vaccines for a safer world
Founding partners: Dept of Biotechnology, Ministry of S&T, Government of India, Government of Norway,
Wellcome Trust, Bill and Melinda Gates Foundation and World Economic Forum
Source - http://www.thehindu.com/sci-tech/science/k-vijay-raghavan-interview/article9094513.ece
QUESTION 37.
Consider the following statements about Asia Pacific Trade Agreement (APTA)
2. It is an initiative under the United Nations Economic and Social Commission for Asia and the Pacific
(UN-ESCAP)
a) 1 and 2
b) 2 and 3
c) 1 and 3
d) All of the above
Correct Answer: A
Your Answer: Unanswered
Explanation
Solution (a)
The Asia-Pacific Trade Agreement (APTA), previously named the Bangkok Agreement, was signed in 1975
as an initiative of ESCAP. Being the oldest preferential trade agreement among developing countries in
Asia-Pacific, APTA aims to promote economic development through the adoption of mutually beneficial
trade liberalization measures that will contribute to intra-regional trade expansion and provides for
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economic integration through coverage of merchandise goods, services, investment and trade facilitation.
Open to all developing member countries, APTA is a truly region-wide trade agreement spanning East and
South Asia, with potential to expand to other sub-regions, including Central Asia and the Pacific. APTA is
the first plurilateral agreement among the developing countries in the region to adopt common operational
procedures for certification and verification of the origin of goods and it has the longest effective
implementation period amongst the trade agreements in the entire Asia-Pacific. Notably, APTA is the only
operational trade agreement linking China and India, two of the fastest growing markets in the world, and
other major markets such as the Republic of Korea.
APTA has six member countries (Bangladesh, China, India, Laos, South Korea, and Sri Lanka) and covers
a market with a GDP of $15 trillion, comprising nearly three billion people.
Mongolia has recently concluded its bilateral negotiations on tariff concessions with the current
Participating States, and is soon to become the seventh member of APTA. Mongolia's formal accession will
take place during the fourth session of the APTA Ministerial Council scheduled for January 2015.
Source -
http://www.thehindu.com/business/Economy/cabinet-nod-for-greater-trade-with-asia-pacific-nations-including-china/artic
QUESTION 38.
Which of the following five year plans was based on Mahalanobis Model?
Solution (b)
Planning, in the real sense of the term, began with the Second Five Year Plan. The Second Plan, a
landmark contribution to development planning in general, laid down the basic ideas regarding goals of
Indian planning; this plan was based on the ideas of Mahalanobis .
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Recently the Union cabinet cleared a proposal to set up a Higher Education Financing Agency (HEFA).
Consider the following statements
1. It will be a special purpose vehicle (SPV) and work from a state-run bank
a) Only 1
b) Only 2
c) Both 1 and 2
d) None of the above
Correct Answer: C
Your Answer: D
Explanation
Solution (c)
HEFA will raise Rs 20,000 crore from loans and bond sales to fund infrastructure development at central
educational institutions.
The agency, which will be a special purpose vehicle (SPV) and work from a state-run bank, is expected to
ease pressure on the government, which currently is the sole funder of such institutions.
The agency will have a capital base of Rs 2,000 crore, of which Rs 1,000 crore will be equity from the
central government. It will leverage the equity money to raise funds from the debt market. The SPV will be
a quasi-sovereign agency, which will borrow funds at close to the 10-year gilt rate, which is around 8% at
present. It will lend to institutions at a slightly higher rate.
HEFA would also mobilize corporate social responsibility funds from corporate entities, which would in turn
be released for promoting research and innovation in these institutions on a grant basis.
Source -
http://www.livemint.com/Education/qChhexwj9cKWFKKsBmMIlJ/Higher-education-financing-agency-gets-green-light.htm
QUESTION 40.
Consider the below statements in regard to First Information Report (FIR), a written document prepared by
police organizations in India and selects the incorrect statement:
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Correct Answer: B
Your Answer: B
Explanation
Solution (b)
The police can register FIRs only for cognizable offences — where the police have the power to arrest
without a warrant. Examples of cognizable offences include murder, rape, theft, attack, etc. For
non-cognizable offences, such as bigamy or defamation, the police cannot arrest without a warrant and
thus cannot register an FIR. The complaint is sent to the Judicial Magistrate for action.
Last week the Supreme Court of India made it mandatory for the police to upload within 48 hours a First
Information Report (FIR) drawn up by it suo motu or on a complaint.
According to the order, there will be exemption from the directive when the alleged offence is sensitive,
such as sexual violence or one in which there is an angle of national security, insurgency or terrorism. We
endorse this exception, because we are living in times when both privacy and terror issues matter greatly.
Statement (b) is wrong because FIRs which involves national security, insurgency or terrorism are
exempted from this mandatory clause.
Source -
http://www.thehindu.com/opinion/lead/on-the-sc-order-for-quick-uploading-of-firs-by-police/article9104526.ece?
QUESTION 41.
Sardoar Sarovar Dam is built on which river?
a) Narmada
b) Sabarmati
c) Tapti
d) Saraswati
Correct Answer: A
Your Answer: A
Explanation
Solution (a)
The Sardar Sarovar Dam is a gravity dam on the Narmada river near Navagam , Gujarat in India. It is the
largest dam and part of the Narmada Valley Project
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Source -
http://www.thehindu.com/news/national/sardar-sarovar-dam-irrigation-project-brings-migrants-back-to-saurashtra/article
QUESTION 42.
Consider the following statements with respect to Magnetars
2. They are differentiated from other neutron stars by having even stronger magnetic fields and rotating
comparatively slowly
3. The magnetic field decay powers the emission of X-rays and gamma rays
a) Only 1
b) 1 and 2
c) 2 and 3
d) All of the above
Correct Answer: D
Your Answer: A
Explanation
Solution (d)
The magnetic field decay powers the emission of high-energy electromagnetic radiation, particularly X-rays
and gamma rays.
Like other neutron stars, magnetars are around 20 kilometres (12 mi) in diameter and have a mass 2–3
times that of the Sun. Magnetars are differentiated from other neutron stars by having even stronger
magnetic fields, and rotating comparatively slowly, with most magnetars completing a rotation once every
one to ten seconds, compared to less than one second for a typical neutron star.
This magnetic field gives rise to very strong and characteristic bursts of X-rays and gamma rays. The active
life of a magnetar is short.
Their strong magnetic fields decay after about 10,000 years, after which activity and strong X-ray emission
cease.
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Source -
http://www.thehindu.com/sci-tech/science/trio-of-highenergy-telescopes-spots-slowest-known-magnetar/article9094873.
http://www.thehindu.com/sci-tech/demystifying-science-what-are-magnetars/article9094838.ece
QUESTION 43.
Which of the following statements is/are true about Governor’s Office?
2. A Governor can simultaneously function as a member of Lok Sabha or Rajya Sabha or State Legislature
a) Only 1
b) 1 and 2
c) 1 and 3
d) All of the above
Correct Answer: C
Your Answer: A
Explanation
Solution (c)
He should not be a member of either House of parliament or a house of the state legislature. If any such
person is appointed as governor, he is deemed to have vacated his seat in that House on the date on
which he enters upon his office as the governor.
The governor has no security of tenure and no fixed term of office. He may be removed by the President at
any time.
Source -
http://indianexpress.com/article/india/india-news-india/arunachal-governor-jyoti-prasad-rajkhowa-sacked-3028343/
QUESTION 44.
GSAT-11 is to be launched early next year on the European Ariane launch vehicle. It is a –
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a) Navigation Satellite
b) Earth Observation Satellite
c) Communication Satellite
d) None of the above
Correct Answer: A
Your Answer: B
Explanation
Solution (c)
GSAT-11 is an advanced communication satellite employing a new class of bus weighing 4000-6000 Kg.
The commercial payload includes Ka x Ku-Band Forward Link Transponders and Ku x Ka band Return Link
Transponders.
The satellite is scheduled to be launched during Fourth Quarter of 2016 on-board Ariane-5 Launch Vehicle.
Source - http://www.thehindu.com/news/national/gsat11-to-be-launched-in-early-2017/article9105114.ece
QUESTION 45.
Consider the following statements with respect to methanol
a) Only 1
b) Only 2
c) Both 1 and 2
d) None of the above
Correct Answer: A
Your Answer: A
Explanation
Solution (a)
Methanol is the simplest alcohol, being only a methyl group linked to a hydroxyl group
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Source -
http://indianexpress.com/article/business/business-others/narendra-modi-nitin-gadkari-methanol-economy-opportunities
QUESTION 46.
Consider the following statements regarding Unemployment
1. Disguised unemployment exists where part of the labour force is either left without work or is working in
a redundant manner where worker productivity is essentially zero.
2. Structural unemployment occurs because of an absence of demand for a certain type of worker.
3. Frictional unemployment occurs because of the abnormal turnover in the labor market and the time it
takes for workers to find new jobs.
a) 1 and 2
b) 2 and 3
c) 1 and 3
d) 3 only
Correct Answer: D
Your Answer: D
Explanation
Solution (d)
Types of Unemployment
There are three major types of unemployment including cyclical, frictional, and structural. Let's take a look
at each one of them through the eyes of workers in the town of Ceelo . As a matter of fact, I'd like to
introduce you to a few of them and then find out what type of unemployment they're experiencing.
Cindy just graduated from college, and she's looking for work by scanning job sites, reading newspaper
listings and attending job fairs. Good for you, Cindy. Cindy's dad, Matt, is a manufacturing worker in Ceelo
who loves to pull levers and wear hard hats. Matt's Uncle Fred works as a temporary Santa Claus each
holiday season; in particular, he loves to work at commodities trading firms on Wall Street. Fred's brother
Frohm is a high school gym teacher who is desperately trying to teach kickboxing to the school's guinea
pigs with the help of students. He was hired as a second gym teacher last year.
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Okay, so this is the town of Ceelo , and these are the workers we're talking about. Now, let's talk about the
economy.
Cyclical Unemployment
Over time, the economy experiences many ups and downs. That's what we call cyclical unemployment
because it goes in cycles. Cyclical unemployment occurs because of these cycles. When the economy
enters a recession, many of the jobs lost are considered cyclical unemployment.
For example, during the Great Depression, the unemployment rate surged as high as 25%. That means
one out of four people were willing and able to work, but could not find work! Most of this unemployment
was considered cyclical unemployment. Eventually, unemployment came down again. As you can see, at
least part of unemployment can be explained by looking at the cycles, or the ups and downs of the
economy.
Frictional Unemployment
Frictional unemployment occurs because of the normal turnover in the labor market and the time it takes for
workers to find new jobs. Throughout the course of the year in the labor market, some workers change
jobs. When they do, it takes time to match up potential employees with new employers. Even if there are
enough workers to satisfy every job opening, it takes time for workers to learn about these new job
opportunities, and for them to be considered, interviewed and hired.
When Cindy graduates from college, she begins looking for work. Let's say it takes her four months to land
a new job. During this time, she is frictionally unemployed.
Structural Unemployment
Let's talk about structural unemployment. It occurs because of an absence of demand for a certain type of
worker. This typically happens when there are mismatches between the skills employers want and the skills
workers have. Major advances in technology, as well as finding lower costs of labor overseas, lead to this
type of unemployment.
Source: http://study.com/academy/lesson/three-types-of-unemployment-cyclical-frictional-structural.html
Unemployment that does not affect aggregate output, disguised unemployment exists where part of the
labor force is either left without work or is working in a redundant manner where worker productivity is
essentially zero. An economy demonstrates disguised unemployment where productivity is low and where
too many workers are filling too few jobs.
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Source: http://www.investopedia.com/terms/d/disguised-unemployment.asp
QUESTION 47.
Which of the following are indicators that are measured in UNDP’s Global Multidimensional Poverty Index?
1. Child mortality
3. Access to sanitation
4. Extent of malnutrition
a) 1 and 2 only
b) 1, 2 and 3
c) 2, 3 and 4
d) All of the above
Correct Answer: D
Your Answer: C
Explanation
Solution (d)
Though this question is related to Current Affairs/Economics, the basics are taken to make you understand
analytical perspective. This topic comes under Rights in the Indian Constitution or Equality chapter. This
question gives you an idea about how polity/economy can be related to Current Affairs. Hint also taken
from Poverty issues mentioned under Economy Class 11 th NCERT
The Global Multidimensional Poverty Index (MPI) was developed in 2010 by the Oxford Poverty &
Human Development Initiative and the United Nations Development Programme and uses different factors
to determine poverty beyond income-based lists. It replaced the previous Human Poverty Index .
Indicators used:
· Years of schooling: deprived if no household member has completed five years of schooling
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· Child school attendance: deprived if any school-aged child is not attending school up to class 8
· Nutrition: deprived if any adult or child for whom there is nutritional information is malnourished
· Sanitation: deprived if the household’s sanitation facility is not improved (according to MDG guidelines),
or it is improved but shared with other households
· Drinking water: deprived if the household does not have access to safe drinking water (according to
MDG guidelines) or safe drinking water is more than a 30-minute walk from home roundtrip
· Cooking fuel: deprived if the household cooks with dung, wood or charcoal
· Assets ownership: deprived if the household does not own more than one radio, TV, telephone, bike,
motorbike or refrigerator and does not own a car or truck
Source: https://en.wikipedia.org/wiki/Multidimensional_Poverty_Index
QUESTION 48.
Which of the following is/are correct regarding government schemes?
2. Sampoorna Grameen Rozgar Yojna is implemented with cost sharing of 25:75 with centre:States
3. Under food for work program, the wages can be paid partly in both food and cash
4. Rural Employment generation Program aim was to create self-employment for educated youth in rural
areas and small towns
a) Only 3
b) 1 and 4
c) 2 and 3
d) None
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Correct Answer: A
Your Answer: C
Explanation
Solution (a)
MGNREGA provides compulsory work for 100 days. In SGRY, the ratio is 75:25 between centre and state.
Prime Minister Rozgar Yojna aim was to create self-employment for educated youth in rural areas and
small towns.
Source: NCERT – 11 th Eco – Indian Economic Development, Chapter 4 under 4.6 Topic – “Policies
And Programmes Towards Poverty Alleviation”
http://business.mapsofindia.com/rural-economy/development/national-food-work-programme.html
https://en.wikipedia.org/wiki/Sampoorna_Grameen_Rozgar_Yojana
QUESTION 49.
Which of the following are true?
1. Percentage of working women is more in urban areas than rural areas due to high opportunities
2. Rural Areas mainly suffer from Frictional Unemployment
3. Urban Areas mostly suffer from Open Unemployment
4. A software company with 8 hired employees is an Informal Sector establishment
Choose the correct option:
a) 1,3 and 4
b) 3 and 4
c) 1, 2 and 4
d) 2 and 3
Correct Answer: B
Your Answer: D
Explanation
Solution (b)
Percentage of working women is more in rural areas than in urban areas. Seasonal Unemployment and
Disguised Unemployment are majorly found in rural area. All the establishments with more than 10 workers
can only be called as a formal Establishment.
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QUESTION 50.
Which of the following are true?
1. The sum value of any goods and services produced within the country in a year is the Gross Domestic
Product of that year
2. All those who are engaged in economic activities are called workers and people in temporary leave from
work does come under workers
3. Household women also come under workers as they perform some work
Choose the correct option:
a) 1 and 2
b) 1 and 3
c) 2 and 3
d) 2 only
Correct Answer: D
Your Answer: D
Explanation
The word “any” is wrong. GDP consists of only final goods and services. Even if the workers are in
temporary leave, they will still called as workers. All household women although they perform work, as they
do not contribute towards Indian Economy, they are not called as workers.
Source: NCERT – 11th Eco – Indian Economic Development, Chapter 7 under 7.2 Topic – “Workers
And Employment"
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