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IASbaba’s 60 Day Plan – IAS Prelims Test Series 2021 – ECONOMICS, CURRENT AFFAIRS & CSAT [Day 9]

  • IASbaba
  • March 31, 2021
  • 0
IASbaba Prelims 60 Days Plan, Important Updates
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Hello Friends, 

 

ARCHIVES OF 60 DAYS

NOTE: IASbaba’s 60 DAY questions will be posted around 10 AM. The solution will be released around 6 PM Daily. 

Let us pledge to make it a big game-changer (better than last year) in the next 60 days!

Note- Download the OMR Sheet and attempt the questions exactly like UPSC Prelims. After you are done, please post your OMR in the comment section. Once the solution key is released (around 6 PM), cross-check the answers and, comment the marks (you scored) in the same comment thread. This will keep you accountable, responsible and sincere in days to come. 

You can also take part in the discussion with peers.  


ECONOMICS [DAY 9]


Q.1) Consider the following pairs:

Author Famous Book
1.     Adam Smith An Enquiry into the Nature and Cause of the Wealth of Nations
2.     John Maynard Keynes General Theory of Employment, Interest and Money
3.     Abhijit Banerjee The Economic Consequences of the Peace
4.     Amartya Sen Good Economics for hard times

Which of the above pairs is/are correct?

  1. 1 and 2 only
  2. 2 and 3 only
  3. 3 and 4 only
  4. 1 and 4 only

Q.2) Match List-I with List-II and select the correct answer using the codes given below: 

List-I (Type of Goods) List-II (Example)
1.     Capital Goods A.     Steel sheets
2.     Consumption Goods B.     Machines
3.     Intermediate Goods C.     Home Computers

Select the correct code

  1. 1-A, 2-B, 3-C
  2. 1-B, 2-C, 3-A
  3. 1-B, 2-A, 3-C
  4. 1-C, 2-B, 3-A

Q.3) Which among the following activities constitute Secondary sector in an Economy?

  1. Forestry
  2. Construction
  3. Manufacturing

Choose the correct answer using the codes given below

  1. 1 and 3 only
  2. 2 and 3 only
  3. 3 only
  4. All of the above

Q.4) Consider the following economic elements

  1. Entrepreneurship
  2. Capital
  3. Land
  4. Labour

Which of the above elements are considered to be a part of four factors of production?

  1. 1 and 2 only
  2. 3 and 4 only
  3. 1, 3 and 4 only
  4. All of the above

Q.5) With Reference to Expenditure method of GDP (Gross Domestic Product) calculation, Consider the following statements:

  1. This method adds up consumer spending, investment, government expenditure only.
  2. Both private and public sector expenses incurred within a country’s borders will give the total production value of finished goods and services over a time period.

Which of the above statements is/are correct?

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2

Q.6) Consider the following statements with respect to Gross value added (GVA):

  1. GVA is defined as the value of output less the value of intermediate consumption
  2. It measures the contribution to growth made by an individual producer, industry or sector.
  3. In India, the base year has also been shifted to 2011-12 from the earlier 2004-05.

Which of the above statements is/are correct?

  1. 1 and 2 only
  2. 2 and 3 only
  3. 1 and 3 only
  4. 1, 2 and 3

Q.7) Consider the following statements

  1. Growth is a quantitative concept; it can either be positive or negative.
  2. Development is a qualitative aspect; it is always positive from everybody’s perspective.

Choose the correct statement/s using the codes given below

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2

Q.8) According to economists, the term development means:

  1. The level of nutrition
  2. Expanded healthcare facilities
  3. Improved levels of education

Choose the correct answer using the codes given below

  1. 1 and 2 only
  2. 2 and 3 only
  3. 1 and 3 only
  4. All of the above

Q.9) Identify the incorrect statement mentioned below about various types of Gross Domestic Product (GDP):

  1. Nominal GDP: The total value of all goods and services produced at current market prices.
  2. Real GDP: The sum of all goods and services produced at constant prices.
  3. Actual GDP: Represents market value of goods and services, but rather than capturing the current objective state of a nation’s economic activity, it attempts to estimate the highest level of output an economy can sustain over a period of time.
  4. Potential GDP: Ideal economic condition with 100% employment across all sectors, steady currency, and stable product prices.

Q.10) In the context of economic terms, consider the following statements:

  1. Factor cost: Factor cost includes only the payment to factors of production, it does not include any tax.
  2. Basic Prices: The basic price is the amount receivable by the producer from the purchaser for a unit of a good or service.
  3. Market price: Market price is the price at which a product is sold in the market.

Which of the above statements is/are correct?

  1. 1 and 3 only
  2. 2 and 3 only
  3. 3 only
  4. 1, 2 and 3

Q.11) The stock of skill, ability, expertise, education and knowledge of a nation at a given point of time known as

  1. Human Resource
  2. Human Capital
  3. Human Development
  4. None of the above

Q.12) Which among the following is not an example of micro economic phenomenon?

  1. A family deciding to buy different types of clothes for a festival.
  2. A company looking for ways to reduce the operating cost of manufacturing a good.
  3. Government taking steps to invest more in skill development programme so as to reduce the unemployment level in the country.

Choose the correct code

  1. 1 and 2 only
  2. 2 and 3 only
  3. 2 only
  4. 3 only

Q.13) Which of the following expression correctly explains depreciation?

  1. Depreciation = gross investment – net investment
  2. Depreciation = net investment – gross investment
  3. Depreciation = gross investment + net investment
  4. None of the above

Q.14) Which of the following are NOT taken into account while considering the circular flow of income in simple economy?

  1. Government
  2. Households
  3. External sector
  4. Savings
  5. Firms

Choose the correct code

  1. 1, 2 and 3 only
  2. 1, 3 and 4 only
  3. 1, 3 and 5 only
  4. 1, 2 and 4 only

Q.15) What does the term GDP deflator represents?

  1. Ratio between Nominal GDP and Real GDP
  2. Ratio between Nominal GDP and Price Level
  3. Ratio between Real GDP and deflation
  4. Ratio between Nominal GDP and inflation

Q.16) If the price of an inelastic good is increased, then the total expenditure of the consumer of the good will

  1. Increase
  2. Decrease
  3. Will not effect
  4. Can’t say

Q.17) Which of the following statements are correct regarding ‘Derived Demand’?

  1. It is a demand of a product created as a result of the demand of another product.
  2. Demand for factors of production is a derived demand.

Select the code from following:

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2

Q.18) Which of the following is not a part of National Income calculation by Income method?

  1. Wages paid to the employees working in a firm
  2. Compensation provided for usage of fixed capital
  3. Land rent paid to the landowner
  4. Cost incurred for purchasing the raw material

Q.19) Which one of the following in not a part of service sector in India?

  1. Transport
  2. Construction
  3. Hotels and restaurants
  4. Insurance

Q.20) ‘Opportunity Cost Theory’ is related to

  1. Fiscal Deficit
  2. Retail Market for domestic goods
  3. Location of Industries
  4. International Trade

Q.21) The terms ‘Imperial Eagle, Abhyas, Ghatak’ sometimes mentioned in the news are related to

  1. Bilateral Military Exercises
  2. Unmanned Aerial Vehicles
  3. Offshore Patrol Vessels of Indian Coast Guard
  4. Anti Tank Guided Missiles

Q.22) With reference to Code on Industrial Relations, 2020 consider the following statements:

  1. All industrial establishments with 100 workers or more must prepare standing orders.
  2. Trade union having more than 51% of the workers as members would be recognised as the sole Negotiating Union.
  3. In case no trade union is eligible as sole Negotiating Union, then a Negotiating Council will be formed consisting of representatives of unions that have at least 10% of the workers as members.

Which of the statements given above is/are correct?

  1. 1 and 3 only
  2. 2 only
  3. 2 and 3 only
  4. 1, 2 and 3

Q.23) Recently NITI Aayog has signed Statement of Intent on ‘Decarbonization and Energy Transition Agenda’ with which of the following country?

  1. Belgium
  2. Ireland
  3. Germany
  4. Netherlands

Q.24) Consider the following statements:

  1. Snow Leopard is a Schedule I animal under Wildlife Protection Act of India.
  2. Snow Leopard is listed as “Vulnerable” in IUCN Red list.
  3. India’s first snow leopard conservation centre will be established in Himachal Pradesh.

Which of the statements given above is/are correct?

  1. 1 and 2 only
  2. 1 only
  3. 2 and 3 only
  4. 1 and 3 only

Q.25) With reference to Ambedkar Social Innovation and Incubation Mission (ASIIM), consider the following statements:

  1. It will be implemented jointly by NITI Aayog and Ministry of Social Justice & Empowerment.
  2. Under the scheme, 1,000 SC youth would be identified with start-up ideas through the Technology Business Incubators (TBIs) in various higher educational institutions.

Which of the statements given above is/are correct?

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2

Q.26) Which of the following organisation/institution recently launched Global Initiative on Reducing Land Degradation?

  1. United Nations Environment Programme (UNEP)
  2. United Nations Convention to Combat Desertification (UNCCD)
  3. International Union for Conservation of Nature (IUCN)
  4. None of the above

Q.27) The ‘KRITAGYA’ hackathon aims to promote potential technology solutions for which of the following?

  1. SMART Cities
  2. Farm mechanization
  3. Clean and Renewable Energy
  4. Financial Inclusion

Q.28) The Rogan Art is practiced in which of the following State of India?

  1. Rajasthan
  2. Gujarat
  3. Maharashtra
  4. Telangana

Q.29) Consider the following statements:

  1. Djibouti Code of Conduct is an intergovernmental grouping on maritime matters.
  2. India recently joined the Djibouti Code of Conduct (DCOC) as a member.
  3. Jeddah Amendment to DCOC expanded the scope of maritime security issues.

Which of the statements given above is/are correct?

  1. 1 and 2 only
  2. 2 and 3 only
  3. 1 and 3 only
  4. 1, 2 and 3

Q.30) The terms ‘Rules of Origin’, ‘Certificate of Origin’ often seen in news in the context of which of the following?

  1. Global warming
  2. Disaster risk reduction
  3. International trade
  4. Cyber threats

Q.31) In an arts college, each student studies exactly one language. Three-fifths of the students take Sanskrit’, and one-fourth of the remaining students take Hindi. If all of the other take Hindi, what per cent of the students take Hindi?

  1. 10
  2. 15
  3. 25
  4. 30

Q.32) A boat running downstream covers a distance of 16 km in 2 hours while for covering the same distance upstream, it takes 4 hours. What is the speed of the boat in still water?

  1. 4 km/hr
  2. 6 km/hr
  3. 8 km/hr
  4. 10 km/hr

Q.33) A wheel that has 6 cogs is meshed with a larger wheel of 12 cogs. If the smaller wheel has made 22 revolutions, then find the number of revolutions made by the larger wheel.

  1. 15
  2. 11
  3. 18
  4. 17

Q.34) A man’s speed with the current is 15 km/hr and the speed of the current is 2.5 km/hr. The man’s speed against the current is

  1. 5 km/hr
  2. 9 km/hr
  3. 10 km/hr
  4. 12 km/hr

Q.35) Aryan starts walking from a place at 8 am at a speed of 10 kmph. At 10 am Sanju starts from the same place walking in the same direction at a speed of 15 kmph. When will Sanju meet Aryan?

  1. 11 am
  2. 12 pm
  3. 2 pm
  4. 3 pm

NOTE- Follow this for Comments

  1. Mention- Time Taken after solving the Test

  2. After the release of Solution, Edit your Comment to Mention-  Correct/Incorrect and Score

  3. 2 Marks for Correct/0.66 minus for Incorrect.


What IMPACT can the ‘60 Day’ have on the final results? We will explain by taking a small example. Imagine you are sitting in the examination hall, appearing in Prelims Paper I. You have attempted 70 questions already but still unsure about a few. Then you stumble upon a question that was asked in 60 Day (and believe us, it has happened to hundreds of students countless times). You choose the right answer and submit your paper hoping for the best! Eventually, you go on to clear Mains as well as Personality Test and secure a good rank as well. When the cut off gets announced by UPSC, you realize that you have scored just one mark more than the cut off! Yes, that one mark can change your life (and it has done so to many of our students in the past). Now, imagine the kind of impact 60 to 80 marks can have! Isn’t that so fascinating to imagine?  

One’s level of preparedness is always different for different subjects. Even within a subject, one’s comfort level may vary with topics. For example, one might be more comfortable in solving questions of Polity than Economics and within Polity also, one might be at ease with questions on fundamental rights than Parliament. The level of comfort and ease that one has with a subject/ topic gets manifested in the examination. However, there is no conscious effort by aspirants to micro analyze these aspects. Now, coming to the second aspect i.e. the mistakes that one commits in answering MCQs, it can be said that there are mainly four reasons behind incorrect responses in the OMR sheet. They are:

  1. Lack of information
  2. Lack of analytical ability
  3. Silly mistakes
  4. Excessive risk-taking

Let’s analyze them one by one:

  1. Lack of information: You simply don’t know the information. You are clueless and that’s why you don’t attempt the question. For example, you may have never come across a regime called the ‘Wassenaar Agreement’ during your preparation and you can’t do much about it. The lack of information is pardonable and rectifiable. You can read more and gather more information. That is within your reach.
  2. Lack of analytical ability: You know the concept but the question is a twisted one and you are not able to apply the concept. For example, in a question asking you to identify the climate type of a region based on certain given parameters like precipitation, temperature, and air density, you might find it difficult to mark the correct option even if you are aware of all the options given in the question! That is clearly a lack of application and you can overcome it by developing a habit of framing questions in your mind while you study any topic.
  3. Silly mistakes: This habit is unpardonable. You know the concept, you become happy, you misread the question, you mark the incorrect answer and you are out of the race! Such mistakes reveal your hurriedness while answering the question. A simple mistake of reading ‘chose the incorrect option’ as ‘chose the correct option’ can destroy your chances. It means that you need to have patience and focus while attempting the paper.
  4. Excessive risk-taking: You are confused between the options and just in order to increase your attempts, you make wild guesses and try your luck only to repent eventually. Risk-taking is an art and one must be very careful while doing the guesswork in confusing questions. If you are not lucky enough, it can spoil your chances.

You will realize that these problems will have different meanings for different people. For example, one might find a lack of information as the main culprit in answering wrong the questions on Culture while in Polity, lack of analytical ability is usually the culprit. The point here is that you must analyse your preparation on these yardsticks by applying them on different subjects/ topics. If one is having a headache, he/ she can’t have the same medicine for fever. Isn’t it.

This is where our revamped ’60 Day’ comes into the picture. It will give you an opportunity to micro analyze your preparation and perform better in the examination.

Finally, it is up to you to take advantage of this framework. We are sure of only one thing- if you follow this program, assess yourself on the basis of the given framework and keep improving your weaker areas, success will be yours.

We are providing you with the right platform, the right guidance, and the right competition. Do you have the right motivation to make full use of this initiative? We think you have. Come, be a part of this initiative and take the first step towards SUCCESS!


Importance of self – tracking:

We could have provided all of you with login id and passwords to monitor your daily performance in the 60-day program.

Instead, a simple and most beautiful way which Disqus provides is profile based commenting!

Yes, we have seen the most successful candidates who have taken the maximum benefit from this program monitoring themselves by commenting on their answers in the box given (Disqus comment). And reviewing their performance themselves once in 10 days on the progress meter.

DOWNLOAD THE 60 DAYS PLAN 2021

SOLUTION- Download Here

ENTER YOUR PERFORMANCE AND GET YOUR RANK- Click Here

Important:

  • Ranks and Cut off will be calculated for the entries in the given form only. Cut Off will be released around 10PM and Rank List will be announced soon.
  • Top 10 performers will be selected by finding the average ranks of entire 60 Days Programme and they would get FREE GUIDANCE and MENTORSHIP from IASbaba’s Core Team.

RANK LIST: TOP 30PERFORMERS

Congratulations to all

RANK NAME SCORE
1 Mansi 58
2 Taranpreet kaur 57.34
3 Surya 56
4 Aditi 54
5 Ravi kumar Singh 53.4
6 Shruti 52.02
6 Shruti Mali 52.02
7 Badal Behera 51
8 Afrin Mujawar 50
9 Tarunkumar M N 49.336
10 Gm 49
11 Shashank Tyagi 48
11 keeFaRah 48
12 Deepika gupta 47.34
13 Ranveer shankar kadam 47
14 Swarnali chatterjee 46
14 Mayuri sahu 46
15 Ester Fatum 45.36
16 YB 44.67
16 S RAHEEM BASHA 44.67
17 Tejaswi 44
17 TINKU MITTAL 44
18 Rani singh 43.36
18 Stoic 43.33
19 Shivangi 42
19 Manasa Shankar Bhat 42
20 sweta 41.34
21 mukul 40.7
21 Blue moon 40.7
21 Rani singh 40.7
21 Pavan 40.7
22 Mausam Kumar 40
22 Pooja naik 40
23 Sankar S 39.38
23 Akshat Pathak 39.36
24 HARSH VARDHAN 39
25 Priyanshi Goel 38.66
25 krishna sai satti 38.65
26 SAKSHI JAIN 38.04
27 Theertha Vijayan V V 38
27 Sushil 38
28 Apeksha 37.36
29 SHIVAM GOYAL 37
30 Prashant 36.63

All the Best!

IASbaba

 

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