IASbaba Daily Prelims Quiz
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The Current Affairs questions are based on sources like ‘The Hindu’, ‘Indian Express’ and ‘PIB’, which are very important sources for UPSC Prelims Exam. The questions are focused on both the concepts and facts. The topics covered here are generally different from what is being covered under ‘Daily Current Affairs/Daily News Analysis (DNA) and Daily Static Quiz’ to avoid duplication. The questions would be published from Monday to Saturday before 2 PM. One should not spend more than 10 minutes on this initiative.
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Question 1 of 5
1. Question
Consider the following statements with respect to ‘Anti-Dumping Duty’
Statement 1 – It is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value
Statement 2 –Ministry of Corporate Affairs makes the final decision on whether to impose anti-dumping duties in India
Which one of the following is correct in respect of the above statements?
Correct
Solution (c)
Statement Analysis:
Statement 1 Statement 2 Incorrect Incorrect Anti-Dumping Duty is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value. Dumping is a process wherein a company exports a product at a price that is significantly lower than the price it normally charges in its home (or its domestic) market. The duty is priced in an amount that equals the difference between the normal costs of the products in the importing country and the market value of similar goods in the exporting country or other countries that produce similar products. In India, the Ministry of Finance makes the final decision on whether to impose anti-dumping duties. In India, the Ministry of Finance makes the final decision on whether to impose anti-dumping duties. Context – The Ministry of Commerce and Industry recently recommended imposing an anti-dumping duty on aluminium foil imported from China.
Incorrect
Solution (c)
Statement Analysis:
Statement 1 Statement 2 Incorrect Incorrect Anti-Dumping Duty is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value. Dumping is a process wherein a company exports a product at a price that is significantly lower than the price it normally charges in its home (or its domestic) market. The duty is priced in an amount that equals the difference between the normal costs of the products in the importing country and the market value of similar goods in the exporting country or other countries that produce similar products. In India, the Ministry of Finance makes the final decision on whether to impose anti-dumping duties. In India, the Ministry of Finance makes the final decision on whether to impose anti-dumping duties. Context – The Ministry of Commerce and Industry recently recommended imposing an anti-dumping duty on aluminium foil imported from China.
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Question 2 of 5
2. Question
Consider the following statements about ‘World Gold Council’
- It is a for profit association whose members comprise the world’s leading and most forward-thinking gold mining companies.
- It co-sponsors research in the development of new uses for gold, or of new products containing gold.
- It is headquartered in Rio De Janeiro, with operations in India, China, Singapore, and the USA
How many statement(s) mentioned above are correct
Correct
Solution (a)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Incorrect Correct Incorrect It is a nonprofit association formed in 1987 whose members comprise the world’s leading and most forward-thinking gold mining companies. The WGC covers the markets which comprise about three-quarters of the world’s annual gold consumption. It also co-sponsors research in the development of new uses for gold, or of new products containing gold. WGC was the creator of the first gold exchange-traded fund. It is headquartered in London, with operations in India, China, Singapore, and the USA. Context – The World Gold Council (WGC) has raised its projection for India’s gold consumption in 2024 to 850 tonnes from 750 tonnes.
Incorrect
Solution (a)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Incorrect Correct Incorrect It is a nonprofit association formed in 1987 whose members comprise the world’s leading and most forward-thinking gold mining companies. The WGC covers the markets which comprise about three-quarters of the world’s annual gold consumption. It also co-sponsors research in the development of new uses for gold, or of new products containing gold. WGC was the creator of the first gold exchange-traded fund. It is headquartered in London, with operations in India, China, Singapore, and the USA. Context – The World Gold Council (WGC) has raised its projection for India’s gold consumption in 2024 to 850 tonnes from 750 tonnes.
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Question 3 of 5
3. Question
Consider the following statements about ‘Foot-and-Mouth Disease (FMD)’
- It was the first disease for which the World Organisation for Animal Health established official status recognition.
- It is a severe, highly contagious bacterial disease of livestock that has a significant economic impact.
Select the INCORRECT statement(s)
Correct
Solution (b)
Statement Analysis:
Statement 1 Statement 2 Correct Incorrect It was the first disease for which the World Organisation for Animal Health (WOAH, founded as OIE) established official status recognition. Vaccines for FMD are available but must be matched to the specific type and subtype of virus causing the outbreak. It is a severe, highly contagious viral disease of livestock that has a significant economic impact. The disease affects cattle, swine, sheep, goats, and other cloven-hoofed ruminants. It does not affect horses, dogs, or cats. Intensively reared animals are more susceptible to the disease than traditional breeds. Context – The Union government recently decided to establish foot-and-mouth disease-free zones in eight States — Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, Uttarakhand, Punjab, Haryana, Maharashtra, and Gujarat.
Incorrect
Solution (b)
Statement Analysis:
Statement 1 Statement 2 Correct Incorrect It was the first disease for which the World Organisation for Animal Health (WOAH, founded as OIE) established official status recognition. Vaccines for FMD are available but must be matched to the specific type and subtype of virus causing the outbreak. It is a severe, highly contagious viral disease of livestock that has a significant economic impact. The disease affects cattle, swine, sheep, goats, and other cloven-hoofed ruminants. It does not affect horses, dogs, or cats. Intensively reared animals are more susceptible to the disease than traditional breeds. Context – The Union government recently decided to establish foot-and-mouth disease-free zones in eight States — Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, Uttarakhand, Punjab, Haryana, Maharashtra, and Gujarat.
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Question 4 of 5
4. Question
With reference to ‘Guru Padmasambhava’, consider the following statements
- He was a member of the Yogācāra sect and taught at Nalanda, a centre of Buddhist studies in India.
- He was known in Tibet as one of the founding fathers of Tibetan Buddhism in 12th Century
Select the correct statement(s)
Correct
Solution (a)
Statement Analysis:
Statement 1 Statement 2 Correct Incorrect Guru Padmasambhava, also known as Guru Rinpoche was a Tantrist and a member of the Yogācāra sect and taught at Nalanda, a centre of Buddhist studies in India. Guru Padamasambhava also represents a consolidation of many strands of culture ranging from Yogic and Tantric practices to meditation, art, music, dance, magic, folklore and religious teachings. He was known in Tibet as one of the founding fathers of Tibetan Buddhism, who appeared in Tibet in 749 A.D. He is credited with having spread the message of Lord Buddha to the countries and regions located in the Himalayan belt, including India, Nepal, Pakistan, Bhutan, Bangladesh and Tibet. Context – International Buddhist Confederation, in collaboration with the Nava Nalanda Mahavihara organised a two-day International Conference on the Life and Living Legacy of Guru Padmasambhava Conference at Nalanda, Bihar.
Incorrect
Solution (a)
Statement Analysis:
Statement 1 Statement 2 Correct Incorrect Guru Padmasambhava, also known as Guru Rinpoche was a Tantrist and a member of the Yogācāra sect and taught at Nalanda, a centre of Buddhist studies in India. Guru Padamasambhava also represents a consolidation of many strands of culture ranging from Yogic and Tantric practices to meditation, art, music, dance, magic, folklore and religious teachings. He was known in Tibet as one of the founding fathers of Tibetan Buddhism, who appeared in Tibet in 749 A.D. He is credited with having spread the message of Lord Buddha to the countries and regions located in the Himalayan belt, including India, Nepal, Pakistan, Bhutan, Bangladesh and Tibet. Context – International Buddhist Confederation, in collaboration with the Nava Nalanda Mahavihara organised a two-day International Conference on the Life and Living Legacy of Guru Padmasambhava Conference at Nalanda, Bihar.
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Question 5 of 5
5. Question
‘Acetanilide’, a compound that was recently is news is mostly used as
Correct
Solution (c)
Acetanilide is a synthetic organic compound with a designated molecular formula of C8H9NO. It is functionally related to an acetic acid. It was introduced in therapy in 1886 as a fever-reducing drug. It is used as an intermediate in the production of dyes, rubber, and other chemicals.
Context – Five persons fell unconscious and were hospitalised when they were engaged in shifting acetanilide bags from one container to another in Visakhapatnam recently.
Incorrect
Solution (c)
Acetanilide is a synthetic organic compound with a designated molecular formula of C8H9NO. It is functionally related to an acetic acid. It was introduced in therapy in 1886 as a fever-reducing drug. It is used as an intermediate in the production of dyes, rubber, and other chemicals.
Context – Five persons fell unconscious and were hospitalised when they were engaged in shifting acetanilide bags from one container to another in Visakhapatnam recently.
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