IASbaba's Daily Static Quiz
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DAILY STATIC QUIZ (PYQs)
It will cover PYQs all the topics of static subjects – Polity, History, Geography, Economics, Environment and Science and technology.
Daily 5 questions (Monday to Saturday) will be posted from static topics (PYQs)
The questions will be in the quiz format so you will be able to answer them directly on the portal.
Schedule
- Week 1 – Polity
- Week 2 – Economics
- Week 3 – History and Art & Culture
- Week 4 – Geography
- Week 5 – Environment and Science & Technology
Same cycle will be repeated from Week 6.
Make the best use of the initiative. All the best!
To Know More about Ace the Prelims (ATP) 2021 – CLICK HERE
Important Note:
- Don’t forget to post your marks in the comment section. Also, let us know if you enjoyed today’s test 🙂
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Question 1 of 5
1. Question
If a commodity is provided free to the public by the Government, then
Correct
Solution (c)
Opportunity cost is the cost of choosing one alternative over another and missing the benefit offered by the forgone opportunity, investing or otherwise. Opportunity cost refers to a benefit that a person could have received, but gave up, to take another course of action. Stated differently, an opportunity cost represents an alternative given up when a decision is made. Opportunity cost is also called the economic cost.
Incorrect
Solution (c)
Opportunity cost is the cost of choosing one alternative over another and missing the benefit offered by the forgone opportunity, investing or otherwise. Opportunity cost refers to a benefit that a person could have received, but gave up, to take another course of action. Stated differently, an opportunity cost represents an alternative given up when a decision is made. Opportunity cost is also called the economic cost.
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Question 2 of 5
2. Question
Increase is absolute and per capital real GNP do not connote a higher level of economic development, if
Correct
Solution (c)
An essential aspect of development is to enable the maximum number to experience the fruits of development. Concepts of per capita income (per capita GDP or per capita NSDP) are not able to capture this aspect of development. There may be a case wherein increase in absolute and per capita GNP is reflective of growth in income of a small section of society and that majority of the population is poverty stricken and unemployed.
Incorrect
Solution (c)
An essential aspect of development is to enable the maximum number to experience the fruits of development. Concepts of per capita income (per capita GDP or per capita NSDP) are not able to capture this aspect of development. There may be a case wherein increase in absolute and per capita GNP is reflective of growth in income of a small section of society and that majority of the population is poverty stricken and unemployed.
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Question 3 of 5
3. Question
Despite being a high saving economy, capital formation may not result in significant increase in output due to
Correct
Solution (d)
Capital Output Ratio (ICOR) measures the percentage increase in capital formation required obtaining a percentage increase in GDP. Entrepreneurs, by investing their own savings and informally mobilising the savings of their friends and relatives contribute to the process of capital formation. These informal funding supplements the funds made available by the formal means of raising resources from banks, financial institutions and capital markets.
Incorrect
Solution (d)
Capital Output Ratio (ICOR) measures the percentage increase in capital formation required obtaining a percentage increase in GDP. Entrepreneurs, by investing their own savings and informally mobilising the savings of their friends and relatives contribute to the process of capital formation. These informal funding supplements the funds made available by the formal means of raising resources from banks, financial institutions and capital markets.
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Question 4 of 5
4. Question
Along with the Budget, the Finance Minister also places other documents before the Parliament which include ‘The Macro Economic Framework Statement’. The aforesaid document is presented because this is mandated by
Correct
Solution (d)
The Macro-Economic Framework Statement, presented to Parliament as per the Fiscal Responsibility and Budget Management Act, 2003.The Framework Statement contains assessment regarding the GDP growth rate, fiscal balance of the Central Government and the external sector balance of the economy.
Incorrect
Solution (d)
The Macro-Economic Framework Statement, presented to Parliament as per the Fiscal Responsibility and Budget Management Act, 2003.The Framework Statement contains assessment regarding the GDP growth rate, fiscal balance of the Central Government and the external sector balance of the economy.
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Question 5 of 5
5. Question
In India, the term “Public Key Infrastructure” is used in the context of
Correct
Solution (a)
Public Key Infrastructure (PKI) is a technology for authenticating users and devices in the digital world. The basic idea is to have one or more trusted parties digitally sign documents certifying that a particular cryptographic key belongs to a particular user or device.
Incorrect
Solution (a)
Public Key Infrastructure (PKI) is a technology for authenticating users and devices in the digital world. The basic idea is to have one or more trusted parties digitally sign documents certifying that a particular cryptographic key belongs to a particular user or device.
