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1) Which of the following are the characteristics of the “Oligopoly”:
- A small number of firms has the large majority of market share.
- Barriers to entry are high.
- There are so few firms that the actions of one firm can influence the actions of the other firms.
Which of the above statements is/are correct?
a) I only
b) II and II
c) I and III
d) 2 and III
e) I, II, III
2) Which among the following form(s) a part of the Country’s Capital Account?
a) Portfolio investment
b) Foreign Direct Investment
c) NRI deposits
d) Special Drawing Rights
e) All of the above
3) What excludes temporary volatility in prices of some commodities like fuel & food and reflects the general trend of inflation in the economy.
a) Core inflation
b) Non-core inflation
c) Headline inflation
e) Tertiary inflation
4) ‘DTAA’ is an instrument of mutual cooperation on tax matters between two or more countries. What does letter ‘D’ stands for in ‘DTAA’?
5) Token coins are those coins whose __________.
a) Intrinsic value is greater than face value
b) Face value is greater than intrinsic value
c) Intrinsic value and face value are same
d) They have zero face value
e) None of the above
6) Holkar Cricket Stadium is located in which city?
7) Gaborone is a capital of which country?
8) Gorumara National Park is located in which state.
b) West Bengal
c) Himachal Pradesh
9) What was the theme of ‘World No Tobacco Day 2018’ that is observed on 31st May every year?
a) Beat the tobacco
b) No for tobacco, yes for life
c) Say No to tobacco
d) Join the pledge
e) Tobacco and heart disease
10) Corporation bank headquarter is situated in which city?
b) New Delhi
1) Answer: e)
Oligopoly is a market form wherein a market or industry is dominated by a small number of sellers. Oligopolies can result from various forms of collusion which reduce competition and lead to higher prices for consumers.
With few sellers, each oligopolist is likely to be aware of the actions of the others. According to game theory, the decisions of one firm therefore influence and are influenced by decisions of other firms.
An oligopoly maximizes profits.Oligopolies are price setters rather than price takers.
2) Answer: e)
The capital account transactions include all transactions which alter the assets or liabilities, including contingent liabilities, outside India of persons resident in India. Similarly, it includes transactions which alter assets and liabilities in India of persons resident outside the India. The assets and liabilities include securities, immovable properties, foreign currency, lending or borrowing in foreign currency or rupees, intangible assets, trade credits etc.
3) Answer: a)
The “Core Inflation” is an inflation measure which excludes transitory or temporary price volatility as in the case of some commodities such as food items, energy products etc. It reflects the inflation trend in an economy.
4) Answer: c)
A ‘Double Taxation Avoidance Agreement (DTAA)’ is a tax treaty signed between two or more countries. Its key objective is that tax-payers in these countries can avoid being taxed twice for the same income. A DTAA applies in cases where a tax-payer resides in one country and earns income in another.
5) Answer: b)
Token coins refer to small coins of various denominations, which are issued to facilitate day-to-day requirements of the people. All Indian coins, like those of Rs. 10, 5, 2 or 1, are token coins since their value as money is more than value of metal contained in them.
6) Answer: d)
Holkar Cricket Stadium is in Indore, Madhya Pradesh. It was earlier known as Maharani Usharaje Trust Cricket Ground. But in 2010, Madhya Pradesh Cricket Association renamed it after the Holkar dynasty of the Marathas that ruled Indore. Indore city has another International Cricket stadium “Nehru Stadium” which was used for International matches until 31 March 2001
7) Answer: e)
Gaborone is a capital of Botswana.
8) Answer: b)
Gorumara National Park is a National Park in northern West Bengal, India.
9) Answer: e)
‘World No Tobacco Day 2018’ is celebrated on 31st May 2018 under the theme of ‘Tobacco and heart Disease’. This year, it focussed on the impact tobacco has on the cardiovascular health on people worldwide. Tobacco use is an important risk factor for the development of coronary heart disease, stroke and peripheral vascular disease.
10) Answer: e)
Corporation bank headquarter is situated in Mangalore.