Most Common GK Questions and Answers
Who is a price taker in perfect competition?
(A) Industry
(B) Government
(C) Firm
(D) Buyer
Correct Answer : C
Explanation :
Perfect competition occurs when there are many sellers, there is easy entry and exiting of firms, products are identical from one seller to another, and sellers are price takers.
What is the meaning of demand in economics?
(A) Aggregate/aggregate demand
(B) Market demand
(C) Individual demand
(D) Demand based on purchasing power
Correct Answer : D
Explanation :
Demand is an economic concept that relates to a consumer's desire to purchase goods and services and willingness to pay a specific price for them. An increase in the price of a good or service tends to decrease the quantity demanded.
Camera_object is in the hands of a professional photographer.
(A) Free
(B) Intermediate
(C) Consumer
(D) Capital
Correct Answer : D
Explanation :
Camera, in photography, a device for recording an image of an object on a light-sensitive surface; It is essentially a light-tight box with a hole to admit light that is focused onto a sensitive film or plate. 35 mm single-lens reflex (SLR) camera.
What is the number of sellers in a monopolistic market structure?
(A) very few
(B) very much
(C) one
(D) two
Correct Answer : C
Explanation :
In monopolistic competition, you can find two and more sellers that compete with each other, whereas in a monopoly, there is only one seller.
What is a market with a small number of large firms called?
(A) Dual rights
(B) Competition
(C) Oligopoly
(D) Monopoly
Correct Answer : C
Explanation :
An oligopoly refers to a market structure that consists of a small number of firms, who together have substantial influence over a certain industry or market. While the group holds a great deal of market power, no one company within the group has enough sway to undermine the others or steal market share.
With whom is the Gupta book 'Navnitakam' related?
(A) astronomically
(B) medical science
(C) mathematically
(D) metallurgically
Correct Answer : B
Explanation :
Navanitakama (Quintessence) is an Ayurveda book found by Colonel H. Bower in East Turkey in 1890, in a Buddhist Stupa at Kuchar on the road to China. It is related to Medicine.
In whose time was the first court of law established in Calcutta?
(A) Robert Clive
(B) Dalhousie
(C) Warren Hastings
(D) Canning
Correct Answer : C
Explanation :
The promulgation of Regulating Act of 1773 by the King of England paved the way for establishment of the Supreme Court of Judicature at Calcutta.
Which Sikh Guru established a new city called 'Amrit Sarovar' (now Amritsar)?
(A) Guru Amardas
(B) Guru Ramdas
(C) Guru Arjun Dev
(D) Guru Gobind Singh
Correct Answer : B
Explanation :
Amritsar was founded by Sri Guru Ramdass ji, the fourth guru of the Sikhs in about 1574 A.D. Before the city was founded, the area was covered with thick forests and had several lakes. To start the city the Guru invited 52 traders from different sectors belongings to nearby places like Patti and Kasur to settle here.
Who built the observatory named as 'Jantar-Mantar' in Jaipur, Delhi, Mathura, and Ujjain?
(A) Sawai Jaisingh
(B) Rana Pratap
(C) Man Singh
(D) Surajmal
Correct Answer : A
Explanation :
In the early 18th century, Maharaja Jai Singh II of Jaipur constructed five Jantar Mantar in total, in New Delhi, Jaipur, Ujjain, Mathura and Varanasi; they were completed between 1724 and 1735.
When did the 'Diarchy' of Bengal last?
(A) 1757 to 1767
(B) 1764 to 1793
(C) 1765 to 1772
(D) 1760 to 1793
Correct Answer : C
Explanation :
He introduced the system of diarchy in Bengal in 1765. And this was continued till 1772.
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Rajesh Bhatia
A Writer, Teacher and GK Expert. I am an M.A. & M.Ed. in English Literature and Political Science. I am highly keen and passionate about reading Indian History. Also, I like to mentor students about how to prepare for a competitive examination. Share your concerns with me by comment box. Also, you can ask anything at linkedin.com/in/rajesh-bhatia-7395a015b/.
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