GK Questions and Answer, GK Quiz

1:  Who was first Chairman of the Constituent Assembly?
Options:
  1. Pt. Jawaharlal Nehru
  2. Dr. Rajendra Prasad
  3. Dr. B.R. Ambedkar
  4. C. Rajagopalachari

Answer: Option2

Explanation:

Though, Dr. B.R. Ambedkar formulated the constitution of India, but it was Dr. Rajendra Prasad, the first President of India, became the first Chairman of the Constituent Assembly. Discuss this in Forums

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2:  Who is the founder & head of the department Diwan-i-Kohi in Medieval Period?
Options:
  1. Alauddin Khilji
  2. Muhammad Bin Qasim
  3. Firoz Tughlaq
  4. Muhammad Bin Tughlaq

Answer: Option4

Explanation:

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3:  Who is the founder of Sankhya-Darsana in Vedic Culture?
Options:
  1. Kaushiki
  2. Kapila
  3. Panchvisha
  4. Aitareya

Answer: Option2

Explanation:

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4:  Who was the leader of Forest Satyagraha Riots in the modern age? 1
Options:
  1. Gauri Shanka Mishra
  2. N. G. Ranga
  3. NV Rama Naidu
  4. U. Narayan

Answer: Option3

Explanation:

Though, there is a dispute with NV Rama Naidu & N. G. Ranga about the leader of Forest Satyagraha Riots in the modern age. Lot of books claimed each of them. But after thorough research & other testimonials, it was found that NV Rama Naidu was the main peasant leader of Forest Satyagraha Riots & N. G. Ranga was the main peasant leader of Borsad Movement in the modern age Discuss this in Forums

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5:  When did Mr. Attlee, The Prime Minister of England during Indian Independence, announced the transfer of power to the Indians?
Options:
  1. February, 1947
  2. August, 1947
  3. June, 1948
  4. June, 1949

Answer: Option3

Explanation:

India got independence in Aug 15, 1947 but they could not gain the power due to lack constitutional authority. After 1 year, Mr. C.R. Attlee announced the transfer of power to the Indians in June, 1948. Discuss this in Forums

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6:  When did the Crown of England cease to have any legal or constitutional authority over modern India?
Options:
  1. Nov 26, 1949
  2. Jan 26, 1950
  3. Aug 15, 1947
  4. None of these

Answer: Option2

Explanation:

Though, India got independence in Aug 15, 1947 but they could not form any legal or constitutional authority. England still ruled India. But after Dr. B.R. Ambedkar formulated the constitution of India, the Crown of England cease to have any legal or constitutional authority in independent India from Jan 26, 1950. Discuss this in Forums

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7:  Who saved Pandavas from the 'Narayanastra' missile thrown by Ashathama in Mahabharat?
Options:
  1. Lord Krishna
  2. Lord Vishnu
  3. Lord Shiva
  4. Lord Indra

Answer: Option1

Explanation:

It had very significant role in Mahabharat. After listening, how is father Dronacharya was beheaded & killed in the war by the deceit of the Pandavas, Ashathama unleashed the 'Narayanastra' missile to Pandavas for annihilation, but Lord Krishna being the reincarnation of Lord Vishnu/Narayan saved the Pandavas from annihilation because it was the personal weapon of him also. Discuss this in Forums

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8:  Which is the oldest Puranic text in Vedic Culture?
Options:
  1. Bhagavata
  2. Brahamanada
  3. Vayu
  4. Matsya Purana

Answer: Option4

Explanation:

Since Upanishadas are the source of All Vedas it is regarded as the last literary production of Vedic Culture. But Matsya Purana is the oldest Puranic text & not the last literary production of Vedic Culture. Discuss this in Forums

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9:  Gresham's law in economics relates to which among the following options?
Options:
  1. distribution of goods and services
  2. circulation of currency
  3. supply and demand
  4. consumption and supply

Answer: Option2

Explanation:

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10:  Who among the following legendary economists of all time is associated with the theory of 'Laissez-faire'?
Options:
  1. Adam Smith
  2. Alfred Marshall
  3. Karl Marx
  4. John Maynard Keynes

Answer: Option1

Explanation:

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11:  Which of the following eminent personalities once said, "Where wealth accumulates and men decay"?
Options:
  1. Abraham Lincoln
  2. Oliver Goldsmith
  3. Mahatma Gandhi
  4. Karl Marx

Answer: Option2

Explanation:

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12:  The term 'Dumping' refers to which among the following options?
Options:
  1. the sale of a sub-standard commodity
  2. sale in a foreign market of a commodity at a price below marginal cost
  3. sale in a foreign market of a commodity just at marginal cost without too much of profit
  4. smuggling of goods without paying any customs duty

Answer: Option2

Explanation:

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13:  'Ceteris paribus' is a Latin phrase used in economics, which means
Options:
  1. other things being equal
  2. constant demand condition
  3. most efficient resource allocation
  4. other things do not remain the same

Answer: Option1

Explanation:

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14:  Which of the following definitions can be used for the term 'Consumer's Surplus' in economics?
Options:
  1. total consumer satisfaction
  2. difference between actual price and the potential price
  3. extra units of a commodity bought
  4. surplus commodity left after consumption

Answer: Option2

Explanation:

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15:  What is meant by the statement that 'economics is positive and not normative'?
Options:
  1. It is a study of needs verses affluence.
  2. Economics tells the policy makers which alternative to choose from among several efficient ones.
  3. The wants of human beings are unlimited.
  4. None of these.

Answer: Option2

Explanation:

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16:  Which of the following terms is used to describe a temporary tax levied to obtain additional revenue?
Options:
  1. Cess
  2. Rate
  3. Fee
  4. Surcharge

Answer: Option1

Explanation:

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17:  Which among the following is the basic characteristic of the term 'Oligopoly' in economics?
Options:
  1. A few sellers, a few buyers
  2. A few sellers, many buyers
  3. A few sellers, one buyer
  4. Many sellers, a few buyers

Answer: Option2

Explanation:

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18:  In terms of economics, what kinds of goods are referred to as 'Capital goods'?
Options:
  1. Goods which serve as a source of raising further capital.
  2. Goods which help in the further production of goods.
  3. Goods which directly go into the satisfaction of human wants.
  4. Goods which find multiple uses.

Answer: Option2

Explanation:

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19:  Disguised employment is a situation where the number of persons employed on a job as in contrast to what is required is
Options:
  1. less
  2. more
  3. equal
  4. indefinite

Answer: Option2

Explanation:

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20:  The market price is termed as 'Equilibrium price' when it
Options:
  1. maximises producer's profit
  2. equates consumers and producers surplus
  3. maximises consumer's satisfaction
  4. equates supply and demand

Answer: Option4

Explanation:

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It serves me right for putting all my eggs in one bastard.
-Dorothy Parker You Might as Well Live: The Life and Times of Dorothy Parker