The Reserve Bank of India (RBI) is India’s central banking institution, which controls the monetary policy of the Indian rupee. It is an independent apex monetary authority which regulates banks and provides important financial services like storing of foreign exchange reserves, control of inflation, monetary policy report.
Q3. Which of the following Country doesn’t have a written Constitution?
निम्नलिखित में से किस देश के पास लिखित संविधान नहीं है?
(a) United Kingdom/ यूनाइटेड किंगडम
(b) Australia/ ऑस्ट्रेलिया
(c) United States of America/ संयुक्त राज्य अमेरिका
An indifference curve is a graph showing combination of two goods that give the consumer equal satisfaction and utility. Each point on an indifference curve indicates that a consumer is indifferent between the two and all points give him the same utility.
Judicial review is a process under which executive and (in some countries) legislative actions are subject to review by the judiciary. The power of courts to assess whether a law is in compliance with the constitution. A court with judicial review power may invalidate laws and decisions that are incompatible with a higher authority; an executive decision may be invalidated for being unlawful or a statute may be invalidated for violating the terms of a written constitution. Judicial review is one of the checks and balances in the separation of powers: the power of the judiciary to supervise the legislative and executive branches when the latter exceed their authority.
Q7. After which five year plan, ‘The Rolling Plan’ was implemented?
किस पंचवर्षीय योजना के बाद ‘अनवरत योजना (रोलिंग प्लान)’ को लागू किया गया था?
The burden of taxation falls more heavily upon the poor than on the rich. Regressive taxation may increase the inequalities on the distribution of income and wealth. Hence, the burden of taxation is higher on the poor than on the rich. In effect, this system widens the gap between the rich and the poor.
Q9. Which article was referred to as the ‘the heart and soul’ of the constitution by Dr. B. R. Ambedkar?
डॉ.बी.आर.अम्बेडकर द्वारा किस अनुच्छेद को संविधान का ‘ह्रदय व आत्मा’ संदर्भित किया गया है?
Article 32 was called the “soul of the constitution and very heart of it” by Dr. Ambedkar. Supreme Court has included it in basic structure doctrine. Further, it is made clear that right to move to Supreme Court cannot be suspended except otherwise provided by the Constitution.
Q10. In which of the following market forms a firm does not exercise control over price?
निम्नलिखित में से किस प्रकार के बाजार में एक व्यवसाय संघ कीमतों को नियंत्रित करने में असमर्थ रहता है?
Monopoly – A monopoly exists when a specific person or enterprise is the only supplier of a particular commodity. Monopolies are thus characterized by a lack of economic competition to produce the good or service, a lack of viable substitute goods, and the possibility of a high monopoly price well above the seller’s marginal cost that leads to a high monopoly profit.
Oligopoly – An oligopoly is a market form wherein a market or industry is dominated by a small number of sellers (oligopolists). Oligopolies can result from various forms of collusion which reduce competition and lead to higher prices for consumers. Oligopoly has its own market structure.
Perfect Competition – the situation prevailing in a market in which buyers and sellers are so numerous and well informed that all elements of monopoly are absent and the market price of a commodity is beyond the control of individual buyers and sellers.
Q11. Which of the following is represented by ‘Lorenz Curve’?
The Lorenz curve is a graphical representation of income inequality or wealth inequality developed by American economist Max Lorenz in 1905. The graph plots percentiles of the population according to income or wealth on the horizontal axis.
Q12. Which of the following is not a fundamental duty?
निम्नलिखित में से कौन सा एक मौलिक कर्त्तव्य नहीं है?
(a) To abide by constitution and respect the National Flag/ संविधान का पालन और राष्ट्रीय ध्वज का सम्मान करना
(b) To promote harmony and brotherhood/ एकता और भाईचारेको बढावा देना
(c) To uphold and protect the sovereignty/ प्रभुत्व की रक्षा और उसे बनाए रखना
(d) Abolition of titles except military and academic/ सैन्य और शिक्षा के अतिरिक्त सभी उपाधियों का उन्मुलन
Ans. (d) Abolition of titles except military and academic
It shall be the duty of every citizen of India —
To abide by the Constitution and respect its ideals and institutions, the National Flag and the National Anthem;
To cherish and follow the noble ideals which inspired our national struggle for freedom;
To uphold and protect the sovereignty, unity and integrity of India;
To defend the country and render national service when called upon to do so;
To promote harmony and the spirit of common brotherhood amongst all the people of India transcending religious, linguistic and regional or sectional diversities; to renounce practices derogatory to the dignity of women;
To value and preserve the rich heritage of our composite culture;
To protect and improve the natural environment including forests, lakes, rivers, wildlife and to have compassion for living creatures;
To develop the scientific temper, humanism and the spirit of inquiry and reform;
To safeguard public property and to abjure violence;
To strive towards excellence in all spheres of individual and collective activity, so that the nation constantly rises to higher levels of endeavour and achievement;
Who is a parent or guardian, to provide opportunities for education to his child, or as the case may be, ward between the age of six to fourteen years.