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Prelims Marathon: Economy Quiz, June 5



Solve these Questions & Write your answers in the comment section below

(Note: Solutions would be provided soon.)


Q.1. With reference to the Geographical Indications (GI) tag, consider the following statements:

1. GI is governed by World Bank Group.

2. It helps consumers to get quality products of desired traits 3. A sweet delicacy ‘Sitabhog’ belonging to Odisha is being planned for GI tag by Odisha government.

Which of the statement(s) given above is/are correct?

a) 1 and 2 only

b) 2 only

c) 1 and 3 only

d) 1, 2 and 3 


Q.2. With reference to the “Price Deficiency Payment”, consider the following statements:

1. It is offered when the Minimum Support Price is below the mandi price.

2. The mechanism entails paying the benefit directly to the affected farmers. Which of the statement(s) given above is/are correct?

a) 1 only

b) 2 only

c) Both 1 and 2

d) Neither 1 nor 2


Q.3. Which among the following are the services available to children under Integrated Child Development Services (ICDS) scheme?

1. Nutrition

2. Immunization

3. Pre-school non-formal education

Select the correct answer using the codes given below

a) 1 and 2 only

b) 1 and 3 only

c) 2 and 3 only

d) 1, 2 and 3


Q.4. Which of the following policies can be adopted to promote ‘fiscal consolidation’?

1. Increasing FDI in insurance

2. Enactment of food security laws

3. Direct Benefit Transfer

Select the correct answer using the codes given below.

a) 2 and 3 only

b) 1 and 3 only

c) 2 only

d) 1, 2 and 3


Q.5. With reference to the affairs of World Trade Organization, the Most Favoured Nation (MFN) status implies:

1. Granting a higher status to one country with respect to the other trading partners.

2. Lowering the custom duties for that country as a special privilege.

3. Non-discriminatory treatment by one country towards the other country with regard to trade in goods and services.

Select the correct answer using the codes given below.

a) 1 only

b) 2 and 3 only

c) 3 only

d) 1, 2 and 3


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