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Question 1 of 5
1. Question
2 points
The phenomenon when food prices rise more rapidly than the prices of other goods and services, due to the growing demand for crops as both food and for use in biofuels :
Correct
The answer is a.
The phenomenon when food prices rise more rapidly than the prices of other goods and services, due to the growing demand for crops as both food and for use in biofuels is called Agflation.
Incorrect
The answer is a.
The phenomenon when food prices rise more rapidly than the prices of other goods and services, due to the growing demand for crops as both food and for use in biofuels is called Agflation.
Question 2 of 5
2. Question
2 points
Consider the following statements about Micro-Insurance:
a. Its purpose is to promote insurance coverage among economically vulnerable sections of society.
b. IRDAI defines micro-insurance.
c. In India, micro-insurance business is done through non-government organisations, self-help groups, and micro-finance institutions as intermediaries.
How many of the statements given above are correct?
Correct
The answer is c.
All three statements are correct.
Statement 1: The purpose of micro-insurance is to promote insurance coverage among economically vulnerable sections of society.
Statement 2: IRDAI defines micro-insurance.
Statement 3: In India, the micro-insurance business is done through non-government organisations, self-help groups, and micro-finance institutions as intermediaries.
Incorrect
The answer is c.
All three statements are correct.
Statement 1: The purpose of micro-insurance is to promote insurance coverage among economically vulnerable sections of society.
Statement 2: IRDAI defines micro-insurance.
Statement 3: In India, the micro-insurance business is done through non-government organisations, self-help groups, and micro-finance institutions as intermediaries.
Question 3 of 5
3. Question
2 points
Consider the following statements about start-ups:
a. The term ‘Start up’ is defined in the Companies Act 2013.
b. To be recognised as a start-up in India, the entity should be incorporated or registered in India not prior to five years.
c. Also, it should have an annual turnover of not exceeding Rs250 crore in any preceding financial year.
How many of the statements given above are correct?
Correct
The answer is a.
Statements 1 and 3 are wrong. Statement 2 is correct.
Statement 1: The term ‘Start up’ is not defined in the Companies Act 2013.
Statement 2:To be recognised as a start-up in India, the entity should be incorporated or registered in India not prior to five years.
Statement 3: Also, it should have an annual turnover of not exceeding Rs 25 crore in any preceding financial year.
Startup:
A business is covered under the definition of start-up in India only if it aims to develop and commercialize a new product or service or process or a significantly improved existing product or service or process, that will create or add value for customers or workflow.
Incorrect
The answer is a.
Statements 1 and 3 are wrong. Statement 2 is correct.
Statement 1: The term ‘Start up’ is not defined in the Companies Act 2013.
Statement 2:To be recognised as a start-up in India, the entity should be incorporated or registered in India not prior to five years.
Statement 3: Also, it should have an annual turnover of not exceeding Rs 25 crore in any preceding financial year.
Startup:
A business is covered under the definition of start-up in India only if it aims to develop and commercialize a new product or service or process or a significantly improved existing product or service or process, that will create or add value for customers or workflow.
Question 4 of 5
4. Question
2 points
Consider the following:
a. Small farmers
b. Seasonal workers
c. Casual workers
How many of the above are categorised as churning poor?
Correct
The answer is b.
Small farmers and seasonal workers come under churning poor. Casual workers come under Chronic Poor.
Chronic poor: People who are always poor and those who are usually poor but who may sometimes have a little more money (example: casual workers) are
grouped together as the chronic poor.
Churning poor: Another group are the churning poor who regularly move in and out of poverty (example: small farmers and seasonal workers).
Incorrect
The answer is b.
Small farmers and seasonal workers come under churning poor. Casual workers come under Chronic Poor.
Chronic poor: People who are always poor and those who are usually poor but who may sometimes have a little more money (example: casual workers) are
grouped together as the chronic poor.
Churning poor: Another group are the churning poor who regularly move in and out of poverty (example: small farmers and seasonal workers).
Question 5 of 5
5. Question
2 points
The policies undertaken by Governments (national and sub-national levels) to reduce their deficits and accumulation of debt stock is called:
Correct
The answer is a.
The policies undertaken by Governments (national and sub-national levels) to reduce their deficits and accumulation of debt stock is called fiscal consolidation.
Incorrect
The answer is a.
The policies undertaken by Governments (national and sub-national levels) to reduce their deficits and accumulation of debt stock is called fiscal consolidation.
