Quiz Details
Consider the following statements regarding World Trade Organization (WTO) are correct.
1.The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations.
2.After WTO came in to existence, General Agreement on Trade and Tariffs (GATT) ceased to exist.
[A] 1 only
[B] 2 only
[C] Both 1 and 2
[D] Neither 1 nor 2
Correct Answer: A [1 only]
Notes:
The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations.World Trade Organization, as an institution, was established in 1995. It replaced General Agreement on Trade and Tariffs (GATT) which was in place since 1946.The WTO officially commenced on 1 January 1995 under the Marrakesh Agreement, signed by 123 nations on 15 April 1994.India has been a member of GATT since 1948; hence it was party to Uruguay Round and a founding member of WTO.While WTO came in to existence in 1995, GATT didn’t cease to exist. It continues as WTO’s umbrella treaty for trade in goods.
The economic cost of food grains does not include which of the following?
[A] Minimum Support Price
[B] Procurement incidentals (for the public agency procuring)
[C] Cost of distribution
[D] Profit margin
Correct Answer: D [Profit margin]
Notes:
The economic cost of food grains procured by the Food Corporation of India (FCI) is a total of Minimum Support Price and bonus (if any) paid to the farmers plus the procurement incidentals and distribution cost. FCI’s economic cost has three main components – procurement cost, procurement price, and distribution cost. The procurement incidentals are the initial costs incurred during the procurement of foodgrains. The distribution costs include freight, handling charges, storage charges, losses during transit and establishment cost.
The term ‘Mankading’, sometimes seen in news is related to which sport?
[A] Hockey
[B] Football
[C] Cricket
[D] Chess
Correct Answer: C [Cricket]
Notes:
The term comes from the name of the legendary former Indian cricketer Vinoo Mankad. In 1947, when India were playing a series in Australia, Mankad dismissed opposition batsman Bill Brown twice by taking off the bails at the non-striker’s end before releasing the ball.
Consider the following statements regarding Attorney General for India are correct .
1.Attorney General for India is the Government of India’s first law officer, and has the right of audience in all courts of the country.
2.He is a member of the Union Cabinet.
[A] 1 only
[B] 2 only
[C] Both 1 and 2
[D] Neither 1 nor 2
Correct Answer: A [1 only]
Notes:
NavIC, or Navigation with Indian Constellation, is an independent stand-alone navigation satellite system developed by the Indian Space Research Organisation (ISRO).NavIC consists of eight satellites and covers the whole of India’s landmass and up to 1,500 km (930 miles) from its boundaries.Currently, NavIC’s use is limited. It is being used in public vehicle tracking in India, for providing emergency warning alerts to fishermen venturing into the deep sea where there is no terrestrial network connectivity, and for tracking and providing information related to natural disasters.
Consider the following statements regarding NavIC are correct.
1.NavIC is an independent stand-alone navigation satellite system developed by the Indian Space Research Organisation (ISRO).
2.It is being used in public vehicle tracking in India, for providing emergency warning alerts to fishermen venturing into the deep sea.
[A] 1 only
[B] 2 only
[C] Both 1 and 2
[D] Neither 1 nor 2
Correct Answer: C [Both 1 and 2]
Notes:
The Constitution of India places the post of the A-G on a special footing. The A-G is the Government of India’s first law officer, and has the right of audience in all courts of the country. Article 76(2) of the Constitution says “it shall be the duty of the Attorney-General to give advice to the Government of India upon such legal matters, and to perform such other duties of a legal character, as may from time to time be referred or assigned to him by the President”. The A-G is also supposed to “discharge the functions conferred on him by or under this Constitution or any other law for the time being in force”. Also, the A-G for India is not, like the A-G for England and Wales and the A-G of the United States, a member of the Cabinet.
