Perfect competition has?
- Differentiated products
- Homogeneous products
- Single seller
- Barriers
Answer: Homogeneous products
All firms produce identical/homogeneous products.
Easy Level – GK Questions
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Necessities have highly elastic demand.
- True
- False
Answer: False
Necessities have highly inelastic demand.
Price elasticity > 1 means demand is?
- Inelastic
- Elastic
- Unitary
- Perfectly inelastic
Answer: Elastic
Ed > 1 indicates relatively elastic demand.
Indifference curves intersect.
- True
- False
Answer: False
ICs never intersect due to the property of transitivity.
Cardinal utility is measurable.
- True
- False
Answer: True
Cardinal approach assigns exact numerical values to utility.
Rightward shift in demand curve means ___ in demand.
- technological
- 66
- balance (or sum to zero)
- increase
Answer: increase
Rightward shift indicates higher demand at the same price.
Movement along demand curve is due to change in price.
- True
- False
Answer: True
Shifts are due to non-price factors like income.
Veblen goods are also known as ___ goods.
- snob
- 1965
- Net Factor Income from Abroad (NFIA)
- Ways and Means
Answer: snob
Snob/prestige goods violate the basic law of demand.
Demand curve slopes upward.
- True
- False
Answer: False
Demand curve slopes downward from left to right.
Law of demand shows?
- Inverse price-demand
- Direct price-demand
- Income-demand
- None
Answer: Inverse price-demand
Demand falls as price rises, ceteris paribus.
The author of '1984' and 'Animal Farm', George Orwell, was born with the real name ________.
- Eric Arthur Blair
- Aldous Leonard Huxley
- David Herbert Lawrence
- Evelyn Arthur St. John Waugh
Answer: Eric Arthur Blair
Eric Blair adopted the pen name George Orwell just before the publication of his first book, 'Down and Out in Paris and London', in 1933.
The American short-story writer William Sydney Porter is universally known by which pen name?
- Mark Twain
- O. Henry
- Jack London
- Ambrose Bierce
Answer: O. Henry
- Henry is famous for his wit, warmth, and surprise endings in stories like 'The Gift of the Magi' and 'The Last Leaf'.
The repetition of the same initial consonant sounds in a sequence of words, such as 'Peter Piper picked a peck', is called:
- Assonance
- Alliteration
- Rhyme
- Meter
Answer: Alliteration
Alliteration is a common poetic device used to create rhythm, mood, or emphasis through repeated consonant sounds at the beginning of words.
Words that imitate the natural sounds associated with the objects or actions they refer to, such as 'buzz', 'hiss', or 'splash', are examples of ________.
- Alliteration
- Onomatopoeia
- Assonance
- Consonance
Answer: Onomatopoeia
Onomatopoeia enhances the sensory experience of a poem or story by using words that phonetically resemble the sounds they describe.
Hyperbole is a figure of speech that involves extreme exaggeration for emphasis or comic effect, not meant to be taken literally.
- True
- False
Answer: True
Examples of hyperbole include 'I've told you a million times' or 'I'm so hungry I could eat a horse.'
Using mild or indirect words to substitute for harsh, blunt, or offensive terms (e.g., 'passed away' instead of 'died') is called:
- Euphemism
- Irony
- Sarcasm
- Litotes
Answer: Euphemism
Euphemisms are used to soften the impact of unpleasant realities, commonly found in politics, medicine, and everyday polite conversation.
Philip K. Dick's novel 'Do Androids Dream of Electric Sheep?', which questions the nature of humanity and empathy, was adapted into the iconic 1982 film ________.
- The Matrix
- Blade Runner
- Total Recall
- Minority Report
Answer: Blade Runner
Ridley Scott directed 'Blade Runner', starring Harrison Ford, which brought Dick's cyberpunk noir vision of a dystopian Los Angeles to the screen.
Alan Paton's classic 1948 novel 'Cry, the Beloved Country' primarily addresses:
- The horrors of the transatlantic slave trade
- The racial injustice and breakdown of tribal structures in South Africa
- The Indian indentured labor system in the Caribbean
- The partition of British India
Answer: The racial injustice and breakdown of tribal structures in South Africa
Paton's novel follows a Zulu priest, Stephen Kumalo, who travels to Johannesburg to find his son, highlighting the devastating social impacts of apartheid and urbanization.
The book 'Ace Against Odds' is the autobiography of Indian tennis star Sania Mirza.
- True
- False
Answer: True
Released in 2016, 'Ace Against Odds' chronicles Sania Mirza's journey, her triumphs on the court, and the controversies she faced off it.
The autobiography 'I Am Malala', detailing a young girl's fight for education against the Taliban, was co-authored by:
- Malala Yousafzai and Christina Lamb
- Malala Yousafzai and Arundhati Roy
- Malala Yousafzai and Fatima Bhutto
- Malala Yousafzai and Asne Seierstad
Answer: Malala Yousafzai and Christina Lamb
Malala Yousafzai co-wrote her memoir with British journalist Christina Lamb. It became a global bestseller and symbol of resistance for girls' education.