Economics (Part-VI) (Railway)

Total Questions: 57

51. A___________ is a retail establishment that combines a department store and a grocery supermarket. [RRB Group 'D' CBT Exam, 11.10.2022 (Shift-II)]

(1) hitmart
(2) supermarket
(3) hypermarket
(4) minimart

Correct Answer: (3) hypermarket

Solution:A hypermarket is a retail store that combines a department store and a grocery supermarket.

• The idea behind hypermarkets is to provide consumers with all the goods they require under one roof.

• Often a very large establishment, hypermarkets offer a wide variety of products such as appliances, clothing, and groceries.

52. Which of the following states has started the 'Kudum-bashree' programme which plays a vital role in enhancing the financial status of the less privileged women in the state through its thrift and credit programme? [RRB Group 'D' CBT Exam, 11.10.2022 (Shift-II)]

(1) Kerala
(2) West Bengal
(3) Odisha
(4) Assam

Correct Answer: (1) Kerala

Solution:Kudumbashree is the poverty eradication and women empowerment programme implemented by the State Poverty Eradication Mission (SPEM) of the Government of Kerala.

• The name Kudumbashree in Malayalam language means 'prosperity of the family'.

• Kudumbashree was set up in 1997.

53. What are the four factors of production? [RRB Group 'D' CBT Exam, 11.10.2022 (Shift-III)]

(1) Labour, transportation, excise duty and entrepreneurship
(2) Man power, transportation, excise duty and import
(3) Capital, transportation, excise duty and entrepreneurship
(4) Land, labour, capital and entrepreneurship

Correct Answer: (4) Land, labour, capital and entrepreneurship

Solution:In economies, factors of production are the resources people use to produce goods and services.

• Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.

54. In 1955 a special committee known as the Karve Committee was constituted. This committee advised: [RRB Group 'D' CBT Exam, 11.10.2022 (Shift-III)]

(1) the promotion of small scale industries for the purpose of rural development
(2) the promotion of the agriculture sector
(3) the rapid export of cotton and fresh fruits
(4) the promotion of large industries for the purpose of urban development

Correct Answer: (1) the promotion of small scale industries for the purpose of rural development

Solution:The Karve Committee, also known as the village and small-scale industries committee, was set up in 1955.

It was set up to find out the potential of utilizing small scale industry for promoting rural development.

55. What is the repo rate? [RRC NWR Jaipur GDCE ALP Exam, 22.07.2023 (Shift-II)]

(1) The rate at which RBI borrows money from commercial banks.
(2) The rate at which the government lends money to the RBI.
(3) The rate at which the government borrows money from the RBI.
(4) The rate at which commercial banks borrow money from the RBI.

Correct Answer: (4) The rate at which commercial banks borrow money from the RBI.

Solution:Repo rate can be defined as an amount of interest that is charged by the Reserve Bank of India while lending funds to the commercial banks.

• The word 'Repo' stands for 'Repurchasing Option' or 'Repurchase Agreement'.

• The reverse repo rate is the rate of interest that is provided by the Reserve bank of India while borrowing money from the commercial banks.

56. Which institution replaced the Indian Planning Commission? [RRC NWR Jaipur GDCE ALP Exam, 22.07.2023 (Shift-II)]

(1) NITI Aayog
(2) Finance Commission
(3) Reserve Bank of India
(4) Ministry of Commerce

Correct Answer: (1) NITI Aayog

Solution:The Planning Commission was replaced with the NITI (National Institution for Transforming India) Aayog on 1 January, 2015.

• The Planning Commission was formed by the first Prime Minister of India Pandit Jawahar lal Nehru on March 15, 1950.

57. Which agency is responsible for the regulation of stock market in India? [RRC NWR Jalpur GDCE ALP Exam, 22.07.2023 (Shift-II)]

(1) National Stock Exchange (NSE)
(2) Reserve Bank of India (RBI)
(3) Bombay Stock Exchange (BSE)
(4) Securities and Exchange Board of India (SEBI)

Correct Answer: (4) Securities and Exchange Board of India (SEBI)

Solution:Securities and Exchange Board of India (SEBI) is a regulator of the securities market.

• SEBI is a statutory body that was established under the pro visions of the Security and Exchange Board of India Act 1992.

• SEBI comes under the control of the Ministry of Finance.

• The headquarters of SEBI is situated in Mumbai.

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