Explore topic-wise InterviewSolutions in Current Affairs.

Capital is a natural factor of production. – False

Explanation:

The above statement is incorrect. Capital includes money invested in the business, machinery and tools which are produced and invested in by the human beings. Unlike land, capital is not a natural factor of production. It is not a gift of nature. Rather, it is a man-made factor of production. Thus, capital is regarded as an artificial factor of production.

Correct option is (c) Capital

Importance of Land: No production is possible without land. It is, therefore, the most indispensable factor of production. 

Its importance lies in the following ways:

• The Economic Development of a country depends on land. 
• Development of primary industries. 
• Development of manufacturing industries. 
• Development of means of transport and communication.

Capital is a artificial factor of production.

Explanation:

Capital includes all the capital goods or assets used in production. Since capital is not a gift of nature, and is a man made factor of production, it is regarded as an artificial factor of production.

Narsinh Mehta

Correct answer is Guru Nanak

Demerits of Multinational Corporation: 

(i) Danger for Domestic Industries : Multinational Corporations have vast economic power so they are danger to domestic industries which are still in process of development. Domestic industries not so powerful to face the challenges of Multinational Corporation.

(ii) C reate Problem for Environment: Profit is sole objective of multinational corporation. Such companies damage environment of developing countries. To lower the price of goods they dump lower standard quality product which harms local soil, water and air.

(iii) O utsourcing of Job: Normally MNCs outsource the job work due to lower cost, due to this their liabilities towards employees are reduced.

(iv) Misuse of Mighty Status : Multinational Corporations have powerful financial strength because of huge capital. They can afford to bear losses for a long while in the hope of earning huge profits. They have ended local competition and achieved monopoly. This may be unfair.

Merits of Government Company: 

(i) Profitability and Accountability : It works on business principles and follows commercial approach. Though not profit oriented like private sector, it does make reasonable profit which is used for public welfare, modernisation, renovation and development. Moreover, its performance can be evaluated by the Parliament as it has public accountability.

(ii) Internal Autonomy: Government Company enjoys financial and administrative autonomy. Its dependence on Government authority is minimum. It has its own capital structure, financial plan, borrowing powers and so on.

(iii) Government Ownership ; The ownership of the government company rests with Central or State Government who owns major capital of the company and as such looks after its management and control. Government always promotes public welfare.

(iv) Foreign Capital and Technical Know how : As the government provides 51% of the capital, the rest 49% can be raised through foreign investment. By seeking foreign capital, Government companies bring advanced technology and technical know how.

1. A Statutory corporation is an autonomous corporate body. 

2. Statutory corporation is an artificial person created by law and it has an independent legal entity. 

3. Employees are not government servants. 

4. A statutory corporation enjoys financial autonomy or independence. 

5. A statutory corporation comes into existence by following particular act, therefore, there is no political interference in formation. 

6. Thus, all statutory corporations are free from political interference.

1. Departmental Organisations are the oldest forms of public enterprises. 

2. Indian railways, post office, defence, All India Radio are the Departmental Organisations. 

3. Indian Railways give services to public. 

4. Main objective of Departmental Organisations is to provide services to public. 

5. Private sector aims at profit maximization while public sector aims to providing reliable services to customers. 

6. Thus, Departmental Organisations are run for providing public services.

(D) All of these

1. False

2. True

Correct option is (c) 50

Role of Promoter:

• To conceive (discover) the idea of forming a business.
• To decide aims and objects of business, amount of capital, scale/size of business, etc.
• Drafting the ‘Memorandum of Association’ and ‘Articles of Association’.
• Drafting Prospectus to invite investors.
• To appoint first directors and first subscribers to Memorandum of Association and Articles of Association.
• To enter into ‘Preliminary Contract’ like hiring office premises, preparing and drafting Memorandum of Association and Articles of Association.

(i) Small Scale

(ii) second

(iii) low

Yes. In a situation of support price (which is the minimum price assured to the producers) market price ought to be equal or greater than the support price.

In case of increase in excise tax, equilibrium price tends to increase.

Owing to a forward shift in demand curve, equilibrium price tends to increases.

Price is greater than MC in a situation of  monopoly.

Yes. Because, fearing shortage, demand curve for rice will shift forward, causing a rise in equilibrium price.

Correct option is (a) SSI

Correct option is  (b) Migrations

Price is equal to MC in a situation of perfect competition.

A person/a group of persons who take initiative efforts for a formation of a company is/are called as ‘Promoter/s’.

Perfect competition has the following features: 

(a) There are a large number of buyers and sellers in the market. 

(b) Product is homogeneous. 

(c) There is free entry and exit of firms.

Common features of perfect competition and monopolistic competition are  (i) large number of buyers and sellers (ii) freedom of entry and exit of firms.

(a) There must be a single seller of the commodity. 

(b) No close substitute of the product of the firm is available. 

(c) There are barriers to entry. The barriers can be economic, institutional or artificial in nature. These barriers are so strong that they prevent entry of any firm except the one firm which is already in the field.

It is a market situation which has both the competitive elements and monopolistic elements. 

It has the following features : 

(a) There are a large number of sellers and buyers. 

(b) There is free entry and exit in the long run. 

(c) There is product differentiation i.e. each firm produces a brand that is unique and different from what other firm produces. 

Lack of symmetry in a frequency distribution is called skewness.

A frequency distribution in which the observations of the population are evenly distributed on both the sides of the mode is called symmetric frequency distribution.

The project provided term loans and subsidy to small and marginal farmers for setting up tube wells and pumping sets. 50 per cent of total amount of this project per year was spent on the farmers belonging to the scheduled castes as well as the scheduled tribes.

MNREGA offers a unique, right – based guarantee of employment to reduce poverty and ensures food security in rural areas. India is the first such country in the world where guaranteed employment scheme in rural areas has been enacted. This program was started on 2 February 2006 and was implemented in the entire country on 1^st April 2008. At present, working days in MNREGA have been increased to 150 from 100 per year.

Role of MNREGA in India: MNREGA is a demand – based plan under which water conservation, forestry, land development, flood control, construction and repair of roads, etc. programs have been included. With the help of MNREGA, purchasing power of every engaged labourer has increased and it also has affected the private sector so that the wages have increased in private sector.

In the year 2004 – 15, Rs. 33,000 crore were allotted for MNREGA, while in the year 2012 – 13, Rs. 30,000 crore were invested on the project by the Central Government of India. In 2013 – 14, about 4.39 crore families got employment through MNREGA. At the National level, the wages which were only ? 65 per day per capita in 2006-07 were increased to Rs.181 per day in 2015.

The Objectives of MNREGA In India: 

For implementing MNREGA in India, the following aims have been fixed.

1. Providing unskilled work for rural population in the rural areas. 

2. Ensuring complete openness and ownership in the governance. 

3. Formation of rural assets of utility. 

4. Ensuring sustainable development by developing natural resources such as land and water. 

5. Providing an important role to the Panchayati Raj Institutions. 

6. Providing a security system to the rural poor and giving encouragement to local economy. 

7. Ensuring empowerment of rural women.

In this way, MNREGA 2005 is a major piece of legislation which reaffirmed position of India as being a we’fare state. At the present time, it is widely hailed as definitely securing social justice to every section of society, which had until then remained largely ignored and sidelined.

This plan was started on 1st April 2001 and it provides 10 kg of food grains to senior citizens (above 65 years of age) per month.

The selection of the areas for food for work scheme was made by planning commission on the basis of advice of central and state governments.

The plan was started on 25 Dec. 2000. Its objective was to link every village with a minimum population of 500 (in hilly and desert areas – 250) to roads.

Antyodaya Anna Yojana provides BPL families 25 kg of wheat at Rs. 2 per kg and rice at Rs. 3 per kg per month.

Under TRYSEM, the training for agricultural and related activities, industry, services and to obtain the skill for self employment is provided.

The works like digging wells for drinking water, to construct school – buildings, hospitals, rural roads, minor irrigation-sources, soil conservation, etc. were recommended under J.R.Yojana.

The 20 – point program was announced and implemented in 1975. Its main aim was to improve the living standard of poor and the deprived population.

Dedifferentiation.

1. Vijaya Bank account will be debited.
2. Cash account will be credited.

Ability of plant is plasticity.

(i) It is a big industry in India. It is primarily exportoriented. 

(ii) The Council for Leather Export is the main trade promotion organization for Indian leather Industry.

(iii) The Indian leather industry contributes almost 13% of world’s leather production. 

(iv) India is the second largest producer of footwear and leather garments in the world.

The heterophylly

Auxins, gibberellins and cytokinins.

Amino acid tryptophan is precursor of Indole acetic acid (IAA).

Warren Hastings.

The cross made between individuals of a species, considering the inheritance of the contrasting pair of a single character.

The genetic constitution of an organism is called genotype.