Most Common GK Questions and Answers are a collection of frequently asked general knowledge questions and their corresponding answers. These Common GK Questions cover a broad range of topics such as history, geography, science, literature, sports, and current affairs. They are designed to test an individual's knowledge and understanding of the world around them.
Here, I am sharing Most Common GK Questions and Answers related to Indian History, Geography and Economics for those aspirants who are preparing for competitive exams. These questions can be used for educational purposes or for general knowledge quizzes and competitions. Knowing the answers to these questions can help individuals become more informed and engaged citizens and can also be helpful for various competitive exams.
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Q : Who among the following sitting Vice-Presidents of India contested for the office of the President and lost?
(A) S. Radhakrishnan
(B) V.V. Giri
(C) Bhairon Singh Shekhawat
(D) Both B and C
Who among the following is constitutionally empowered to make changes in the Scheduled Areas?
(A) Supreme Court
(B) High Court
(C) Prime Minister of India
(D) President of India
The president is empowered to declare an area to be a scheduled area. 2. The President can increase or decrease its area, alter its boundary lines in consultation with the governor of the state concerned.
Who appoints the Attorney General of India?
(A) Chief Justice of the Supreme Court
(B) Parliament
(C) Law Minister
(D) President
How many types of emergency can be declared in India?
(A) 5
(B) 6
(C) 2
(D) 3
Three types of emergencies are addressed in the Constitution of India: Nation Emergency, State Emergency, and Financial Emergency.
When a constitutional amendment bill is sent to the President, he
(A) withhold his consent
(B) return it to the Parliament for reconsideration
(C) delay it for a period not exceeding six months
(D) bound to give his consent
In the case of such bills, the President must give assent. He cannot return the bill or withhold it (unlike ordinary bills). After this, the bill becomes a Constitutional Amendment Act and the Constitution stands amended in accordance with the terms of the Act.
What is produced by monopolistic competition?
(A) close substitute
(B) perfect substitute
(C) complementary goods
(D) homogeneous objects
In which case the consumer surplus is maximum?
(A) Durable goods
(B) Vilas
(C) Rest
(D) Needs
Consumer surplus is highest in the case of necessities because consumers would be willing to pay a very high price as it is essential for their survival.
What else is micro economics called?
(A) Income theory
(B) Principle of investment
(C) Theory of price
(D) Principle of Expenditure
Micro economics is also known as Price theory because it takes into account the demand and supply of individual units and thus aims to determine the price of a product using the factors of production.
Who was the proponent of the dynamic theory of profit?
(A) Clarke
(B) Schumpeter
(C) Knight
(D) Halli
Dynamic theory of profit was advocated by J.B Clark. He stated that profits rise in that of type of economy where the things change. No profits will be generated n the static economy, where everything remains constant.
Who developed the innovative theory of profit?
(A) Walker
(B) Clarke
(C) Knight
(D) Schumpeter
The 'Innovation Theory of Profit' was proposed by Joseph. A. Schumpeter who believed that an entrepreneur can earn economic profits by introducing successful innovations.
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