Economics 3

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WIN & SHINE IAS COACHING
 Types of Banks
 LPG
 Government Schemes
 Taxes

1. In 1991 , India Received how much of Money from IMF to repay external
Borrowings
a. $ 6 Million
b. $ 9 Billion
c. $ 7 Million
d. $ 12 Billion
2. Which of the Followings are Advantages of Libelization
1. Increase in Foreign exchange
2. Increase in consumption
3. Unbalanced Development
4. Reduction in External Borrowings
a. 1,2,4
b. 2,4
c. 1,2,3
d. All the above
3. Which of the Followings are Correct about Libelization
1. Increase in the investment Limit of small Industries
2. To Resolve Balance of payments crisis, the rupee was devalued against Foreign
Currencies
a. 1 only
b. 2 only
c. Both
d. None
4. Which company was First Privatized in India
a. Marudhi Udyog
b. India Scooters
c. Hindustan Zinc Ltd.

d. None
5. Which of the Followings are Advantages of Privitization
1. Increase in Efficiency
2. Increase in Competition
3. Lack of welfare
4. Reduction in Economic Burden
a. 1,4
b. 1,2,4
c. 2,3,4
d. All the above
6. Which are the Following reasons to Implement LPG in India
1. Increase in losses for public sector undertakings
2. Inflation
3. Mismanagement of the Firm
4. Low Foreign Exchanges
a. 2,3,4
b. 1,2,3,4
c. 1,3,,4
d. 1,4
7. Which of the Followings are Forms of Privatization
1. Disinvestment of PSU
2. Contraction of Public sectors
3. Sales of shares of Public Undertakings
a. 1,3
b. 2,3
c. 1,2,3

d. None
8. The RBI is governed by a Central Board of Directors , In that Board how
many members were appointed from various fields
a. 12
b. 7
c. 9
d. 10
9. “Central Bank may be defined as an institution charged with the responsibility
of managing the expansion and contraction of the volume of money in the interest
of the general Public welfare” defined by
a. Kent
b. De Kock
c. BIS
d. Adam Smith
10. The General bank of India was established in which year
a. 1791
b. 1809
c. 1840
d. 1786
11. In 1969 How many Banks were Nationalised in India
a. 10
b. 14
c. 21
d. 6
12. Bank of Calcutta was the First Joint stock bank established in which year
a. 1806
b. 1807

c. 1809
d. 1811
13. In Which year the Hilton Young Commission on Indian Currency and
Finance made recommendation to create Central Bank
a. 1936
b. 1949
c. 1926
d. None
14. RBI associated with Basel Committee on Banking supervision since which
year
a. 1997
b. 1987
c. 1998
d. 2110
15. Which of the Followings are Traditional Functions of RBI
1. Promptly Responding to New Challenges
2. Banker and Financial Advisor to the Govermment
3. Controller of Credit
a. 1,3
b. 2,3
c. 1,2,3
d. None
16. “It is the Ratio of Money and Money equivalents kept within the bank in
Proportion to the total time and Demand Liabilities with them” which type of
Credit control quoted here
a. Cash Reserve Ratio
b. Statutory Liquidity Ratio

c. Open Market Operations

d. None
17. Which of the Following is/are correctly matched below
Years Acts
a. 1872 The Indian Contract Act
b. 1930 Essential Goods Act
c. 1976 Prevention of Food Adulteration
d. None
18. “Consumerism is an attempt to enhance the rights and powers by buyers in
relation to sellers” said by
a. Kent
b. PV Smith
c. L. Massie
d. Philip Kotler
19. “consumerism not limited to organized efforts only but, is a social movement
seeking to augment the rights and powers of buyers in relation to sellers” said by
a. Kent
b. PV Smith
c. L. Massie
d. Philip Kotler
20. Which of the Following is consider as the Consumer Exploitation
1. Adulteration
2. Artificial Scarcity
3. Sub Stranded
4. False Advertisements
a. 1,2,3

b. 2,3,4
c. 2,4
d. All the Above
21. The Term Consumerism was 1st Coined in Period of
a. 1970’s
b. 1960’s
c. 1950’s
d. None
22. Which of the following sentences were Correct Given Below
1. As per Consumer Protection act 1986, Consumer is defined as “ A Person who buys
any goods and services for a consideration which has been paid or promised or partly
paid and partly promised or under any system of deferred payment is a consumer”
2. A consumer is one who consumes goods manufactured and sold by others or created
by nature and sold by others
a. 1 only
b. 2 only
c. Both
d. None
23. United Nation General Assembly Passed Resolution for consumer Protection
on
a. 1985
b. 1999
c. 1976
d. 2001
24. The Public Liability act passed in India in which year
a. 1998
b. 1991

c. 1995
d. 1996
25. COPRA act passed in which year
a. 1987
b. 1999
c. 1978
d. 1986
26. Which of the Following is incorrect about Consumer Protection act 1986
1. This act does not create rights or Liabilities, but it has emerged as new forum for the
settlement of disputes relation to the sale of goods or services
2. It seeks to protect and promote the interests of consumers
a. 1 only
b. 2 only
c. Both
d. None
27. Consumer Protection act 1986 provides for setting up of how many Forums
a. 2
b. 3
c. 4
d. 6
28. Which of the Following is correct about salient features of Consumer
Protection act 1986
1. Protecting consumers against products and services which are harmful to the health
of consumers
2. Ensuring consumers with supply of goods at fair quality
3. Protection consumers against the evil effect of competition
a. 1,2

b. 2,3
c. 1,2,3
d. None
29. “Caveat Emptor” is which word
a. Latin
b. Greek
c. English
d. Sanskrit
30. On which date Consumer Protection act 1986 passed
a. 27th November
b. 24th December
c. None
d. 22nd December
31. “The Right of safety, the right to be informed, the Right to choose and the
Right to be heard” is defined by
a. Kent
b. George Bush
c. John F Kennedy
d. PV Smith
32. “ A Consumer is the most important visitor on our Premises. He is not
dependent on us……” said by which leader
a. Jawaharlal Nehru
b. Mahatma Gandhi
c. Tagore
d. Kent

33. Which of the Following is/are correct about District Forum

1. As Per 1986 act establishment of the District Forum by the Central Government
2. The Central Government can establish more than one District Forum in a District if
it deems fit to do so
3. A Person who is or who has been or is qualified to be, a District Judge a sits
President
a. 1,2
b. 2 only
c. 3 only
d. All the above
34. The District Forum can entertain complaints within the territory of genuine
district and where the value of goods and services and the compensation if any
claimed is less than how many rupees
a. 20 Lakhs
b. 25 Lakhs
c. 1 Crore
d. None
35. Which of the Following is/are correct about State Consumer Disputes
Commission
1. A Person who is or has been a Judge of a High Court appointed by the State
Government as its President
2. The State Commission is to be appointed by the central Government
a. 1 only
b. 2 only
c. Both
d. None

36. Which of the Following is/are correct about National Consumer Disputes
Commission
1. The National Commission should have five members
2. One should be from Judiciary
3. It should include a woman
a. 1,2
b. 3 only
c. 2,3
d. All the above
37. As Per Consumer Protection Act 1986, the National Commission shall
entertain a Complaint valued how many Rupees
a. 1 crore
b. 10 crore
c. 50 Lakhs
d. None
38. Section 23 of Consumer Protection at, 1986 Provides that any Person
aggrieved by an order of National Commission may Prefer an Appeal against
such order to supreme court of India within a Period of how many days
a. 15 days
b. 30 days
c. 45 days
d. 60 days
39. The International Organisation of Consumers Union was First Established in
which year
a. 1970
b. 1960
c. 1950

d. 1980
40. Which of the Following is/are incorrectly matched below
Years Acts
a. 2009 The Legal Metrology Act
b. 1986 The Bureau of Indian Standards Act
c. 1980 Commodities Act
d. None
41. Which of the Following is/are correct about Consumer Protection act 2019
1. As Per new act any person who buys any goods, whether through only Offline
Mode transactions
2.As Per this act State Government can entertain disputes where such exceeds 10
Million Rupees
a. 1 only
b. 2 only
c. Both
d. None
42. Who is the father of Consumer Movement
a. Ralph Nadar
b. PV Smith
c. Kent
d. Shiva Nadar
43. The Right to Information act was passed on
a. 2nd October 2005
b. 12th October 2005
c. 22nd October 2005
d. None

44. Codex Alimentations commission was created in which year

a. 1965
b. 1963
c. 1977
d. 1999
45. The Government of Tamil Nadu Spearheaded the SHG in Dharmapuri
district with the assistance of International Fund for Agricultural development in
which year
a. 1989
b. 1999
c. 2007
d. 2011
46. The Government of India has set up the Atal Innovation Mission at NITI
AAYOG in which year
a. 2017
b. 2019
c. 2016
d. 2014
47. How many Non Scheduled commercial bank in India
a. 1
b. 5
c. 8
d. None
48. All Cooperative banks in Tamil Nadu are registered under Tamil Nadu
Cooperatives act in which year
a. 1983
b. 1986

c. 1998
d. None
49. How Many Land Development Banks in India
a. 1
b. 4
c. 15
d. None
50. National Cooperation Development established in which year
a. 1963
b. 1964
c. 1976
d. 1986
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WIN & SHINE IAS WIN & SHINE IAS WIN & SHINE IAS

WIN & SHINE

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WIN & SHINE IAS COACHING

CONTACT : 8072003274 WHATSAPP : 7708615766

CONTACT : 8072003274 WHATSAPP : 7708615766

CONTACT : 8072003274 WHATSAPP : 7708615766

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c. Open Market Operations

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33. Which of the Following is/are correct about District Forum

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44. Codex Alimentations commission was created in which year

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