Question : Comprehension:

In the following passage, some words have been deleted. Read the passage carefully and select the most appropriate option to fill in each blank.

Globalisation is not a new (1)_______. Traders travelled vast distances in ancient times to buy commodities that were (2) ______and expensive for sale in their homelands. The Industrial Revolution brought (3)_________ in transportation and communication in the 19th century that eased trade across borders. The think tank, Peterson Institute for International Economics (PIIE), states globalisation (4)________after World War I and nations moved toward (5)________ as they launched import taxes to more closely guard their industries in the aftermath of the conflict.

Select the most appropriate option to fill in the blank number 2.

Option 1: plentiful

Option 2: common

Option 3: preserved

Option 4: rare

Question : Comprehension:

In the following passage, some words have been deleted. Read the passage carefully and select the most appropriate option to fill in each blank.

Globalisation is not a new (1)_______. Traders travelled vast distances in ancient times to buy commodities that were (2) ______and expensive for sale in their homelands. The Industrial Revolution brought (3)_________ in transportation and communication in the 19th century that eased trade across borders. The think tank, Peterson Institute for International Economics (PIIE), states globalisation (4)________after World War I and nations moved toward (5)________ as they launched import taxes to more closely guard their industries in the aftermath of the conflict.

Select the most appropriate option to fill in the blank number 4.

Option 1: trooped

Option 2: soared

Option 3: de-escalated

Option 4: stalled

Question : Comprehension:
India is a diverse nation with many different cultures. Although some eating habits are considered staples of Indian cuisine, these habits may not be practiced by all the cultures of India. Cuisine differs across India's diverse regions as a result of variations in local culture, geographical location (proximity to the sea, desert, or mountains), and economics. It also varies seasonally, depending on which fruits and vegetables are ripe. Also, Middle Eastern and Central Asian influences have occurred in North Indian cuisine since the years of Mughal rule. Indian cuisine is still evolving as a result of the nation's cultural interactions with other societies.

Historical incidents such as foreign invasions, trade relations, and colonialism have played a role in introducing certain foods to the country. For instance, potato, a staple of the diet in some regions of India, was brought to India by the Portuguese, who also introduced chilies and breadfruit. Indian cuisine has shaped the history of international relations; the spice trade between India and Europe was the primary catalyst for Europe's Age of Discovery. Spices were bought from India and traded around Europe and Asia. Indian cuisine has influenced other cuisines across the world, especially those from Europe, the Middle East, North Africa, sub-Saharan Africa, Southeast Asia, the British Isles, Fiji, and the Caribbean.

Indian food is rich in flavor. However, spices do more than flavor a dish; they are also used to cool and warm the body during hot or cold weather. Yogurt is commonly used to flavor dishes or as a sauce to chill spicy dishes. Many Indian dishes are cooked in vegetable oil, but peanut oil is popular in northern and western India, mustard oil in eastern India, and coconut oil along the western coast, especially in Kerala. Gingelly (sesame) oil is common in the south since it imparts a fragrant, nutty aroma. In recent decades, sunflower, safflower, cottonseed, and soybean oils have become popular across India. Butter-based ghee, or deshi ghee, is used frequently, though less than in the past.

Based on the passage above, choose the correct option for the following question.

Question

According to the passage, choose the correct synonym of the word 'catalyst'.

Option 1: Micro

Option 2: Disregard

Option 3: Activator

Option 4: Animosity

Question : Statement 1: Positive economics deals with objective analysis and focuses on explaining economic phenomena as they are.

Statement 2: Normative economics involves subjective judgments and aims to prescribe what economic policies should be implemented.

Option 1: Statement 1 is true, and statement 2 is false.

Option 2: Statement 1 is false, and statement 2 is true.

Option 3: Both statements 1 and 2 are true.

Option 4: Both statements 1 and 2 are false.

Question : Gresham's law in economics relates to ___________.

Option 1: Supply and Demand

Option 2: Distribution of goods and services

Option 3: Consumption and Supply

Option 4: Circulation of currency

Question : "Economics is what it ought to be" - This statement refers to 

Option 1: Normative economics 

Option 2: Positive economics 

Option 3: Monetary economics 

Option 4: Fiscal economics 

Question : Which of the following is an example of positive economics?

Option 1: The government should invest more in renewable energy sources.

Option 2: Higher taxes on cigarettes will reduce smoking rates.

Option 3: Income inequality is a moral issue that needs to be addressed.

Option 4: Economic growth is essential for societal well-being.

Question : Statement 1: The term entrepreneur was introduced by French economist Richard Cantillon
Statement 2: The term entrepreneur was first introduced in economics by the early 19th century.

Option 1: Both are true 

Option 2: Both are false

Option 3: Statement 1 is true and statement 2 is false.

Option 4: Statement 1 is false and statement 2 is true.