Question : Which of the following statements is correct regarding the production possibility frontier?
I. It gives the combinations between two goods that can be produced when the resources of the economy are fully utilised.
II. It illustrates the production possibilities of the economy.
Option 1: Only I
Option 2: Only II
Option 3: Both I and II
Option 4: Neither I nor II
Correct Answer: Both I and II
Solution : The correct answer is Both I and II.
A graph known as the production possibilities curve (PPC) illustrates every possible output combination that is currently possible with available resources and technological advancements. The PPC, also known as the production possibilities frontier (PPF), is a diagram that shows trade-offs and scarcity.
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Question : Which of the given statements concerning the National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) is correct?
i. NAFED is registered under the Multi-State Co-operative Societies Act.
ii. It was set up to promote Cooperative marketing of agricultural produce to benefit farmers.
iii. It was established in 1956.
Option 1: i, ii and iii
Option 2: Only ii
Option 3: Only ii and iii
Option 4: Only i and ii
Question : Directions: In the following question below, some statements are followed by some conclusions. Taking the given statements to be true, even if they seem to be at variance from commonly known facts, read all the conclusions and then decide which of the given conclusions logically follows from the given statements. Statements: I. We are going back again to our ancestors and finding out the importance of Yoga and Pranayam. II. People in the West have already opted for it. It does not require any external equipment but only body and soul. Conclusions: I. Ancient science is the treasure of many cures and natural remedies for various diseases. II. Technology has overshadowed these ancient sources and introduced new concepts of fitness called gym.
Option 1: Only conclusion II follows
Option 2: Conclusions I and II both follow
Option 3: Neither I nor II follows
Option 4: Only conclusions I follows
Question : Directions: In the following question, two statements are given, each followed by two conclusions I and II. You have to consider the statement to be true, even if it seems to be at variance from commonly known facts. You have to decide which of the given conclusions, if any, follows from the given statements. Statements: I. The pass percentage in the subject of Political Science is very low as compared to others in the same curriculum. II. The students who were admitted to the program did not study Political Science earlier. Conclusions: I. The foundation of the subject is very important for a student to perform well in examinations. II. Political Science is a generic subject, and students can attempt it without any problem.
Option 2: Conclusion I and II both follow
Option 4: Only conclusion I follows
Question : Directions: In the following question, three statements are given followed by two conclusions I, II, III and IV. You have to consider the statements to be true, even if it is seem to be at variance from commonly known facts. You have to decide which of the given conclusions, if any, follow from the given statements. Statements: A. Rabindranath Tagore wrote many poems. B. Every poet has aesthetic knowledge. C. Aesthetic is a part of the axiological study. Conclusions: I. Rabindranath Tagore did a different axiological study. II. He followed the base of logic and ethics.
Option 1: Only conclusion I follows
Option 2: Both conclusions I and II follow
Option 3: Only conclusion II follows
Option 4: None of these
Question : Directions: In the following question, one statement is given followed by two assumptions I and II. You have to consider the statement to be true, even if it seems to be at variance from commonly known facts. You have to decide which of the given assumptions, if any, follows from the given statement. Statement: "There is very heavy traffic on the road between 5 to 7 pm. We need to have a flyover in this area". A planning engineer said in a meeting. Assumptions: I. Heavy traffic should be regulated. II. Previous planning engineers did not do much about heavy traffic.
Option 1: Both I and II are implicit
Option 2: Only assumption I is implicit
Option 3: Only assumption II is implicit
Option 4: Neither I nor II is implicit
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