Preparing for the Odisha Sub-ordinate Staff Selection Commission (OSSSC) Lower Secondary Investigator (LSI) and Forester exams requires a comprehensive understanding of various subjects, including culture and economy. To assist candidates in their preparation, here are the top 30 Multiple Choice Questions (MCQs) covering culture and economy, which are frequently asked in such examinations.
Top 30 Culture and Economy MCQs for OSSSC LSI, Forester, FG
These 30 MCQs cover various aspects of culture and economy, providing a comprehensive review for candidates preparing for the OSSSC LSI and Forester exams. Regular practice and thorough understanding of these concepts will undoubtedly enhance your chances of success in the examination. Best of luck!
- Who currently serves as the chairman of the Bank Board Bureau?
[A] Vinod Rai
[B] N. Gopalaswami
[C] Wajahat Habibullah
[D] Bhanu Pratap Sharma
Correct Answer: D [Bhanu Pratap Sharma] - What was the first paper currency issued by RBI?
[A] Rs 1-Note
[B] Rs 2-Note
[C] Rs 5 Note
[D] Rs 100 Note
Correct Answer: C [Rs 5 Note] - Interest Rate Policy is a component of which of the following?
[A] Fiscal Policy
[B] Monetary Policy
[C] Industrial Policy
[D] All of the above
Correct Answer: B [Monetary Policy] - In which country are the maximum number of branches of Indian Banks located?
[A] UK
[B] USA
[C] Hong Kong
[D] Australia
Correct Answer: A [UK] - With which of the following is fiscal policy related?
[A] Open Market Operations
[B] Change in Reserve Requirements
[C] Liquidity Adjustment Facility
[D] Taxation and Government Spending
Correct Answer: D [Taxation and Government Spending] - The term “round-tripping” in the context of Foreign Direct Investments is related to which of the following?
[A] Use of FDI Funds out of the Country
[B] Coming Back of Domestic Money as FDI
[C] Sending Back of Domestic Money as FDI
[D] Repatriation of the FDI made abroad
Correct Answer: B [Coming Back of Domestic Money as FDI] - The Laffer curve represents the relationship between:
[A] Tax rates and absolute revenue generated for the government.
[B] The inverse relationship between the rate of unemployment and inflation.
[C] Income distribution inequality.
[D] Environmental quality and economic development.
Correct Answer: A [Tax rates and absolute revenue generated for the government.] - Which of the following Price Indices of India is used for measuring ‘Headline Inflation’?
[A] GDP Deflator
[B] CPI-AL/RL
[C] CPI-IW
[D] WPI
Correct Answer: D [WPI] - When is the term “Open Unemployment” used?
[A] When people are not willing to work
[B] When people are willing but unable to find work
[C] When people leave their jobs in search of better ones
[D] When people have jobs but receive irregular payments
Correct Answer: B [When people are willing but unable to find work] - Which body regulates cooperative banks in India?
[A] Reserve Bank of India
[B] Small Industries Development Bank of India
[C] National Bank for Agriculture and Rural Development
[D] National Cooperative Union of India
Correct Answer: A [Reserve Bank of India] - What is India’s global rank in cotton production?
[A] First
[B] Fourth
[C] Second
[D] Fifth
Correct Answer: C [Second] - Which industry is the largest consumer of water in India?
[A] Engineering
[B] Paper and pulp
[C] Textiles
[D] Thermal power
Correct Answer: C [Textiles] - When was the Banking Ombudsman scheme first introduced in India?
[A] 1995
[B] 1998
[C] 1999
[D] 2001
Correct Answer: A [1995] - In which year did the State Bank of India start merchant banking?
[A] 1974
[B] 1978
[C] 1973
[D] 1980
Correct Answer: C [1973] - Among the listed energy sources, which is non-conventional in present-day rural India?
[A] Fuel wood
[B] Cow-dung cake
[C] Biogas
[D] Hydel
Correct Answer: C [Biogas] - Who were the first to start a joint stock company to trade with India?
[A] Portuguese
[B] Dutch
[C] French
[D] Danish
Correct Answer: B [Dutch] - What does marginal utility signify in economics?
[A] Small utility
[B] Additional utility
[C] Minimum utility
[D] Satisfied utility
Correct Answer: B [Additional utility] - Which is not a part of the factors of production?
[A] Land
[B] Labour
[C] Capital
[D] Wages
Correct Answer: D [Wages] - Which economic systems don’t have profit-making as a motive?
Socialist
Market
Mixed
Traditional
Choose the correct option from the choices given below:
[A] 1 and 2
[B] 2 and 3
[C] 3 and 4
[D] 1 and 4
Correct Answer: D [1 and 4] - Which conditions are expected in the Unorganised sector?
Paid Holidays
Lack of proper working conditions
Social security from employers
Lack of protection from legislations
Choose the correct option from the codes given below:
[A] 1 and 2 only
[B] 3 and 4 only
[C] 1, 2 and 4 only
[D] 2 and 4 only
Correct Answer: D [2 and 4 only] - Which economic system does not prioritize profit-making as a motive?
[A] Socialist
[B] Market
[C] Mixed
[D] Traditional
Correct Answer: [D] 1 and 4 - Which category does not belong to the Public sector classification?
[A] Maharatna
[B] Miniratna
[C] Navratna
[D] Megaratna
Correct Answer: [D] Megaratna - What was the first five-year plan known as?
[A] Mahalonibis Model
[B] Bombay Plan
[C] Harrod Domar plan
[D] None of these
Correct Answer: [C] Harrod Domar plan - What is India’s rank in oilseeds production worldwide?
[A] 3
[B] 2
[C] 1
[D] 4
Correct Answer: [D] 4 - When was the PESA act passed?
[A] 1997
[B] 1996
[C] 1998
[D] 2000
Correct Answer: [B] 1996 - In which forest does the shrub Neelakurinji blossom?
[A] Nilgiri Biosphere reserve
[B] Gir forests
[C] Jim Corbett National park
[D] None of the above
Correct Answer: [A] Nilgiri Biosphere reserve - Which source, after fossil fuels, contributes the most to India’s energy needs?
[A] Hydro power
[B] Solar power
[C] Nuclear power
[D] Wind power
Correct Answer: [A] Hydro power - Where is the Central Institute of Freshwater Aquaculture (CIFA) located?
[A] Bhubaneswar
[B] Hyderabad
[C] Visakhapatnam
[D] Chennai
Correct Answer: [A] Bhubaneswar - What is the FDI limit in the automobile sector under the automatic route?
[A] 75%
[B] 100%
[C] 51%
[D] 49%
Correct Answer: [B] 100% - What is India’s rank in gold consumption worldwide?
[A] 3
[B] 2
[C] 1
[D] None of the above
Correct Answer: [B] 2
