The Odisha Subordinate Staff Selection Commission (OSSSC) conducts various recruitment exams, including those for the positions of Livestock Inspector (LSI), Forester, and Forest Guard (FG). A key aspect of these exams is testing candidates’ knowledge of Culture and economy. To help you prepare effectively, here are the top 30 Multiple Choice Questions (MCQs) along with their answers on Culture & Economy for OSSSC LSI, Forester, and FG exams.
Top 30 MCQs on Culture & Economy for OSSSC LSI, Forester, FG
Preparing for OSSSC LSI, Forester, and FG exams requires a comprehensive understanding of Odisha’s rich culture and economy. These top 30 MCQs and answers aim to enhance your knowledge and help you excel in the upcoming examinations. Good luck!
- When was the first five-year plan launched?
[A] 1950
[B] 1951
[C] 1952
[D] 1953
Correct Answer: B [1951] - In an inflationary trend, how are bank product prices affected?
[A] Increasing trend
[B] Decreasing trend
[C] No relevance to inflation
[D] Constant
Correct Answer: A [Increasing trend] - Which is the First Indian Special Economic Zone (SEZ)?
[A] Visakhapatnam SEZ
[B] Kandla SEZ
[C] Noida Special Economic Zone
[D] Cochin SEZ
Correct Answer: B [Kandla SEZ] - Who from India functions as the ex-officio Governor on the Board of Governors of the International Monetary Fund?
[A] President
[B] Prime Minister
[C] Finance Minister
[D] RBI Governor
Correct Answer: C [Finance Minister] - What does pump priming mainly involve?
[A] Increased government expenditure during recession
[B] Decreased government expenditure during recession
[C] Increased government income during recession
[D] Decreased government income during recession
Correct Answer: A [Increased government expenditure during recession] - Which institution was previously known as the Imperial Bank of India?
[A] State Bank of India
[B] Reserve Bank of India
[C] Punjab National Bank
[D] ICICI
Correct Answer: A [State Bank of India] - What is India’s oldest joint-stock bank?
[A] State Bank of India
[B] Bank of Baroda
[C] Bank of India
[D] Allahabad Bank
Correct Answer: D [Allahabad Bank] - What does the term “Mint Road” refer to?
[A] State Bank of India
[B] Reserve Bank of India
[C] Ministry of Finance
[D] Government of India Mint at Mumbai
Correct Answer: B [Reserve Bank of India] - Which fertilizer has the highest nitrogen content?
[A] Calcium Nitrate
[B] Anhydrous Ammonia
[C] Urea
[D] Ammonium Nitrate
Correct Answer: B [Anhydrous Ammonia] - Which of the following correctly represents the balance of trade?
[A] Visible exports – visible imports
[B] Total exports – total imports
[C] Invisible imports – visible imports
[D] Visible exports – invisible imports
Correct Answer: A [Visible exports – visible imports] - Who determines the distribution of shares in tax proceeds?
[A] Parliament
[B] Finance Commission
[C] Ministry of Finance
[D] Public Accounts Committee
Correct Answer: A [ Parliament ] - The Central Statistical Office (CSO) now measures economic growth by gross value-added (GVA) at basic prices, replacing the previous practice of measuring it by GDP at factor cost. What distinguishes GDP at factor cost from GVA at basic prices?
[A] Production taxes are included, and production subsidies are excluded from GVA at basic prices
[B] Production taxes are excluded, and production subsidies are included in GVA at basic prices
[C] Production taxes and production subsidies are included in GVA at basic prices
[D] Production taxes and production subsidies are excluded from GVA at basic prices
Correct Answer: A [ Production taxes are included, and production subsidies are excluded from GVA at basic prices ] - Which Public Sector Giant issued the world’s first Indian green masala bond?
[A] ONGC
[B] NTPC
[C] IOCL
[D] CIL
Correct Answer: B [NTPC] - If a company declares a 100% dividend, the shareholder will receive an amount equal to the ___
[A] Face Value of the Share
[B] Market Value of the Share
[C] Previous dividend announced
[D] Face Value or Market Value, whichever is higher
Correct Answer: A [Face Value of the Share] - Which organization serves as the Capital Market Regulator?
[A] NSE
[B] RBI
[C] SEBI
[D] IrDA
Correct Answer: C [SEBI] - What term describes the purchase of shares and bonds of Indian companies by Foreign Institutional Investors?
[A] FDI
[B] Portfolio Investment
[C] NRI Investment
[D] Foreign Indirect Investment
Correct Answer: D [Foreign Indirect Investment] - Who decides on the saving and loan activities within a Self-Help Group (SHG)?
[A] Private Bank
[B] Reserve Bank of India
[C] Members of the group
[D] Non-Government Organizations
Correct Answer: C [Members of the group] - Which neighboring country of India is not landlocked?
[A] Afghanistan
[B] Myanmar
[C] Nepal
[D] Bhutan
Correct Answer: B [Myanmar] - What is an Indian Depository Receipt?
[A] A deposit account with a public sector bank.
[B] A depository account with any of the depositories in India.
[C] An instrument in the form of a depository receipt.
[D] An instrument in the form of a deposit receipt issued by Indian depositories.
Correct Answer: A [A deposit account with a public sector bank.] - What should an investor do to form a portfolio that lies to the right of the optimal risky portfolio on the Capital Allocation Line?
[A] Lend some of her money at the risk-free rate and invest the remainder in the optimal risky portfolio
[B] Borrow some money at the risk-free rate and invest in the optimal risky portfolio
[C] Such a portfolio cannot be formed
[D] None of the above
Correct Answer: B [Borrow some money at the risk-free rate and invest in the optimal risky portfolio] - What is the minimum capital adequacy requirement for IDF-NBFC?
[A] 10%
[B] 15%
[C] 18%
[D] 20%
Correct Answer: B [15%] - Which of the following are the specialized wings of NITI Aayog?
Research Wing
Consultancy Wing
Team India Wing
Select the correct option from the codes given below:
[A] Only 1
[B] Only 2
[C] Only 2 & 3
[D] 1, 2 & 3
Correct Answer: D [1, 2 & 3] - Who among the following gave Communist Manifesto?
[A] Adam Smith
[B] Karl Marx and Friedrich Engels
[C] Alfred Marshall
[D] James Tobin
Correct Answer: B [Karl Marx and Friedrich Engels] - Who is called the founding father of modern economics?
[A] J.S. Mill
[B] Karl Marx
[C] David Ricardo
[D] Adam Smith
Correct Answer: D [Adam Smith] - Which of the following is / are correct statements regarding the organized sector?
They are controlled by the government
The employment terms are fixed
It provides low wages
The sector is registered with the government.
Choose the correct option from the choices given below:
[A] 1 and 2 only
[B] 2 and 3 only
[C] 1 and 4 only
[D] All of the above
Correct Answer: C [1 and 4 only] - Which sector do red collar workers belong to?
[A] Primary sector
[B] Secondary sector
[C] Tertiary sector
[D] None of the above
Correct Answer: A [Primary sector] - Which sector contributed the maximum to GDP at the time of Independence?
[A] Agriculture
[B] Services
[C] Manufacturing
[D] None of the above
Correct Answer: A [Agriculture] - Which country is the world’s largest palm oil exporter?
[A] Indonesia
[B] Malaysia
[C] India
[D] Brazil
Correct Answer: A [Indonesia] - Which among the following power plants of India created a world record for the longest uninterrupted operation?
[A] Kaiga Atomic Power Station
[B] Kudankulam Nuclear Power Plant
[C] Kakrapar Atomic Power Station
[D] Tarapur Atomic Power Station
Correct Answer: A [Kaiga Atomic Power Station] - What is the contribution of agriculture to Indian GDP?
[A] 32%
[B] 41%
[C] 29%
[D] 17%
Correct Answer: D [17%]
