UPSC Static Quiz – Economy : 3 February 2025
Kartavya Desk Staff
UPSC Static Quiz – Economy : 3 February 2025 We will post 5 questions daily on static topics mentioned in the UPSC civil services preliminary examination syllabus. Each week will focus on a specific topic from the syllabus, such as History of India and Indian National Movement, Indian and World Geography, and more.We are excited to bring you our daily UPSC Static Quiz, designed to help you prepare for the UPSC Civil Services Preliminary Examination. Each day, we will post 5 questions on static topics mentioned in the UPSC syllabus. This week, we are focusing on Indian and World Geography.
Why Participate in the UPSC Static Quiz?
Participating in daily quizzes helps reinforce your knowledge and identify areas that need improvement. Regular practice will enhance your recall abilities and boost your confidence for the examination. By covering various topics throughout the week, you ensure a comprehensive revision of the syllabus.
#### Quiz-summary
0 of 5 questions completed
Questions:
#### Information
Best of Luck! 🙂
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading...
You must sign in or sign up to start the quiz.
You have to finish following quiz, to start this quiz:
0 of 5 questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 points, (0)
#### Categories
• Not categorized 0%
• Question 1 of 5 1. Question Consider the following statements Power exchanges in India. Power exchanges facilitate competitive pricing and greater market liquidity in the power sector. The Electricity Act of 2003 established the framework for exchange operations in India. Indian Energy Exchange Ltd (IEX) is the only power exchange in India, regulated by the Central Electricity Regulatory Commission (CERC). Which of the above statements is/are correct? a) 1 only b) 1 and 3 only c) 1 and 2 only d) 1, 2, and 3 Correct Solution: c) Power markets are hosted on a power exchange. Exchanges facilitate competitive pricing, improved resource allocation, and greater market liquidity in the power sector. Power exchanges were first introduced in Europe in 1990-91, and they now operate in about 50 countries around the world. The Electricity Act of 2003 established the framework for exchange operations in India, and exchanges commenced in 2008. The spot market was introduced in 2020, which further enhanced the flexibility and responsiveness of the power trading system. India has three major power exchanges regulated by the Central Electricity Regulatory Commission (CERC), where generators, utilities, and large consumers trade electricity. The Indian Energy Exchange Ltd (IEX) dominates with more than 90% market share, followed by Power Exchange India Limited (PXIL) and Hindustan Power Exchange Ltd (HPX). Incorrect Solution: c) Power markets are hosted on a power exchange. Exchanges facilitate competitive pricing, improved resource allocation, and greater market liquidity in the power sector. Power exchanges were first introduced in Europe in 1990-91, and they now operate in about 50 countries around the world. The Electricity Act of 2003 established the framework for exchange operations in India, and exchanges commenced in 2008. The spot market was introduced in 2020, which further enhanced the flexibility and responsiveness of the power trading system. India has three major power exchanges regulated by the Central Electricity Regulatory Commission (CERC), where generators, utilities, and large consumers trade electricity. The Indian Energy Exchange Ltd (IEX) dominates with more than 90% market share, followed by Power Exchange India Limited (PXIL) and Hindustan Power Exchange Ltd (HPX).
#### 1. Question
Consider the following statements Power exchanges in India.
• Power exchanges facilitate competitive pricing and greater market liquidity in the power sector.
• The Electricity Act of 2003 established the framework for exchange operations in India.
• Indian Energy Exchange Ltd (IEX) is the only power exchange in India, regulated by the Central Electricity Regulatory Commission (CERC).
Which of the above statements is/are correct?
• b) 1 and 3 only
• c) 1 and 2 only
• d) 1, 2, and 3
Solution: c)
Power markets are hosted on a power exchange. Exchanges facilitate competitive pricing, improved resource allocation, and greater market liquidity in the power sector.
Power exchanges were first introduced in Europe in 1990-91, and they now operate in about 50 countries around the world. The Electricity Act of 2003 established the framework for exchange operations in India, and exchanges commenced in 2008.
The spot market was introduced in 2020, which further enhanced the flexibility and responsiveness of the power trading system.
India has three major power exchanges regulated by the Central Electricity Regulatory Commission (CERC), where generators, utilities, and large consumers trade electricity. The Indian Energy Exchange Ltd (IEX) dominates with more than 90% market share, followed by Power Exchange India Limited (PXIL) and Hindustan Power Exchange Ltd (HPX).
Solution: c)
Power markets are hosted on a power exchange. Exchanges facilitate competitive pricing, improved resource allocation, and greater market liquidity in the power sector.
Power exchanges were first introduced in Europe in 1990-91, and they now operate in about 50 countries around the world. The Electricity Act of 2003 established the framework for exchange operations in India, and exchanges commenced in 2008.
The spot market was introduced in 2020, which further enhanced the flexibility and responsiveness of the power trading system.
India has three major power exchanges regulated by the Central Electricity Regulatory Commission (CERC), where generators, utilities, and large consumers trade electricity. The Indian Energy Exchange Ltd (IEX) dominates with more than 90% market share, followed by Power Exchange India Limited (PXIL) and Hindustan Power Exchange Ltd (HPX).
• Question 2 of 5 2. Question Consider the following statements. Lorenz Curve represents inequality of the wealth distribution. A Gini Coefficient of one means that everyone has the same income, while a Gini Coefficient of zero represents a single individual receiving all the income. Which of the above statements is/are incorrect? a) 1 only b) 2 only c) Both 1 and 2 d) Neither 1 nor 2 Correct Solution: b) Gini Coefficient: It is derived from the Lorenz Curve. It can be used as an indicator of economic development in a country. The Gini Coefficient measures the degree of income equality in a population. The Gini Coefficient can vary from 0 (perfect equality) to 1 (perfect inequality). A Gini Coefficient of zero means that everyone has the same income, while a Coefficient of 1 represents a single individual receiving all the income. Incorrect Solution: b) Gini Coefficient: It is derived from the Lorenz Curve. It can be used as an indicator of economic development in a country. The Gini Coefficient measures the degree of income equality in a population. The Gini Coefficient can vary from 0 (perfect equality) to 1 (perfect inequality). A Gini Coefficient of zero means that everyone has the same income, while a Coefficient of 1 represents a single individual receiving all the income.
#### 2. Question
Consider the following statements.
• Lorenz Curve represents inequality of the wealth distribution.
• A Gini Coefficient of one means that everyone has the same income, while a Gini Coefficient of zero represents a single individual receiving all the income.
Which of the above statements is/are incorrect?
• c) Both 1 and 2
• d) Neither 1 nor 2
Solution: b)
Gini Coefficient:
• It is derived from the Lorenz Curve.
• It can be used as an indicator of economic development in a country.
• The Gini Coefficient measures the degree of income equality in a population.
• The Gini Coefficient can vary from 0 (perfect equality) to 1 (perfect inequality).
• A Gini Coefficient of zero means that everyone has the same income, while a Coefficient of 1 represents a single individual receiving all the income.
Solution: b)
Gini Coefficient:
• It is derived from the Lorenz Curve.
• It can be used as an indicator of economic development in a country.
• The Gini Coefficient measures the degree of income equality in a population.
• The Gini Coefficient can vary from 0 (perfect equality) to 1 (perfect inequality).
• A Gini Coefficient of zero means that everyone has the same income, while a Coefficient of 1 represents a single individual receiving all the income.
• Question 3 of 5 3. Question Consider the following statements regarding Securities Exchange Board of India (SEBI). SEBI was established as a Statutory body to regulate the Securities market in India. SEBI does not regulate Commodities market in India. It is a quasi-legislative and quasi-judicial body that can conduct enquiries and impose penalties. Which of the above statements is/are correct? a) 3 only b) 1 and 3 only c) 2 and 3 only d) 1, 2 and 3 Correct Solution: a) Only Statement 3 is correct. Incorrect Solution: a) Only Statement 3 is correct.
#### 3. Question
Consider the following statements regarding Securities Exchange Board of India (SEBI).
• SEBI was established as a Statutory body to regulate the Securities market in India.
• SEBI does not regulate Commodities market in India.
• It is a quasi-legislative and quasi-judicial body that can conduct enquiries and impose penalties.
Which of the above statements is/are correct?
• b) 1 and 3 only
• c) 2 and 3 only
• d) 1, 2 and 3
Solution: a)
Only Statement 3 is correct.
Solution: a)
Only Statement 3 is correct.
• Question 4 of 5 4. Question Consider the following statements regarding the criteria for granting Maharatna Status. It is not compulsory for the company to be listed on Indian Stock Exchange. Significant global presence or international operations. Average annual net profit after tax should be greater than 5000 crores for the last 3 years. How many of the above statements is/are correct? a) Only one b) Only two c) All three d) None Correct Solution: b) Statement 1 is incorrect. Incorrect Solution: b) Statement 1 is incorrect.
#### 4. Question
Consider the following statements regarding the criteria for granting Maharatna Status.
• It is not compulsory for the company to be listed on Indian Stock Exchange.
• Significant global presence or international operations.
• Average annual net profit after tax should be greater than 5000 crores for the last 3 years.
How many of the above statements is/are correct?
• a) Only one
• b) Only two
• c) All three
Solution: b)
Statement 1 is incorrect.
Solution: b)
Statement 1 is incorrect.
• Question 5 of 5 5. Question Consider the following statements regarding the criteria for granting Miniratna Status. The company must have made profit for the last 3 years continuously. The company must have positive net worth status. The company is mainly dependent upon budgetary support or Government guarantees. Which of the above statements is/are correct? a) 1 only b) 1 and 3 only c) 1, 2 and 3 d) 1 and 2 only Correct Solution: d) Incorrect Solution: d)
#### 5. Question
Consider the following statements regarding the criteria for granting Miniratna Status.
• The company must have made profit for the last 3 years continuously.
• The company must have positive net worth status.
• The company is mainly dependent upon budgetary support or Government guarantees.
Which of the above statements is/are correct?
• b) 1 and 3 only
• c) 1, 2 and 3
• d) 1 and 2 only
Solution: d)
Solution: d)
Join our Official Telegram Channel HERE for Motivation and Fast Updates
Join our Twitter Channel HERE
Follow our Instagram Channel HERE
Stay Consistent
Consistency is key in UPSC preparation. By making the UPSC Static Quiz a part of your daily routine, you will steadily improve your knowledge base and exam readiness. Join us every day to tackle new questions and make your journey towards UPSC success more structured and effective.