Questions

In which market form, a market or an industry is dominated by a single seller?

Find arc elasticity of demand, if quantity demanded falls from 4600 to 4200 when price of the item is increased from Rs 960 to Rs 1000?

Which one of the following statements is correct?

On a clean glass plate a drop of water spreads to form a thin layer whereas a drop of mercury remains almost spherical because ________

Which of the following gases is produced due to incomplete combustion of fuel?

Read the passage carefully and select the best answer to each question out of the given four alternatives.

The conclusion of World Trade Organization’s 11th biennial ministerial conference at Buenos Aires was worrisome. From an Indian standpoint, there was no loss as status quo continues in the most important issue: the right to continue the food security programme by using support prices. But the inability of the negotiators to reach even one substantive outcome suggests that WTO’s efficacy is under question. As a 164-country multilateral organisation dedicated to crafting rules of trade through consensus, WTO represents the optimal bet for developing countries such as India. Strengthening WTO is in India’s best interest.

Perhaps the biggest threat to WTO’s efficacy today is the attitude of the US. The world’s largest economy appears to have lost faith in the organisation and has begun to undermine one of its most successful segments, the dispute redressal mechanism. This is significant as the US has been directly involved in nearly half of all cases brought to WTO. Separately, large groups of countries decided to pursue negotiations on e-commerce, investment facilitation and removal of trade obstacles for medium and small scale industries. By itself this should not weaken WTO. But it comes at a time when there is growing frustration with gridlock at WTO.

India did well to defend its position on its food security programme. The envisaged reform package which will see a greater use of direct cash transfers to beneficiaries will be in sync with what developed countries do. But it’s important for India to enhance its efforts to reinvigorate WTO. In this context, India’s plan to organise a meeting of some countries early next year is a step in the right direction. WTO represents the best available platform to accommodate interests of a diverse set of nations. Therefore, India should be at the forefront of moves to fortify it.

Which of the following is the most successful segments of the WTO mentioned in the passage?

In the following question, out of the four alternatives, select the alternative which is the best substitute of the phrase.

to teach a person to accept a set of beliefs uncritically

In the following question, the sentence given with blank to be filled in with an appropriate word. Select the correct alternative out of the four and indicate it by selecting the appropriate option.

As global temperatures rise, an untreatable new strain of the flu might _________ up at any moment.