General Knowledge (Static)

 Capital formation in an economy depends on total income

The painting 'Hamsa Damayanti' is one of the most famous works by the renowned Indian painter Raja Ravi Varma.

A progressive tax is a tax in which the tax rate increases as the taxable amount (income) increases.

Population density is defined as the number of people living per unit of area, which in standard demographic metrics is per square kilometer.

Prime cost is defined as the direct costs of production, which includes direct materials and direct labor. In the context of the options provided, it is most closely associated with variable costs.

The National Development Council (NDC) was the apex body in India for decision-making and deliberations on development matters, including the final approval of Five-Year Plans.

Dumping is an international trade practice where a company exports a product at a price lower than the price it normally charges in its own home market. This is often done to gain market share or eliminate competition in the foreign country.

 Bank deposits that can be withdrawn without notice are called Demand Deposits.

A sunk cost is a cost that has already been incurred and cannot be recovered. Because it cannot be changed by any future decision, it should ideally be ignored in rational decision-making.

Say's Law, or the law of markets, was propounded by the French economist Jean-Baptiste Say. It states that aggregate supply creates its own aggregate demand.

The Indian Police Service (IPS) is an All India Service, not a Central Service. The others listed (IFS, IA&AS, IRS) are examples of Central Services (Group A).

The primary market is the part of the capital market that deals with the issuance of new securities. Companies, governments, or other public sector institutions raise funds through bond issues or stock offerings in the primary market.

Unto This Last is an essay and book on economy by John Ruskin, first published in 1860. It had a profound influence on Mahatma Gandhi's philosophy of life and economics.

The DPT vaccine (Triple Antigen) is administered to infants to provide immunity against Diphtheria, Pertussis (whooping cough), and Tetanus.

Article 40 of the Indian Constitution directs the State to organize village panchayats and endow them with such powers and authority as may be necessary to enable them to function as units of self-government.

Habeas Corpus, which literally means 'to have the body', is a writ used to bring a prisoner or other detainee before the court to determine if the person's imprisonment or detention is lawful. It is considered a fundamental bulwark of personal liberty.

Guru Nanak Dev, the founder of Sikhism, was born in 1469 in Talwandi, which is now known as Nankana Sahib in present-day Pakistan.

The Earth rotates 360 degrees in 24 hours. Therefore, 1 degree of longitude corresponds to 24 hours / 360 degrees = 1440 minutes / 360 degrees = 4 minutes per degree.

Vande Mataram is a poem written by Bankim Chandra Chattopadhyay in his 1882 novel Anandamath. It was adopted as the national song of India.

The Swarajya Party was formed on January 1, 1923, by Chittaranjan Das and Motilal Nehru after the Gaya session of the Indian National Congress.

Sir Syed Ahmed Khan founded the Muhammadan Anglo-Oriental College in 1875, which later became the Aligarh Muslim University.

Lord Ripon is known as the father of local self-government in India for his resolution of 1882, which gave the people the right to elect local bodies.

The Kohinoor diamond was mined from the Kollur Mine in the Golconda Sultanate, which is located in the present-day Indian state of Andhra Pradesh.