1. What do we mean by “unemployment trap”?

(a) When opportunity cost of going to work is too high in relation to unemployment allowances.

(b) When highly skilled workers are unable to find work matching their skills.

(c) When workers are forced to work at low wages.

(d) When more workers than required at employed.

Answer: (a)

Explanation: Governments of some countries provide unemployment allowances to those who are unemployed. A situation of unemployment trap arises when these allowances discourage workers to go to work and they are encouraged to do nothing and keep taking these allowances.

2. Consider the following Regional Autonomy Movements in the European Union:

Regions : Countries

1. Basque : Spain

2. Flanders : Italy

3. Faroe Island : Denmark

Which of the above is/are NOT correctly matched?

(a) 1 only

(b) 2 only

(c) 2 and 3 only

(d) 1, 2 and 3

Answer: (b)

Explanation: Regions : Countries

1. Basques : Spain

2. Flanders : Belgium

3. Faroe Island : Denmark

4. Lombardy and Veneto: Italy

5. Catalonia : Spain

3. Consider the following statements regarding 'She Means Business’ programme:

(1) It has been launched by Odisha government and Facebook jointly.

(2) Under the scheme, 25,000 women entrepreneurs and self-help-groups (SHG) members will be given training on digital marketing skills.

(3) It is launched only in India.

Which of the statements given above is/are correct?

(a) 1 and 2 only

(b) 3 only

(c) 1, 2 and 3

(d) None of the above

Answer: (a)

Explanation: Odisha government and social networking giant Facebook have launched ‘She Means Business’ programme to train women entrepreneurs in the state. It was launched in partnership between Odisha’s MSME (micro, small and medium enterprises) department and Project Mission Shakti. Under this initiative, 25,000 women entrepreneurs and self-help group (SHG) members from the state will be given training on digital marketing skills within by the end of 2018. Facebook will monitor the growth of the MSMEs in Odisha after imparting training to them in next one year. It will also prepare a data base of the MSMEs through registrations in which they will take the email ids and mobile numbers of entrepreneurs in all the workshops. The programme has been launched in 16 countries around the world including India. It is designed to reach out to aspiring and established women entrepreneurs to help them build and grow their business online.

4. Consider the following statements about National Investment and Infrastructure Fund:

(1) NIIF is a sovereign wealth fund which will invest in infrastructure related sectors in India.

(2) It will cater to greenfield, brownfield as well as stalled projects.

(3) It is fully owned by the government.

Which of the statements given above are correct?

(a) 1 and 3 only

(b) 1 and 2 only

(c) 2 and 3 only

(d) 1, 2 and 3

Answer: (b)

Explanation: NIIF is India’s first sovereign wealth fund and it will invest in areas such as energy, transportation, housing, water, waste management and other infra related projects. It is not wholly owned by government. The entire corpus is of Rs 40,000 crore out of which government holds 49% stake and the rest is to be raised by third party investors such as sovereign wealth funds, insurance and pension funds, endowments etc.

5. With reference to the Tribal Cooperative Marketing Development Federation of India Limited (TRIFED), which of the following statements is/are correct?

(1) It is a multi-State Cooperative Society under the Ministry of Tribal Affairs.

(2) It aims at promoting and marketing tribal products, tribal art and crafts within the country.

(3) The Ministry of Culture provides the promotion and marketing of tribal products and tribal art and crafts outside India.

Select the correct answer using the code given below:

(a) 1 and 2 only

(b) 2 and 3 only

(c) 1 and 3 only

(d) 1, 2 and 3

Answer: (a)

Explanation: Tribal Cooperative Marketing Development Federation of India Limited (TRIFED) is multi-State Cooperative Society under Ministry of Tribal Affairs. It was established in August 1987 by then Ministry of Welfare under Multi State Cooperative Societies Act 1984 (which has now been replaced by Multi-State Cooperative Societies Act, 2002). It is headquartered in New Delhi. It aims at promoting and marketing tribal products, tribal art and crafts within the country and abroad by providing marketing support to tribal product through its network of retail outlets. It also organizes exhibitions like National Tribal Craft Expo called “Aadi Mahotsav” etc.