General Knowledge MCQs
Topic Notes: General Knowledge
MCQs and preparation resources for competitive exams, covering important concepts, past papers, and detailed explanations.
Plato
- Biography: Ancient Greek philosopher (427–347 BCE), student of Socrates and teacher of Aristotle, founder of the Academy in Athens.
- Important Ideas:
- Theory of Forms
- Philosopher-King
- Ideal State
21
What is OPEC's primary objective, per its statute?
Answer:
Stabilizing oil markets
OPEC aims to coordinate petroleum policies to ensure stable prices for producers, regular supply for consumers, and fair returns for investors.
22
Which country is NOT a founding member of OPEC?
Answer:
Nigeria
Nigeria joined OPEC in 1971, while Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela founded the organization in 1960.
23
How many member countries does OPEC have as of 2025?
Answer:
12
OPEC has 12 members after Angola's withdrawal in January 2024, down from 13, including Algeria, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, UAE, and Venezuela.
24
Where is the headquarters of OPEC located?
Answer:
Vienna, Austria
OPEC's headquarters moved to Vienna, Austria, on September 1, 1965, from Geneva after Switzerland declined to extend diplomatic privileges.
25
What is a frequent criticism of OPEC by consumer nations?
Answer:
It acts like a cartel influencing prices
OPEC’s supply management leads critics to label it as a price-influencing cartel.
26
OPEC decisions require what type of agreement?
Answer:
Unanimity
Decisions must be unanimous, ensuring all members agree.
27
Which OPEC body handles research and data analysis?
Answer:
OPEC Research Division
The Research Division analyzes markets and supports policy decisions.
28
Which continent has the largest number of OPEC member states?
Answer:
Africa
Africa has several OPEC members such as Nigeria, Angola, Algeria, and Libya.
29
What is OPEC’s collective strategy to influence oil supply called?
Answer:
Production quotas
Member states agree on quotas to manage collective supply.
30
Which country suspended its OPEC membership in 2020?
Answer:
Ecuador
Ecuador left OPEC in 2020 due to financial constraints and policy differences.