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
41
The AfCFTA is a trade agreement covering which continent?
Answer:
Africa
The African Continental Free Trade Area (AfCFTA) is a trade pact founded in 2018 to create a single market for goods and services across the African continent.
42
Which level of economic integration involves the removal of trade barriers and a common external tariff towards non-members?
Answer:
Customs Union
A Customs Union not only eliminates internal tariffs between member nations (like a Free Trade Area) but also adopts a common external tariff for imports from non-member countries.
43
Which organization is responsible for coordinating the petroleum policies of its member countries?
Answer:
OPEC
The Organization of the Petroleum Exporting Countries (OPEC) coordinates oil production policies to stabilize oil markets and ensure regular supply.
44
What does 'Brexit' refer to?
Answer:
The United Kingdom's withdrawal from the European Union
Brexit is the portmanteau of 'British exit,' referring to the UK's decision to leave the EU following a 2016 referendum, which was finalized in 2020.
45
Which South American trade bloc includes Brazil, Argentina, Paraguay, and Uruguay as full members?
Answer:
MERCOSUR
MERCOSUR (Southern Common Market) is a South American trade bloc established by the Treaty of Asunción in 1991 to promote free trade and the fluid movement of goods, people, and currency.
46
Where is the headquarters of the Association of Southeast Asian Nations (ASEAN) located?
Answer:
Jakarta, Indonesia
The ASEAN Secretariat is located in Jakarta, Indonesia. ASEAN promotes political and economic cooperation among its ten member states in Southeast Asia.
47
What is the primary currency used by the majority of European Union member states?
Answer:
Euro
The Euro (€) is the official currency of the Eurozone, which consists of 20 of the 27 member states of the European Union.
48
Which trade agreement replaced NAFTA (North American Free Trade Agreement)?
Answer:
USMCA
The United States-Mexico-Canada Agreement (USMCA) entered into force on July 1, 2020, modernizing and replacing the 1994 NAFTA agreement.
49
Which organization replaced the General Agreement on Tariffs and Trade (GATT) in 1995?
Answer:
World Trade Organization (WTO)
The WTO was established on January 1, 1995, following the Marrakesh Agreement, replacing GATT as the global international organization dealing with the rules of trade between nations.
50
Which major Asian trade bloc includes China, Japan, and South Korea?
Answer:
RCEP
RCEP brings together major Asian economies along with ASEAN members.