Do You Know !!

1.
Dumping is

A. selling of goods abroad at a price well below the production cost at the home market price
B. the process by which the supply of a manufacture's product remains low in the domestic market, which batches him better price
C. prohibited by regulations of GATT
D. All of the above
Answer & Explanation
Answer: Option D

Explanation:

Dumping is a term that is used in financial markets as well as in international trade. In the context of buying and selling securities, dumping refers to the practice of selling large blocks of securities. More specifically, when dumping securities the seller is primarily interested in getting rid of the securities at any price. One simply dumps, or unloads, on the market with no regard to the selling price of the securities.

Dumping is also used in a commercial sense in the context of international trade. It refers to the practice of one country selling commodities or finished products in another country below cost or fair market value. Predatory dumping occurs when one nation exports goods to another nation below cost or fair market value in order to obtain market share at the expense of domestic competitors. In many cases, predatory dumping drives out domestic competition. Then, having established a dominant marketing position in the industry, the predatory dumpers raise their prices well above previous levels.

Many nations, including the United States, have enacted antidumping laws that provide for the imposition of antidumping penalties or tariffs when a case of dumping can be proven. Following the Uruguay Round of Multilateral Trade Negotiations in 1993, the General Agreement on Tariffs and Trade (GATT) contained provisions to standardize antidumping measures by different nations. Antidumping measures affect not only the practice of dumping goods into the U.S. market, they also affect the ability of U.S. companies to export goods to other countries at competitive prices.


2.
First Indo-Pak war was started in the year

A. 1947 B. 1948
C. 1949 D. 1950
Answer & Explanation
Answer: Option A

Explanation:

Indo-Pakistan War of 1947: This is also called the First Kashmir War. The war started in October 1947 when the Maharajah of the princely state of Kashmir and Jammu was pressured to accede to either of the newly independent states of Pakistan or India. Tribal forces prompted by Pakistan attacked and occupied the princely state, forcing the Maharajah to sign the "Agreement to the accession of the princely state to India". The United Nations was then invited by India to mediate the quarrel. The UN mission insisted that the opinion of the Kashmiris must be ascertained. The UN Security Council passed Resolution 47 on 21 April 1948. The war ended in December 1948 with the Line of Control dividing Kashmir into territories administered by Pakistan (northern and western areas) and India (southern, central and northeastern areas).


3.
For the Olympics and World Tournaments, the dimensions of basketball court are

A. 26 m x 14 m B. 28 m x 15 m
C. 27 m x 16 m D. 28 m x 16 m
Answer & Explanation
Answer: Option B

4.
Federation Cup, World Cup, Allywyn International Trophy and Challenge Cup are awarded to winners of

A. Tennis B. Volleyball
C. Basketball D. Cricket
Answer & Explanation
Answer: Option B


5.
Each year World Red Cross and Red Crescent Day is celebrated on

A. May 8 B. May 18
C. June 8 D. June 18
Answer & Explanation
Answer: Option A


6.
Famous sculptures depicting art of love built some time in 950 AD – 1050 AD are

A. Khajuraho temples
B. Jama Masjid
C. Sun temple
D. Mahabalipuram temples
Answer & Explanation
Answer: Option A