🎖Economy 🎖

Day 17 (53 days to prelims)

Expected time to complete: 2 hours

Topics to be covered:
🔘Basics of Economy (GDP, GVA, GNI, GNP, Base Year, Per capita income, measuring of GDP, PPP, etc.)
🔘Inflation (Types of inflation, various curves, etc.)

✅Source: Book by Ramesh Singh.

✅Sleepy Students: You can cover the topics in our crash course: Lecture 1- 6 of prelims economy crash course.
✅ You can practise these topics in our Parishram Test Series: Test number 1 of Economy.

⭐️Bonus topic from our few minutes series:⭐️
https://youtu.be/gbJqwJZcYUU?si=5oJk7aaRlHUYyUxt

Q2. Inflation is characterised by which of the following?
1. A sustained increase in the general price level of goods and services.
2. A persistent trend of decline in the purchasing power of currency.
3. Money losing its ability to acquire the same basket of goods and services as before.

Q3. Considering the measurement of a nation's economic activity, how many of the following statements about Gross Domestic Product (GDP) is/are most likely correct?
1. It includes the value of all final and intermediate goods and services produced within a country in a given year.
2. It considers the income earned by citizens of a country regardless of where it is generated.
3. A higher GDP always signifies a higher standard of living for the citizens of a country.

Topics Covered in Yesterday's 50 Important Topics Session
See You Again At 2PM Today!

📺50 Important Topics (Geography-3): https://youtu.be/CUHPancXq_Q

🎖Economy 🎖

Day 18 (52 days to prelims)

Expected time to complete: 2 hours

Topics to be covered:
🔘Inclusive Growth
🔘Banking

✅Source: Book by Ramesh Singh
✅Sleepy Students: You can cover the topics in our crash course: Lecture 7-11 of prelims economy crash course.
✅ You can practise these topics in our Parishram Test number: 2 of Economy

⭐️Bonus topic from our few minutes series:⭐️
https://youtu.be/zpsE7QBCIl8?si=1W52mS5_f4zGulYj

Q1. “Liquidity refers to the ease with which an asset or security can be bought or sold in the market”.

1. Ample liquidity implies a narrow bid- ask spread.
2. Low liquidity can lead to price volatility in the market.
3. Options and real estate are generally considered liquid assets.

Q2. Consider the following statements about State Bank of India (SBI):

1. It was formed through the nationalisation of the Imperial Bank of India.
2. The Government of India holds a minority stake in SBI.
3. Bhartiya Mahila Bank is currently the only associate bank of SBI.

Q3. The Reserve Bank of India (RBI) plays a pivotal role in the Indian economy. Consider the following statements in this context:

1. The RBI is a constitutional body established under the provisions of the Indian Constitution.
2. It was set up based on the recommendations of the Hilton Young Commission.
3. The RBI served as the central bank of Burma (present-day Myanmar) until 1947.