RBI GK Questions 2026

The World Intellectual Property Organization was set up by a convention signed in 1967, became a specialised agency of the United Nations in 1974, and has its headquarters at Geneva in Switzerland, where it administers the Paris and Berne Conventions, the Patent Cooperation Treaty and the Madrid system.

Darjeeling tea, grown on the hill slopes of the Darjeeling district of West Bengal, was the first product registered under the Geographical Indications of Goods Registration and Protection Act of 1999 after the Act came into force, and the Tea Board of India holds the registration.

Under the Copyright Act of 1957, copyright in a literary, dramatic, musical or artistic work lasts for the life of the author and sixty years counted from the beginning of the year following the year of death, after which the work enters the public domain.

It replaced the Indian Patents and Designs Act of 1911 on the recommendations of the Ayyangar Committee, allowed only process patents in medicines and food at first, and was amended in 1999, 2002 and 2005 to meet the obligations India accepted at the World Trade Organization.

Under the Patents Act of 1970 as amended, a patent in India runs for twenty years from the date of filing of the application, a term fixed in line with the minimum standard laid down by the TRIPS agreement of the World Trade Organization, and renewal fees must be paid…

The profit volume ratio measures contribution as a percentage of sales, and contribution is sales minus variable cost.

Costs are classified as direct or indirect by traceability. A direct cost can be attributed wholly to one product, job or process, such as the raw material in a shirt or the wages of the worker who stitches it.

Returns to scale asks what happens to output when every input is increased in the same proportion, which is possible only in the long run, when the firm can build a bigger plant as well as hire more labour.

An implicit cost is the imputed value of a factor supplied by the entrepreneur himself, for which no payment leaves the firm; the rent he could have earned by letting out his own premises, the interest on his own capital and the salary he could have drawn elsewhere are the…

Marginal cost is the addition to total cost from producing one more unit, so for a one unit change it is simply the difference between successive values of total cost.

At that output the firm makes neither profit nor loss in the economic sense and earns only normal profit, since normal profit is already counted in cost as the reward of enterprise.

Both conditions are needed. If marginal revenue exceeds marginal cost the firm gains by producing more, and if marginal cost exceeds marginal revenue it gains by producing less, so profit can be highest only where they are equal; and the equality must occur on the rising part of the marginal…

A firm in perfect competition is a price taker because its output is a negligible part of the market, so it can sell any quantity at the ruling price.

This is the defining condition of the short run, where plant and machinery cannot be changed, so only the proportion between the variable factor and the fixed factor alters.

The reason is arithmetic rather than economic: so long as marginal cost is below average cost, each extra unit pulls the average down, and once marginal cost rises above average cost the average must rise, so the two can only be equal where the average is at its lowest.

Average fixed cost is total fixed cost divided by output; the numerator is unchanged, so a larger output spreads the same fixed cost over more units.

Fixed cost is the payment for factors that cannot be varied in the short run, such as the rent of the factory building, insurance and the salary of permanent staff, and it has to be met even when output is zero, which is why it is also called supplementary or…

The presentation by the Joint Director General of Foreign Trade at Jaipur placed India eighth among exporters of gems and jewellery worldwide, with a share of 2.9 per cent in a global market worth about one trillion dollars, and noted that the recently concluded agreements grant immediate duty-free access across…

The Department of Commerce organised the outreach programme in the Rajasthan capital to build awareness of the benefits available under India free trade agreements and to help exporters use them in practice.

This is the estimated cumulative figure for merchandise and services exports taken together during the first six months of the financial year.