In the context of any country, which one of the following would be considered as part of its social capital?

The correct answer is A, an investor who feels that the price of a particular security is going to fall. A bear expects prices to slide and therefore sells, hoping to buy the same security back cheaper, which is why a falling market is called a bear market. The name is said to come from the bear striking downward with its paws, against the bull that tosses its horns upward. On Indian exchanges a bear typically sells short, and a spell of heavy selling that drags prices down is called a bear hug or a bear raid. B is wrong because an investor who expects prices to rise is a bull. C is wrong because a person holding a share or a bond and so having an interest in the company is a stakeholder. D is wrong because one who lends money or buys a bond is a creditor. Exam tip: bear sells expecting a fall, bull buys expecting a rise; Dalal Street carries statues of both.

The correct answer is C, 1 and 3 only. Statements 1 and 3 hold while statement 2 does not, so this pairing is the right one. The Agreement on Trade-Related Investment Measures is one of the World Trade Organization agreements that came out of the Uruguay Round in 1995. It bars a member from placing conditions on a foreign investor that distort trade in goods, and the two named prohibitions are the local content requirement and the trade balancing requirement, which is why a quantitative limit on what an investor may import is not allowed. The agreement covers investment measures only insofar as they affect trade in goods, so statement 2 is wrong; services are handled separately under GATS. Statement 3 stands because the agreement does not tell a country whom to admit as an investor or on what terms, and so does not regulate foreign investment itself. A and D are wrong because each includes statement 2. B is wrong because it rests on statement 2 alone. Exam tip: TRIMS is about goods, GATS about services, TRIPS about intellectual property.

The correct answer is A, Argentina, Mexico, South Africa and Turkey. All four of these countries sit in the G20, so this is the only group in which no name falls outside the forum. The G20 began in 1999 as a meeting of finance ministers and central bank governors, and it was raised to the level of a leaders' summit in 2008 after the global financial crisis. It brings together nineteen countries along with the European Union, and the African Union was admitted as a member at the New Delhi summit. Its Asian members include India, China, Japan, South Korea, Indonesia, Saudi Arabia and Turkey. B is wrong because Malaysia and New Zealand are not members, even though Australia and Canada are. C is wrong because Iran and Vietnam stand outside the group, while Brazil and Saudi Arabia are inside it. D is wrong because Singapore is not a member, though it is often invited as a guest. Exam tip: among the Southeast Asian states only Indonesia is a G20 member.

The correct answer is B, differentiates it from other products in the market. A brand is the name, term, sign, symbol or design a seller gives a product so that buyers can tell it apart from everything else on the shelf. That is the defining purpose of branding, which is identification. A brand name registered as a trademark cannot legally be copied, so it fixes responsibility for quality on one producer and lets a firm build a reputation, advertise, and set a price of its own instead of competing on price alone. Packaging, labelling and branding together make up a product's identity. Option A is wrong because a brand may well help sales, but higher sales are a result of branding and not what branding itself does. Option C is wrong for the same reason, since attractiveness comes from packaging and design. Option D is wrong because a rebate on the maximum retail price is a sales promotion offer and has nothing to do with branding. Exam tip: branding identifies and differentiates, packaging protects, and labelling informs.

The correct answer is C, M3. The Reserve Bank of India publishes four measures of money supply, and M3 is the one called broad money, also known as aggregate monetary resources. It is made of currency with the public, demand deposits with banks, other deposits with the RBI and, above all, time deposits with banks. Adding time deposits captures almost all the money the banking system has created, which is why M3 is the figure policy makers watch. A is wrong because M1, currency plus demand deposits plus other deposits with the RBI, is narrow money, the most liquid measure of all. B is wrong because M2 is M1 plus savings deposits with post office savings banks, and it is still a narrow measure. D is wrong because M4 is M3 plus total post office deposits, the widest measure, but the name broad money belongs to M3. Exam tip: M1 and M2 are narrow, M3 and M4 are broad, and M3 is the benchmark.