GK Set 5 – Economy, Technology, Space & Everyday
Knowledge
General Knowledge Revision Notes – Questions and Answers
1. What is GDP?
Answer: Gross Domestic Product, or GDP, is the monetary value of final goods and services produced
within an economy over a specified period.
2. What is inflation?
Answer: Inflation is a sustained increase in the general price level of goods and services, which
reduces the purchasing power of money.
3. What is a bank?
Answer: A bank is a financial institution that accepts deposits, provides loans and offers various
payment and financial services.
4. What is a central bank?
Answer: A central bank manages key monetary functions, including issuing currency and influencing
interest rates and money conditions.
5. What is India's central bank?
Answer: The Reserve Bank of India, commonly called the RBI, is India's central bank.
6. What is a budget?
Answer: A budget is a financial plan showing expected income, expenditure and resource allocation for
a specified period.
7. What is a stock exchange?
Answer: A stock exchange is an organized marketplace where securities such as shares can be bought
and sold under established rules.
8. What is a computer?
Answer: A computer is an electronic device that processes data according to instructions and can
store, retrieve and communicate information.
9. What is an operating system?
Answer: An operating system is system software that manages hardware resources and provides
services for application programs.
10. What is the internet?
Answer: The internet is a global network of interconnected computer networks that communicate using
standardized protocols.
11. What is artificial intelligence?
Answer: Artificial intelligence refers to computer systems designed to perform tasks that normally
require aspects of human intelligence, such as learning, recognition and reasoning.
12. What is cloud computing?
Answer: Cloud computing provides computing resources such as storage, processing and software
services over networks, commonly through the internet.
13. What is cybersecurity?
Answer: Cybersecurity involves protecting computers, networks, systems and data from unauthorized
access, disruption, damage or misuse.
14. What is a satellite?
Answer: A satellite is an object that orbits another body in space. Satellites can be natural, such as
moons, or artificial, such as communication satellites.
15. What is a geostationary satellite?
Answer: A geostationary satellite orbits above Earth's equator with an orbital period matching Earth's
rotation, so it appears nearly fixed over one location.
16. What is ISRO?
Answer: ISRO, the Indian Space Research Organisation, is India's national space agency responsible
for major space research and satellite and launch activities.
17. What is a rocket?
Answer: A rocket is a vehicle or engine that generates thrust by expelling mass, allowing it to operate
even where there is no surrounding atmosphere.
18. What is a black hole?
Answer: A black hole is a region of spacetime where gravity is so strong that, beyond the event
horizon, light cannot escape.
19. What is a telescope?
Answer: A telescope is an instrument that collects electromagnetic radiation or other signals from
distant objects to help scientists observe the universe.
20. What is the Moon?
Answer: The Moon is Earth's natural satellite and has a major influence on tides, while its phases result
from changing illumination as it orbits Earth.
21. What is a QR code?
Answer: A QR code is a two-dimensional machine-readable code that can store information such as
text, links or identifiers.
22. What is GPS?
Answer: GPS, or Global Positioning System, is a satellite-based navigation system that can provide
location and timing information to receivers.
23. What is an electric vehicle?
Answer: An electric vehicle uses one or more electric motors for propulsion and typically stores energy
in rechargeable batteries.
24. What is recycling?
Answer: Recycling is the process of collecting and processing waste materials so that they can be used
again as raw materials or products.
25. What is the purpose of a password?
Answer: A password is used to authenticate a person or protect access to an account, device or
service. Strong, unique passwords reduce security risks.
Quick Revision Tips
• Revise facts in groups such as history, geography, science, sports, polity and current affairs.
• For competitive examinations, pay special attention to capitals, currencies, important dates, institutions,
discoveries, national symbols and major awards.
• When a fact has a common popular answer but a more precise official answer, prefer the official or
constitutionally accurate wording.
• Use these questions for self-testing: cover the answers, attempt each question from memory, and then
check your response.
• General knowledge improves with repeated revision. Make short notes from mistakes and review them
regularly.