Eye-Opener Coming Up! Catch the First Basic Economic Prelims Test (16th August) to Re-imagine How You Look At UPSC Prelims

Click here to enroll for the Prime Prelims TS 2021

What was it that initially made Great Britain bleed but subsequently helped it to secure a smashing victory in the second world war? Enigma it was. Alan Turing built the “Turing Machine” that helped decrypt the seemingly unbreakable German Code. Then something very astonishing followed. Great Britain exploited the loopholes of the Enigma itself and the Germans lost without having the slightest hint of Enigma being compromised.

For a UPSC Aspirant, isn’t the “unpredictable” paper setting pattern of UPSC a modern-day Enigma? But what if there was a “Turing Machine” that could break into this “Unbreakable” code of UPSC? For your amusement, there is one.

Talking about UPSC Civil Services Prelims, mock test series has become a Categorical Imperative. But which one truly breaks the “UPSC Enigma”? How about one made by Frontline Warriors themselves (Veteran Aspirants) who have successfully cleared prelims five or six times consecutively? Isn’t the collective wisdom of these “Alan Turings” the closest version of a “UPSC Turing Machine”?

Now, let us speak about the test in question. It’s the sixth test of the newly launched Prelims Test Series for 2021 by CivilsDaily. It’s a Basic Economics Test. Let’s see how it is the first step towards breaking the “UPSC Enigma”:

  1. CD Special Questions:

These questions are special due to their;

  • Mind-Twisting Nature (Deceptive questions that fool you exactly as UPSC does in the real exam)
  • Exclusiveness (These Perspectives / Themes are only available in CD tests). 

Have a look –

Q1)With reference to Tax Buoyancy, consider the following statements:

1.It is a measure of the responsiveness of the tax receipts with respect to GDP.

2.A tax is said to be buoyant if the tax revenues decreases more than proportionately in response to a rise in national income or output.

3.Tax Buoyancy is also known as bracket creep.

Which of the statements mentioned above is/are correct?

  • 1 only
  • 2 and 3 only
  • 1 and 3 only
  • 1, 2 and 3

Try guessing the right answer to this seemingly simple yet tricky question.

2. Tikdams:

These are Logical Solving Techniques that help you attempt questions despite having little or no idea about the question. It’s almost like getting a master key to the prelims paper. Have a look –

Q2) With reference to Minimum Alternate Tax (MAT), consider the following statements:

1. It was effectively introduced in India by the Finance Act of 1987

2. It’s aim is to bring Zero Tax Companies into tax realm.

3. It only applies to private companies and not to public companies.

Which of the statements mentioned above is/are correct?

  • 1 and 2 only
  • 2 and 3 only
  • 1 and 3 only
  • 1, 2 and 3

The test explains this basic question by using a Technique we call “Extreme Exaggeration” (assuming you don’t know the correct answer).

3. Evidence-Based Question Framing:

To keep close to the real demand of the exam. Have a look –

3)With reference to WTO, consider the following statements regarding Trade Related Intellectual Property Rights(TRIPS):

1.TRIPS was concluded during Uruguay Round.of WTO negotiations.

2. Prior to the TRIPS, IPR concerning the trade were governed by the Paris Convention of 1863.

Which of the statements mentioned above is/are correct?

  • 1 only
  • 2 only
  • Both 1 and 2
  • Neither 1 nor 2

4) Consider the following statements regarding the Gross Domestic Product (GDP) and Gross Value Added (GVA):

1.GDP represents the sum total of Gross Value added in all sectors without adjusting for taxes and subsidies by the government.

2. While the GDP is estimated by the Central Statistical Office (CSO), GVA is estimated by the Indian Statistical Institute (ISI).

3. GVA data helps in tracking the growth of a particular sector in the economy.

Which of the statements given above is/are correct?

  • 1 and 2 only
  • 1 only
  • 3 only
  • 1 and 3 only

Now, UPSC has asked multiple questions on the basic economic functioning of the economy. You can’t afford to err on a probable question that may be asked on similar lines.

4. Is the test really BASIC?

Framing random questions irrespective of the difficulty level of the tests is like serving the same wine in different bottles. Have a look –

4) Which of the following can be considered as an intermediate goods?

1. Sugar used for making sweets in sweets shop.

2. Refrigerator and milk used by ice cream shop owner.

3. Steel used in production of cars.

Select the correct statements using the code given below:

  • 1 only
  • 2 and 3 only
  • 1 and 3 only
  • 1, 2 and 3

The motive to incorporate such questions in the basic test is to garner a general idea of the topics before you as an aspirant are mentally ready to face the advanced tests.

5. Conceptual vs Factual Categorisation:

It lets you realise your comparative strength in different types of questions. Have a look –

Q3. Which of the following statements is NOT correct with reference to Floating Exchange Rate?

  • The exchange rate is determined by the forces of demand and supply.
  • The government never intervenes and allows the market to function and determine the true value of exchange rate.
  • The exchange rate reflects the true value of the domestic currency
  • The foreign investors avoid investing in such countries

This is a basic Conceptual question. If you get this wrong, you need to rework the concepts of Monetary Dynamics which is an important aspect of Economy Syllabus.

So come be a part of our “UPSC Enigma” Breaking Endeavour. Like Great Britain, we shall emerge VICTORIOUS.

Click here to enrol for the Prime Prelims TS 2021

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