The 'World Economic Forum' was established in which year? MCQ with Answer and Explanation

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The 'World Economic Forum' was established in which year?

A. 1980

B. 1965

C. 1990

D. 1971

Answer: Option D

Solution (By JKSSB Mock Tests)

WEF was established in 1971.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is a feature of 'Herd Behaviour' in financial markets?

A. Individuals always act independently on the basis of their own information

B. Only fundamental information drives prices

C. Individuals imitate the actions of others, potentially leading to cascades and excess volatility

D. Imitation never occurs

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Correct Answer: Option C

Explanation:
Herd behaviour occurs when agents follow the actions of others rather than their own private information, which can generate informational cascades, bubbles and crashes.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Nairobi Package' of WTO was adopted in which year?

A. 2013

B. 2015

C. 2019

D. 2017

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Correct Answer: Option B

Explanation:
The Nairobi Package was adopted in 2015.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'European Union' is an example of:

A. a bilateral agreement

B. a free trade area only

C. an economic union

D. a simple customs union

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Correct Answer: Option C

Explanation:
The European Union is an economic union with deep integration, including common currency for many members.

This question belongs to: Economy GK Economy Set 1

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