Minimum Support Price

Minimum Support Price is the minimum price at which government purchases crops from the farmers, whatever may be the price for the crops. It gives sufficient amount to the farmers for their crops. It saves the farmers from depleting profit during the bumper production years.


A cartel is an agreement between competing firms to control prices or exclude entry of a new competitor in a market. It is a formal organization of sellers or buyers that agree to fix selling prices, purchase prices, or reduce production using a variety of tactics. OPEC (Organisation of Petroleum Exporting Countries) is the example of cartel.


When a single firm has total control of a product in a particular sector, this phenomenon is known as the Monopoly. In monopoly there is no competition in the market for that product and the firm can charge any price from customers because they are the only one in the market who are providing that product. A monopoly exists when a specific person or enterprise is the only supplier of a particular commodity. E.g: Cement and Oil companies.


Monopsony is a market situation in which there is only one buyer and several sellers are trying to sell their goods to that particular buyer. A monopsony occurs when a single firm acts as a sole purchaser for multiple sellers, driving down the price of seller inputs through the amount of quantity that it demands.

Administered Price

Price which is controlled by some institution, in most cases the institution will be government. e.g: Controlling the price of petrol and LPG.

Footloose Industries

Footloose industry is a general term for an industry that can be placed and located at any location without effect from factors such as resources or transport. These industries often have spatially fixed costs, which mean that the costs of the products do not change despite where the product is assembled. For e.g: Software Industries.


When government sells shares of a government company to a private company or public this process is called as disinvestment.

Third World Countries

"Third World" is a phrase commonly used to describe a developing nation, but actually started as term used to describe a country's that remained non-aligned with either NATO, or the Communist Bloc. The United States, Western European nations and their allies represented the First World, while the Soviet Union, China, Cuba, and their allies represented the Second World. The countries which remained neutral comes under the third world countries.


Arbitrage is the simultaneous purchase and sale of securities, currency, or commodities from one market to another market where there is a difference in price to make profit. In arbitrage a person buy foreign currency or commodity from the place where it is available at lowest price and sells it to the place where it is available at higher price.

Black money

Money for which tax is not paid or which is earned through illegal means is known as the black money.

Blue Chip Companies

Blue Chip Company is very strong financially, with a solid track record of producing earnings and only a moderate amount of debt. It also has a strong name in its industry with dominant products or services. Typically, these companies are large (international) corporations that have been in business for many years and are considered to be very stable. Investments in blue chip company’s shares are mostly safe.

Conspicuous Consumption

Conspicuous consumption is the purchase of luxury goods or services for the specific purpose of displaying one's wealth. Conspicuous consumption is a means to show ones social status, especially when the goods and services publicly displayed are too expensive for other members of a person's class.

Cheap Money

Money which is available lowest interest rate is known as cheap money. For e.g: Agriculture Loan.

Dear Money

Money which is available at the highest interest rate in market. For E.g: Gold Loan, Personal Loan etc.

Complementary Goods

Complementary goods are those goods, which depends on each other. Increase in the price of one commodity affect the demand of the other commodity. For E.g: Shoes and Socks, Ink and pen.


A traditional system of transferring money used in Arab countries and South Asia, whereby the money is paid to an agent who then instructs an associate in the relevant country or area to pay the final recipient. Transactions between Hawala brokers are done without promissory notes because the system is heavily based on trust.

Point of Sale (POS)

It is a place where retail transactions are carried out generally we use a card swipe machine to make transactions at POS.

PAN Card

A Permanent Account Number (PAN) is   a ten-digit alphanumeric number, issued in the form of a laminated card, by the Income Tax Department, to any person who applies for it.

Latest Current Affaris

Current affairs 05/06/2019
Current affairs 05/06/2019

1). Comptroller and auditor general Rajiv Mehrishi has been appointed as the external auditors of World Health Organisation (WHO) for a four year term from 2020-23. 2).World Environment Day is observed on 5 June(Theme: The Air Pollution). 3). Madhya Pradesh cabinet has passed a resolution to increase reservation of OBC's 27%.

करंट अफेयर्स 03-04/06/2019
करंट अफेयर्स 03-04/06/2019

1. नयब बुकेले को ईआई सल्वाडोर के राष्ट्रपति के रूप में चुना गया है। (ईआई सल्वाडोर की राजधानी: सैन सल्वाडोर, मुद्रा: संयुक्त राज्य अमेरिका डॉलर) 2. राष्ट्रीय सुरक्षा सलाहकार (NSA) अजीत डोभाल की दोबारा अपने पद पर नियुक्ति हुई। NDA सरकार के दूसरे कार्यकाल में उन्हें कैबिनेट रैंक दिया गया है। 3. 3 जून को विश्व साइकिल दिवस मनाया जाता है।

Current affairs 03-04/06/2019
Current affairs 03-04/06/2019

1. Nyaib Bukele has been Sworn in as the president of  EI Salvador ( EI Salvador's capital: San Salvador, currency: United States Dollar). 2. National Security Advisor (NSA) Ajit Doval reappointed to his post and given Cabinet rank in the second term of the NDA government. 3. World Bicycle Day is observed on 3rd June .

Current Affairs Quiz

डेली जीके क्विज 17/05/2019
डेली जीके क्विज 17/05/2019

1. भारतीय नौसेना प्रमुख का नाम बताएं? 2. हाल ही में ICC द्वारा पहली महिला मैच रेफरी के रूप में किसे नियुक्त किया गया है? 3. हाल ही में एक हल्के खेल विमान (एलएसए) में अटलांटिक महासागर को पार करने वाली दुनिया की पहली महिला कौन बनी है?

Daily Gk Quiz 17/05/2019
Daily Gk Quiz 17/05/2019

1. Name the Indian Navy Chief? 2. Recently who has been appointed as first female match referee by ICC? 3. Recently who has becomes the world’s first woman to cross the Atlantic Ocean solo in a light sports aircraft (LSA)?

डेली जीके क्विज 29/09/2018
डेली जीके क्विज 29/09/2018

प्रश्न 1)। हाल ही में एशियाई विकास बैंक (एडीबी) ने राज्य में रोजगार को बढ़ावा देने के लिए मध्य प्रदेश में पहला बहु-कौशल पार्क स्थापित करने के लिए 150 मिलियन डॉलर के ऋण को मंजूरी दे दी है। एडीबी के अध्यक्ष कौन हैं? प्रश्न 2)। परकर्म परव किस अवसर पर मनाया जा रहा है? प्रश्न 3)। भारत की लाइव स्टॉक जनगणना 1 अक्टूबर से शुरू होने वाली है। इस तरह की कितनी जनगणना पहले आयोजित की गई है और यह कौन सी जनगणना है?