ECO | MCQs

Explanation

The 50th World Economic Forum meeting was held in Davos, Switzerland from January 21-24, 2020.

Davos, a Swiss town, has been the traditional venue for the WEF's annual gatherings.

The theme for the 2020 meeting was "Stakeholders for a Cohesive and Sustainable World."

2021: The 51st Annual Meeting was canceled due to COVID-19.

2022: The 52nd Annual Meeting took place in Davos from May 22–26, with the theme "History at a Turning Point."

2023: The 53rd Annual Meeting was held in Davos from January 16–20, themed "Cooperation in a Fragmented World."

2024: The 54th Annual Meeting is set for January 15–19 in Davos, with the theme "Rebuilding Trust."

Explanation

• • Chairmanship of BRICS for 2021: India

  • Chairmanship of BRICS for 2022: China

  • Chairmanship of BRICS for 2023: South Africa

  • Chairmanship of BRICS for 2024: Russia
• Know everything about BRICS: 
• BRICS founded: June 2009
  
• BRICS Member countries: Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates
  
• BRICS total members: 10 
• South Africa joined BRICS: 2010
• BRICS headquarters: Shanghai, China
• BRICS first conference hosted by: Russia (2009) 

Explanation

• • Chairmanship of BRICS for 2021: India

  • Chairmanship of BRICS for 2022: China

  • Chairmanship of BRICS for 2023: South Africa

  • Chairmanship of BRICS for 2024: Russia
• Know everything about BRICS: 
• BRICS founded: June 2009
  
• BRICS Member countries: Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates
  
• BRICS total members: 10 
• South Africa joined BRICS: 2010
• BRICS headquarters: Shanghai, China
• BRICS first conference hosted by: Russia (2009) 

Explanation

ECO founders: Turkey, Iran & Pakistan

Member states: 

10 members

1 observer ( Northern Cyprus)

**
ECO 10 Member state :

1Türkiye,

2 Iran

3 Pakistan 

4 Afghanistan

5 Azerbaijan

6 Kazakhstan

7 Kyrgyz Republic

8 Uzbekistan

9 Tajikistan

10 Turkmenistan

***

ECO stands for Economic Cooperation Organization 

Date of Establishment: 1985.

Headquarters: Tehran, the Islamic Republic of Iran.

Official languages: English

currency: Currency

10 currencies

Afghanistan Afghani (AFN)

Turkey Lira (TRY)

Azerbaijan Manat (AZN)

Turkmenistan Manat (TMT)

Iran Rial (IRR)

Pakistan Rupee (PKR)

Kyrgyzstan Som (KGS)

Uzbekistan Soum (UZS)

Tajikistan Somoni (TJS)

Kazakhstan Tenge (KZT)

ND12_8_2023

Explanation

CPI stands for Consumer Price Index.

It measures the average change over time in the prices paid by consumers for goods and services.

It is often used to assess inflation and cost of living.

Explanation

Capitalism emphasizes private ownership of resources and businesses.

It supports a free market where supply and demand determine prices and production.

Explanation

Poland has received significant amounts of funding from the European Union.

These funds are often for managing various aspects of the country's affairs

Other European countries like Italy and France also receive EU funds,

But Poland is often highlighted as a major recipient

Explanation

• The growth of an economy from backwards to an advanced economy is called  Economic Development.
• Economic development means the change in growth along with progressive changes in socio-economic conditions of country

Explanation

 The United States has the largest Gross National Product (GNP) among all countries

 GNP measures the total value of goods and services produced by a country's residents and businesses

Explanation

Mali and Haiti are classified as underdeveloped countries due to their low economic growth, poor infrastructure, and high poverty rates.

They struggle with political instability, weak healthcare systems, and limited industrialization.