GCI - GS questions based on daily current affairs

1)   Which of the following are among the 12 pillars which determine the Global Competitiveness Index?

1) Institutions
2) Technological readiness
3) Innovation

a. 1, 3
b. 2, 3
c. 1, 2
d. All of the above
Answer  Explanation 

ANSWER: All of the above

Explanation:

  • 12 pillars underlying GCI include

    • 1. Institutions,
    2. Infrastructure,
    3. Macroeconomic environment,
    4. health and primary education,
    5. higher education and training,
    6. goods market efficiency,
    7. labour market efficiency,
    8. financial market development,
    9. technological readiness,
    10. market size,
    11. business sophistication and
    12. innovation
  • India’s competitiveness has improved this year across the board, in particular in goods market efficiency, business sophistication and innovation.
  • The macroeconomic environment also improved due to better monetary and fiscal policies and lower oil prices.
2)   How many pillars (factors) are taken into account while determining the Global Competitiveness Index?

a. 12
b. 10
c. 16
d. 9
Answer  Explanation 

ANSWER: 12

Explanation:

  • The Global Competitiveness Index released by the World Economic Forum is one of the major studies which indicates how a country scores in the scale of global competitiveness.
  • The Index is calculated by aggregating indicators across 12 pillars which again are clubbed together in three broad sub-indices, namely basic requirements, efficiency enhancers and innovation and sophistication factors.
  • The report covers both business and social indicators which, directly or indirectly, impacts the competitiveness of the country in the global arena.

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