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12th Standard Economics English Medium Free Online Test 1 Mark Questions 2020 - Part Four

12th Standard

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Economics

Time : 00:10:00 Hrs
Total Marks : 10

    Answer all the questions

    10 x 1 = 10
  1. Combination of both capitalism and socialism ________.

    (a)

    Capitalist Economy

    (b)

    Traditional Economy

    (c)

    Mixed Economy

    (d)

    Socialist Economy

  2. _______used in economic analysis are classified as stock and flow

    (a)

    Models

    (b)

    Variables

    (c)

    Charts

    (d)

    Equations

  3. National income is a measure of the__________ performance of an economy

    (a)

    Industrial

    (b)

    Agricultural

    (c)

    Economic

    (d)

    Consumption

  4. The component of aggregate demand is__________

    (a)

    Personal demand

    (b)

    Government expenditure

    (c)

    Only export

    (d)

    Only import

  5. Which of the following is main cause for deforestation?

    (a)

    Timber harvesting industry

    (b)

    Natural afforestation

    (c)

    Soil stabilization

    (d)

    Climate stabilization

  6. The period of Eighth plan was

    (a)

    1978-83

    (b)

    1985-90

    (c)

    1992-97

    (d)

    1990-95

  7. Associate the following conditions to a suitable type of economy.
    “Low per capita income, widespread poverty, wide inequality in distribution of income and wealth, overpopulation, low rate of capital formation, high rate of unemployment, technological backwardness, dualism, etc.”

    (a)

    developed economy

    (b)

    Underdeveloped economy

    (c)

    mixed economy

    (d)

    advanced economy

  8. _______________ is peculiar to the mixed economies.

    (a)

    Financial Planning

    (b)

    Structural Planning

    (c)

    Indicative planning

    (d)

    Physical Planning

  9. Assertion (A): The prime goals of economic planning are stabilization in developed countries and growth in LDCs.
    Reason (R): The failure of market mechanism invited state intervention in economic activities through planning.

    (a)

    Both A and R are true and R is the correct explanation of A.

    (b)

    Both A and R are true but R is not the correct explanation of A.

    (c)

    A is true but R is false

    (d)

    A is false but R is true.

  10. If there is a very strong correlation between two variables then the correlation coefficient must be

    (a)

    any value larger than 1

    (b)

    much smaller than 0, if the correlation is negative

    (c)

    much larger than 0, regardless of whether the correlation is negative or positive

    (d)

    None of these alternatives is correct.

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