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

12th Standard

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Economics

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

    Answer all the questions

    10 x 1 = 10
  1. What is the term coined by Manfred D Steger (2002) to denote the new market ideology of globalisation that connects nations together through internationa trade and aiming at global development?

    (a)

    Extended Capitalism

    (b)

    Confined Capitalism

    (c)

    Favourable Capitalism

    (d)

    None of above

  2. Assertion (A) :Each individual and organization produce only those goods which ensure high profit.
    Reason (R) :Profit is the driving force behind all economic activities in a capitalistic economy

    (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

  3. Per capita income is obtained by dividing the National income by__________

    (a)

    Production

    (b)

    Population of a country

    (c)

    Expenditure

    (d)

    GNP

  4. Inventories of finished and unfinished goods are called _________.

    (a)

    Net Investment

    (b)

    Investment

    (c)

    Gross Investment

    (d)

    Botha' and 'b'

  5. In _______ method, themeasuresof GDP are calculated by adding all the expenditures made in the economy.

    (a)

    Income

    (b)

    Expenditure

    (c)

    Product

    (d)

    All the above

  6. Given the equation, which of the following is wrong? Y = w + r + i + π + (R-P)

    (a)

    w = wages

    (b)

    r = rent

    (c)

    i = interest

    (d)

    π = income

  7. Bank Rate means.

    (a)

    Re-discounting the first class securities

    (b)

    Interest rate

    (c)

    Exchange rate

    (d)

    Growth rate

  8. Consider the following statements and identify the correct ones.
    (i) Central government does not have exclusive power to impose tax which is not mentioned in state or concurrent list.
    (ii) The Constitution also provides for transferring certain tax revenues from union list to states.

    (a)

    i only

    (b)

    ii only

    (c)

    both

    (d)

    none

  9. Primary cause of Soil pollution is ________

    (a)

    Pest control measures

    (b)

    Land reclamation

    (c)

    Agricultural runoff

    (d)

    Chemical fertilizer

  10. The purpose of simple linear regression analysis is to:

    (a)

    Predict one variable from another variable

    (b)

    Replace points on a scatter diagram by a straight -line

    (c)

    Measure the degree to which two variables are linearly associated

    (d)

    Obtain the expected value of the independent random variable for a given value of the dependent variable

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