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#### 12th Standard Economics English Medium Free Online Test Creative 1 Mark Questions

12th Standard EM

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Economics

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

10 x 1 = 10
1. Planned economy is also known as _________.

(a)

Capitalist Economy

(b)

Socialist Economy

(c)

Mixed Economy

(d)

All the above

2. National Income provides a comprehensive measure of _________ activities of a nation.

(a)

Economic activity

(b)

Production activity

(c)

Consumption activity

(d)

Industrial activity

3. _________ provides the social goods like public health and education etc.

(a)

Private

(b)

Government

(c)

Unorganised sector

(d)

None of these

4. Say's law of market is the core of the __________ theory of employment.

(a)

classical

(b)

economical

(c)

environmental

(d)

proportional

5. In the classical theory, one of the following is an important assumption

(a)

Wages and prices are inflexible

(b)

There is full employment

(c)

Agents are price setters

(d)

6. Formula for calculating Multiplier

(a)

$K=\frac{1}{1-MPC}$

(b)

$\frac{ΔY}{ΔI}$

(c)

$\frac{1}{MPS}$

(d)

All the above

7. Find the odd on out with context of objective factor of Consumption function

(a)

Price level

(b)

Wage level

(c)

The motive of pride

(d)

Interest rate

8. Expand the RDR

(a)

Renew deposit Ratio (RDR)

(b)

Reserve development Ratio (RDR)

(c)

Rational deposit Ratio (RDR)

(d)

Reserve deposit Ratio (RDR)

9. Credit creation means the________

(a)

(b)

Money supply

(c)

Letter of credit

(d)

All the above

10. Which of the following statement is wrong?

(a)

It is out of these primary deposits that the bank makes loans and advances to its customers.

(b)

The initiative is taken by the customers themselves. In this case, the role of the bank is passive

(c)

So these deposits are also called “Passive deposits”

(d)

None of the above