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12th Standard Economics English Medium Free Online Test Creative One Mark Questions with Answer Key - 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. Identify the stock variable.

    (a)

    Wealth

    (b)

    Income

    (c)

    Foreign exchange

    (d)

    Money

  2. The simple circular flow model shows that:

    (a)

    Households are on the buying side of both product and resource market

    (b)

    Businesses are on the selling side of both product and resource markets

    (c)

    Households are on the selling side of the resource market and on the buying side of the product market

    (d)

    Businesses are on the buying side of the product market and on the selling side of the resource market.

  3. ________refers to saving an investment activities?

    (a)

    Firm sector

    (b)

    Household sector

    (c)

    Capital sector

    (d)

    Corporate sector

  4. ______________ returns takes place as more workers are employed.

    (a)

    Law of diminishing marginal

    (b)

    Law of equi demand

    (c)

    Law of demand

    (d)

    None of the above

  5. Which of the following was not a classical economist?

    (a)

    Adam Smith.

    (b)

    Thomas R. Malthus

    (c)

    John Stuart Mill.

    (d)

    John Maynard Keynes

  6. What is relevant in the context of MEC?
    I. The prospective yield from a capital asset.
    II. The supply price of a capital asset.

    (a)

    I only relevant

    (b)

    II only relevant

    (c)

    Both I and II are relevant

    (d)

    Both are irrelevant

  7. The symbol of India rupee came into use on________

    (a)

    15th July, 2010

    (b)

    16th July, 2010

    (c)

    15th June, 2010

    (d)

    16th June, 2010

  8. The development of money as a medium of exchange has facilitated the expansion of trade because

    (a)

    Holding money increases people's income

    (b)

    No other mediums of exchange are available

    (c)

    Money eliminates the "double coincidence of wants" problem

    (d)

    Holding money increases people's wealth

  9. _____ insists the banks to maintain a ratio between the total deposits they create and the cash in their possession.

    (a)

    New Bank of India

    (b)

    Central Bank

    (c)

    Development Bank

    (d)

    Federal Bank

  10. Which bank was introduced first ATM machine in India?

    (a)

    RBI

    (b)

    HSBC

    (c)

    PNB

    (d)

    ICICI bank

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