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12th Standard Economics English Medium Free Online Test One Mark Questions with Answer Key 2020 - Part Eight

12th Standard

    Reg.No. :
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Economics

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

    Answer all the questions

    10 x 1 = 10
  1. Socialist Economy promote  __________.

    (a)

    Social welfare motive

    (b)

    Collective welfare motive

    (c)

    Profit motive

    (d)

    Both 'a' and 'b'

  2. How many models of circular flow of economy are there?

    (a)

    One

    (b)

    Three

    (c)

    Five

    (d)

    Two

  3. Which of the following could not be considered a major economic system?

    (a)

    capitalism.

    (b)

    communism.

    (c)

    socialism.

    (d)

    secularism.

  4. The average income of the country is________

    (a)

    Personal Income

    (b)

    Per capita income

    (c)

    Inflation Rate

    (d)

    Disposal Income

  5. _________ Income is the buying power of nominal income.

    (a)

    Gross Income

    (b)

    Real Income

    (c)

    Percapita Income

    (d)

    National Income

  6. Which of the following includes five types of final goods and services?

    (a)

    GNP

    (b)

    GDP

    (c)

    NDP

    (d)

    NNP

  7. ________________ started functioning from 1st July 1963.

    (a)

    ARDC

    (b)

    IMF

    (c)

    RBI

    (d)

    SBI

  8. In the Keynesian two sector economy, AD>AS, then

    (a)

    S=I

    (b)

    S>

    (c)

    S<I

    (d)

    S=0

  9. NABARD was set up in

    (a)

    July 1962

    (b)

    July 1972

    (c)

    July 1982

    (d)

    July 1992

  10. The major contributor of Carbon monoxide is

    (a)

    Automobiles

    (b)

    Industrial process

    (c)

    Stationary fuel combustion

    (d)

    None of the above

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