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

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. The branches of the subject Economics is

    (a)

    Wealth and welfare

    (b)

    production and consumption

    (c)

    Demand and supply

    (d)

    micro and macro

  2. Indicate the fundamental economic activities of an economy

    (a)

    Production and Distribution

    (b)

    Production and Exchange

    (c)

    Production and Consumption

    (d)

    Production and Marketing

  3. Identify The Father of Socialism

    (a)

    J M Keynes

    (b)

    Karl Marx

    (c)

    Adam Smith

    (d)

    Samuelson

  4. Micro means __________.

    (a)

    Large

    (b)

    Big

    (c)

    Small

    (d)

    Both 'a' and 'b'

  5. 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.

  6. __________ is measured by using three method.

    (a)

    National Income

    (b)

    Domestic Income

    (c)

    Per capita Income

    (d)

    Personal Income

  7. Assertion (A) :National income by product method is measured by the value of final goods and services at current market prices.
    Reason (R) : Economists calculate the real national income at a constant price level by the consumer price index.

    (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.

  8. Find the author of book, “The General Theory of Employment, Interest and Money” published in 1936.

    (a)

    David Ricardo

    (b)

    J. S. Mill

    (c)

    J. M. Keynes

    (d)

    J. B. Say

  9. NBFI does not have.

    (a)

    Banking license

    (b)

    government approval

    (c)

    Money market approval

    (d)

    Finance ministry approval

  10. Methods of repayment of public debt is

    (a)

    Conversion

    (b)

    Sinking fund

    (c)

    Funded debt

    (d)

    All these

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