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

12th Standard

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Economics

Time : 00:10:00 Hrs
Total Marks : 10
    Answer all the questions
    10 x 1 = 10
  1. ________ is a combination of both capitalism and socialism.

    (a)

    Socialistic economy

    (b)

    Capitalistic economy

    (c)

    Traditional economy

    (d)

    Mixed economy

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

    (a)

    Net Investment

    (b)

    Investment

    (c)

    Gross Investment

    (d)

    Botha' and 'b'

  3. In the classical model:

    (a)

    flexible markets will keep the economy at a full-employment level of spending and output

    (b)

    both households’ saving activity and firms’ investment activity are quite sensitive to changes in the interest rate.

    (c)

    adjustments in the interest rates quickly correct any imbalances between saving and investment

    (d)

    all of the above

  4. As increase in consumption at any given level of income is likely to lead

    (a)

    Higher aggregate demand

    (b)

    An increase in exports

    (c)

    A fall in taxation revenue

    (d)

    A decrease in import spending

  5. During depression the level of economic activity becomes extremely

    (a)

    high

    (b)

    bad

    (c)

    low

    (d)

    good

  6. Moral suasion refers.

    (a)

    Optimization

    (b)

    Maximization

    (c)

    Persuasion

    (d)

    Minimization

  7. Favourable trade means value of exports are ________ Than that of imports.

    (a)

    More

    (b)

    Less

    (c)

    More or Less

    (d)

    Not more than

  8. The Tenth BRICS Summit was held in July 2018 at

    (a)

    Beijing

    (b)

    Moscow

    (c)

    Johannesburg

    (d)

    Brasilia

  9. Environmental goods are ____________

    (a)

    Market goods

    (b)

    Non-market goods

    (c)

    Both

    (d)

    None ofthe above

  10. Perspective plan is also known as______

    (a)

    Short-term plan

    (b)

    Medium-term plan

    (c)

    Long-term plan

    (d)

    None of the above

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TN 12th Standard Economics free Online practice tests

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