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Introduction to Macro Economics Model Question Paper

12th Standard EM

    Reg.No. :
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Economics

Time : 02:00:00 Hrs
Total Marks : 60
    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. A steady increase in general price level is termed as_____________.

    (a)

    wholesale price index

    (b)

    Business Cycle

    (c)

    Inflation

    (d)

    National Income

  3. Indicate the fundamental economic activities of an economy

    (a)

    Production and Distribution

    (b)

    Production and Exchange

    (c)

    Production and Consumption

    (d)

    Production and Marketing

  4. Who is referred as ‘Father of Capitalism’?

    (a)

    Adam Smith

    (b)

    Karl Marx

    (c)

    Thackeray

    (d)

    J M Keynes

  5. Quantity of a commodity accumulated at a point of time is termed as ____________..

    (a)

    production

    (b)

    stock

    (c)

    variable

    (d)

    flow

  6. Micro means __________.

    (a)

    Large

    (b)

    Big

    (c)

    Small

    (d)

    Both 'a' and 'b'

  7. Planned economy is also known as _________.

    (a)

    Capitalist Economy

    (b)

    Socialist Economy

    (c)

    Mixed Economy

    (d)

    All the above

  8. Combination of both capitalism and socialism ________.

    (a)

    Capitalist Economy

    (b)

    Traditional Economy

    (c)

    Mixed Economy

    (d)

    Socialist Economy

  9. The right to property exists largely in _______.

    (a)

    Traditional society

    (b)

    Capitalism

    (c)

    Socialism

    (d)

    Mixed economy

  10. Non-interference of the state is a characteristic features of the ___________.

    (a)

    Socialist Economy

    (b)

    Capitalist Economy

    (c)

    Traditional Economy

    (d)

    Command Economy

  11. 5 x 1 = 5
  12. Aggregate Economics

  13. (1)

    Socialistic Economy

  14. Socialist Economy

  15. (2)

    Cuba

  16. Mixed Economy

  17. (3)

    Income Theory

  18. Role of Government

  19. (4)

    Command Economy

  20. Socialist Country

  21. (5)

    Co-existence of both public and private

    2 x 2 = 4
  22. General Economics Systems:
    (a) Indian economy
    (b) Capitalist economy
    (c) Socialist economy
    (d) Mixed economy

  23. Demerits of Socialism
    (a) Read Tapism and Bureaucracy
    (b) Reduction in inequalities
    (c) Absence of incentives
    (d) Limited freedom of choice

  24. 8 x 2 = 16
  25. Define Macro Economics

  26. What is meant by an ‘Economy’?

  27. What do you mean by Capitalism?

  28. Define ‘Economic Model"

  29. What is Globalism?

  30. What is Mixed Economy?

  31. What are the different models of circular flow of income?

  32. What is Globalisation?

  33. 5 x 5 = 25
  34. Discuss the scope of Macro Economics

  35. Compare the features of capitalism and socialism

  36. Explain the four sector circular flow model.

  37. Explain the Demerits of capitalism.

  38. Explain the concepts of macro economics

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