By QB365 on 31 Dec, 2022
QB365 provides a detailed and simple solution for every Possible Questions in Class 12 Economics Subject - Important 1 Mark MCQ's, English Medium. It will help Students to get more practice questions, Students can Practice these question papers in addition to score best marks.
12th Standard
Economics
Answer all the following Questions.
Identify the other name for Macro Economics
Price Theory
Income Theory
Market Theory
Micro Theory
Identify the necessity of Economic policies
to solve the basic problems
to overcome the obstacles
to achieve growth
all the above
Identify The Father of Socialism
J M Keynes
Karl Marx
Adam Smith
Samuelson
Primary sector is ________
Industry
Trade
Agriculture
Construction.
National income is a measure of the__________ performance of an economy
Industrial
Agricultural
Economic
Consumption
The largest proportion of national income comes from___________
Private sector
Local sector
Public sector
None of the above
In disguised unemployment, the marginal productivity of labour is _________
Zero
One
Two
Positive
_________ Flexibility brings equality between saving and investment
Demand
Supply
Capital
Interest
Say’s law stressed the operation of________ in the economy
Induced price mechanism
Automatic price mechanism
Induced demand
Induced investment
As increase in consumption at any given level of income is likely to lead
Higher aggregate demand
An increase in exports
A fall in taxation revenue
A decrease in import spending
When investment is assumed autonomous the slope of the AD schedule is determined by the______
marginal propensity to invest
disposable income
marginal propensity to consume
average propensity to consume
Paper currency system is managed by the
Central Monetary authority
State Government
Central Government
Banks
___________inflation occurs when general prices of commodities increases due to increase in production costs such as wages and raw materials.
Cost-push
demand pull
running
galloping
Bank credit refers to
Bank Loans
Advances
Bank loans and advances
Borrowings
Bank Rate means.
Re-discounting the first class securities
Interest rate
Exchange rate
Growth rate
ARDC started functioning from
June 3, 1963
July 3, 1963
June 1, 1963
July 1, 1963
2016 Demonetization of currency includes denominations of
Rs.500 and Rs.1000
Rs.1000 and Rs.2000
Rs.200 and Rs.500
All the above
In general, a primary reason why nations conduct international trade is because
Some nations prefer to produce one thing while others produce another
Resources are not equally distributed among all trading nations
Trade enhances opportunities to accumulate profits
Interest rates are not identical in all trading nations
Who among the following enunciated the concept of single factoral terms of trade?
Jacob Viner
G.S.Donens
Taussig
J.S.Mill
Benefits of FDI include, theoretically
Boost in Economic Growth
Increase in the import and export of goods and services
Increased employment and skill levels
All of these
International Monetary Fund is having its headquarters at
Washington D.C.
New York
Vienna
Geneva
The other name for Special Drawing Rights is
Paper gold
Quotas
Voluntary Export Restrictions
None of these
International Development Association is an affiliate of
IMF
World Bank
SAARC
ASEAN
The term BRIC was coined in
2001
2005
2008
2010
The tax possesses the following characteristics
Compulsory
No quid pro quo
Failure to pay is offence
All the above
Which of the following is a direct tax?
Excise duty
Income tax
Customs duty
Service tax
Consider the following statements and identify the right ones.
(i) The finance commission is appointed by the President
(ii) The tenure of Finance commission is five years
i only
ii only
both
none
Which one of the following causes of global warming?
Earth gravftation force
Oxygen
Centripetal force
Increasing temperature
Primary cause of Soil pollution is ________
Pest control measures
Land reclamation
Agricultural runoff
Chemical fertilizer
Alkali soils are predominantly located in the _______ plains?
Indus-Ganga
North-Indian
Gangetic plains
All the above
Which among the following is a characteristic of underdevelopment?
Vicious circle of poverty
Rising mass consumption
Growth of Industries
High rate of urbanization
Economic growth measures the_______
Growth of productivity
Increase in nominal income
Increase in output
None of the above
Which of the following country adopts indicative planning?
France
Germany
Italy
Russia
Sarvodaya Plan was advocated by__________
Mahatma Gandhi
J.P.Narayan
S.N Agarwal
M.N. Roy
The word 'statistics' is used as _______
Singular.
Plural
Singular and Plural.
None of above
The value of the coefficient of correlation r lies between
0 and 1
-1 and 0
-1 and +1
-0.5 and +0.5
Econometric is the word coined by
Francis Galton
Ragnar Frish
Karl Person
Spearsman
Econometrics is the amalgamation of
3 subjects
4 subjects
2 subjects
5 subjects
Planned economy is also known as _________.
Capitalist Economy
Socialist Economy
Mixed Economy
All the above
The total money value of final goods and services produced in the country excluding depreciation is called _________.
NDP
GDP
NNP
GNP
_________ is only a medium of exchange.
Money
Goods
Labour
Service
The Great Depression of 1930s was also caused by a _______________
Fall in investment
Income and consumption
Income and employment
Interest and money
Gold Standard is a system in which the value of the monetary unit or the standard currency is _____ linked with gold.
directly
indirectly
positively
negatively
__________refers to persuasion
Growth rate
Minimization
Optimization
Moral Suasion
Viner has devised another concept called ________.
The single factoral terms of trade
Net Barter terms of trade
Gross Barter terms of trade
Internal trade
WTO is planned to organize 12th ministerial conference at _________ in 2020.
Russia
China
Kazakhstan
South Africa
Public revenue can be classified into ____________
Two
Three
Four
Five
Find the missing agent of economy.
Producer’s Recycle
Distributor
Consumers
None of the above
"Strictly speaking all economic life involves planning" was said by
Alfred Marshall
Lionel Robbins
J.M. Keynes
Schumpeter
There are two major types of statistics named as _________ and __________ based on nature.
new statistics and old statistics
descriptive statistics and inferential statistics
numerical statistics and inferential statistics
none of the above
Answers
Income Theory
all the above
Karl Marx
Agriculture
Economic
Private sector
Zero
Interest
Automatic price mechanism
Higher aggregate demand
marginal propensity to consume
Central Monetary authority
Cost-push
Bank loans and advances
Re-discounting the first class securities
July 1, 1963
Rs.500 and Rs.1000
Resources are not equally distributed among all trading nations
Jacob Viner
All of these
Washington D.C.
Paper gold
World Bank
2001
All the above
Income tax
both
Increasing temperature
Chemical fertilizer
All the above
Vicious circle of poverty
Increase in output
Germany
J.P.Narayan
Singular and Plural.
-1 and +1
Ragnar Frish
3 subjects
Socialist Economy
NDP
Money
Fall in investment
directly
Moral Suasion
The single factoral terms of trade
Kazakhstan
Four
Consumers
Lionel Robbins
descriptive statistics and inferential statistics