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Economics M.C.Q (1 Marks)

Model Paper 4 · CBSE STD 12 Commerce (CBSE - English Medium). 10 questions.

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M.C.Q (1 Marks)

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10 questions · timed · auto-graded

MCQ 11 Mark
Farmers cannot retain the product for a long time they have to sell it immediately. Which defect of agriculture is shown in this system?
Image
  • A
    Lack of information
  • B
    Distress sale
  • C
    Unregulated market
  • D
    False weight
Answer
(b) Distress sale
Explanation: Most of the Indian farmers are very poor and thus have no capacity to wait for a better price of his produce in the absence of proper credit facilities. Farmers often have to go for even distress sale of their output to the village moneylenders-cum-traders at a very poor price.
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MCQ 21 Mark
Select the correct combination between the following columns.
Column AColumn B
(a) Socialism(i) Coexistence of both public and public sector
(b) Capitalism(ii) Produced goods are distributed on the basis of purchasing power of the people.
(c) Mixed economic system(iii) What, how and for whom to produce
(d) Central problems of an economic system(iv) Produced goods are distributed on the basis of need and not affordability.
  • A
    (a) - (ii), (b) - (iv), (c) - (i), (d) (iii)
  • B
    (a) - (iv), (b) - (i), (c) - (ii), (d) (iii)
  • C
    (a) - (iv), (b) - (ii), (c) - (i), (d) (iii)
  • D
    a) - (i), (b) - (iv), (c) - (ii), (d) (iii)
Answer
(c) (a) - (iv), (b) - (ii), (c) - (i), (d) - (iii)
Explanation: (a) - (iv), (b) - (ii), (c) - (i), (d) - (iii)
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MCQ 31 Mark
Statement I: During the colonial period, The agricultural sector accounted for the largest share of workforce, which usually remained at a high of 70-75 per cent while the manufacturing and the services sectors accounted for only 10 and 15-20 per cent respectively.
Statement II: Parts of the then Madras Presidency (comprising areas of the present-day states of Tamil Nadu, Andhra Pradesh, Kerala and Karnataka),Bombay and Bengal witnessed a decline in the dependence of the workforce on the agricultural sector with a commensurate increase in the manufacturing and the services sectors.
  • A
    Statement II is true, but statement I is false.
  • B
    Statement I is true, but statement II is false.
  • C
    Both the statements are false.
  • D
    Both the statements are true.
Answer
(d) Both the statements are true.
Explanation: Both the statements are true
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MCQ 41 Mark
In Delhi, the use of _____ as fuel in public transport system has significantly lowered air pollution.
  • A
    LPG
  • B
    CNG
  • C
    petrol
  • D
    Diesel
Answer
(b) CNG
Explanation: CNG never produce smoke. CNG is Eco friendly.
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MCQ 51 Mark
China has the ______ largest GDP.
  • A
    third
  • B
    second
  • C
    fourth
  • D
    first
Answer
(b) second
Explanation: China is the second largest economy in the world with a GDP of about 11.22 trillion dollars.
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MCQ 61 Mark
Just as a country can turn physical resources like land into physical capital like factories, similarly, it can also turn human resources like students into ________ like engineers and doctors.
  • A
    Human Capital
  • B
    Economic development
  • C
    Human Capital Formation
  • D
    Economic Growth
Answer
(a) Human Capital
Explanation: Human Capital
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MCQ 71 Mark
Assertion (A): In order to manage the crisis, India approached IMF and World Bank which granted $7 Billion as a loan.
Reason (R): Foreign exchange reserves declined to its lowest level with a reluctance from other countries to lend to India.
  • 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.
Answer
(a) Both A and R are true and R is the correct explanation of A.
Explanation: Both A and R are true and R is the correct explanation of A.
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MCQ 81 Mark
In accordance with the goal of the state controlling the commanding heights of the economy, ________ was adopted. This resolution formed the basis of the second Five Year Plan, the plan which tried to build the basis for a socialist pattern of society.
  • A
    Industrial Policy Resolution, 1948
  • B
    )Industrial Policy Resolution, 1956
  • C
    Village and Small-scale Industries Committee 1955
  • D
    Industrial Policy Resolution, 1966
Answer
(b) Industrial Policy Resolution, 1956
Explanation: Industrial Policy Resolution, 1956
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MCQ 91 Mark
The nature of Pakistan's economy is:
  • A
    Mixed
  • B
    Socialist
  • C
    Capitalist
  • D
    Communist
Answer
(a) Mixed
Explanation: After repeated attempts at economic restructuring, Pakistan is currently operating in a mixed economy where stateowned enterprises account for the bulk of gross domestic product (GDP). The country has tried many economic structure during its existence.
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MCQ 101 Mark
When a person quits in order to find a second job it may cause temporary unemployment
  • A
    Cyclic unemployment
  • B
    Rural unemployment
  • C
    Open unemployment
  • D
    Frictional unemployment
Answer
(d) Frictional unemployment
Explanation: Frictional unemployment is when workers leave their jobs to find better ones. It's usually a voluntary exit but can also result from a layoff or termination with cause. Friction is the time, effort, and expense it takes the worker to find a new job.
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M.C.Q (1 Marks) - Economics STD 12 Commerce Questions - Vidyadip