New ! Economics MCQ Practise Tests



12th Standard Economics Revision Model Question Paper With Answer Key

12th Standard

    Reg.No. :
  •  
  •  
  •  
  •  
  •  
  •  

Economics

Time : 02:30:00 Hrs
Total Marks : 90

        PART  - I

    Note : i ) All Questions Are Compulsory.

             ii) Choose The Most Suitable  Answer From The Given Four Correct Alternatives.

    20 x 1 = 20
  1. The branches of the subject Economics are

    (a)

    Wealth and Welfare

    (b)

    Production and Consumption

    (c)

    Demand and Supply

    (d)

    Micro and Macro

  2. Expenditure method is used to estimate national income in_______

    (a)

    Construction sector

    (b)

    Agricultural Sector

    (c)

    Service sector

    (d)

    Banking sector

  3. Keynes attributes unemployment to_______.

    (a)

    A lack of effective supply

    (b)

    A lock of effective demand

    (c)

    A lack of both

    (d)

    None of the above

  4. The average propensity to consume is measured by _____.

    (a)

    C/Y

    (b)

    CxY

    (c)

    Y/C

    (d)

    C+Y

  5. Paper currency system is managed by the______.

    (a)

    Central Monetary authority

    (b)

    State Government

    (c)

    Central Government

    (d)

    Banks

  6. When prices rise slowly, we call it

    (a)

    galloping inflation

    (b)

    mild inflation

    (c)

    hyper inflation

    (d)

    deflation

  7. A Bank is a

    (a)

    Financial institution

    (b)

    Corporate

    (c)

    An Industry

    (d)

    Service institutions

  8. Online Banking is also known as.

    (a)

    E-Banking

    (b)

    Internet Banking

    (c)

    RTGS

    (d)

    NEFT

  9. Trade between two countries is known as ____ trade

    (a)

    External

    (b)

    Internal

    (c)

    Inter-regional

    (d)

    Home

  10. Which of the following is not an example of foreign direct investment?

    (a)

    the construction of a new auto assembly plant overseas

    (b)

    the acquisition of an existing steel mill overseas

    (c)

    the purchase of bonds or stock issued by a textile company overseas

    (d)

    the creation of a wholly owned business firm overseas

  11. The other name for Special Drawing Rights is

    (a)

    Paper gold

    (b)

    Quotas

    (c)

    Voluntary Export Restrictions

    (d)

    None of these

  12. New Development Bank is associated with

    (a)

    BRICS

    (b)

    WTO

    (c)

    SAARC

    (d)

    ASEAN

  13. The tax possesses the following characteristics

    (a)

    Compulsory

    (b)

    No quid pro quo

    (c)

    Failure to pay is offence

    (d)

    All the above

  14. The word budget has been derived from the French word "bougette" which means

    (a)

    A small bag

    (b)

    An empty box

    (c)

    A box with papers

    (d)

    None of the above

  15. One of the most important market failures is caused by __________

    (a)

    Positive externalities

    (b)

    Negative externalities

    (c)

    Both

    (d)

    None of the above

  16. Electronic waste is commonly referred as _______

    (a)

    solid waste

    (b)

    composite waste

    (c)

    e-waste

    (d)

    hospital waste

  17. Which is not the feature of economic growth?

    (a)

    Concerned with developed nations

    (b)

    Gradual change

    (c)

    Concerned with quantitative aspect

    (d)

    Wider concept

  18. Which of the following country adopts indicative planning?

    (a)

    France

    (b)

    Germany

    (c)

    Italy

    (d)

    Russia

  19. Sources of secondary data are______

    (a)

    Published sources

    (b)

    Unpublished sources

    (c)

    Neither published nor unpublished sources

    (d)

    Both (a) and (b)

  20. A measure of the strength of the linear relationship that exists between two variables is called:

    (a)

    Slope

    (b)

    Intercept

    (c)

    Correlation coefficient

    (d)

    Regression equation

  21.  PART  - II

    Note : Answer Any Seven Questions and Question.No.30 is Compulsory.

    7 x 2 = 14
  22. Define Macro Economics

  23. Define National Income.

  24. What is consumption function?

  25. Define Money.

  26. Define Commercial banks.

  27. Define International trade.

  28. Write the meaning of Special Drawing rights.

  29. State the meaning of environment.

  30. Define economic development

  31. What is Statistics?

  32.    PART  - III

    Note : Answer Any Seven Questions and Question.No.40 is Compulsory.

    7 x 3 = 21
  33. State the importance of Macro Economics.

  34. List out the uses of national income.

  35. Write any five differences between classicism and Keynesianism.

  36. Write a note on metallic money.

  37. Give a brief note on NBFI.

  38. Describe the subject matter of International Economics.

  39. List out the achievements of BRICS.

  40. Mention any three methods of redemption of public debt.

  41. Explain different types of air pollution.

  42. What are the functions of NITI Aayog?

  43.  PART  - IV

    Note : Answer all the Questions.

    7 x 5 = 35
    1. Discuss the scope of Macro Economics.

    2. Explain the importance of national income

    1. Describe the types of unemployment.

    2. Explain Keynes psychological law of consumption function with diagram.

    1. Describe the phases of Trade cycle.

    2. What are the objectives of Monetary Policy? Explain.

    1. Explain the relationship between Foreign Direct Investment and Economic development.

    2. Explain the objectives of IMF.

    1. Explain the scope of public finance.

    2. Briefly explain the relationship between GDP growth and the quality of environment.

    1. Discuss the economic determinants of economic development.

    2. Bring out the arguments against planning.

    1. Elucidatethe nature and scope of Statistics.

*****************************************

Reviews & Comments about 12th Standard Economics English Medium - Revision Model Question Paper with Answer Key 2022 - 2023

Write your Comment