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CBSE Questions for Class 12 Commerce Economics Employment: Growth,Informalisation And Other Issues Quiz 8 - MCQExams.com
CBSE
Class 12 Commerce Economics
Employment: Growth,Informalisation And Other Issues
Quiz 8
In the case of ________ countries, the share of service sector to GDP is about 60% or more.
Report Question
0%
underdeveloped
0%
developing
0%
developed
0%
all of the above
Explanation
The share of service sector to GDP in developed countries is about 60% or more. Service sector is also known as the tertiary sector of the economy. For example, accounting, tourism, etc are included in the service sector.
Which of the following statements is correct with regards to India?
Report Question
0%
Tertiary sector contributes the maximum to GDP.
0%
India is basically a socialist economy.
0%
In India, distribution of income and wealth is quite equitable.
0%
None of the above.
Explanation
Sector which includes trade, transport, banking, communication and services is known as tertiary sector. Tertiary sector mainly deals with services. Hence, tertiary sector is also known as service sector of the economy. Service sector is the largest contributor to GDP in India.
At the time of independence nearly 76% of the population was dependent on agriculture sector, by 2009-10 this shifted to approximately
________.
Report Question
0%
50%
0%
70%
0%
80%
0%
None of the above
Explanation
At the time of independence nearly 76% of the population was dependent on agriculture sector, by 2009-10 this shifted to approximately 50%. As the economy grows, the workforce starts shifting from the primary sector to secondary and tertiary sectors of the economy. Hence, the percentage of the population in the primary sector decreased in recent times.
Which of the following is true with regards to GDP in India?
Report Question
0%
Primary sector's contribution to GDP has consistently increased.
0%
Secondary sector contributes maximum to GDP.
0%
Both (a) & (b).
0%
Service sector contributed maximum to GDP.
Explanation
Sector which includes trade, transport, banking, communication and services is known as tertiary sector. Tertiary sector mainly deals with services. Hence, tertiary sector is also known as service sector of the economy. Service sector is the largest contributor to GDP in India.
The share of service sector to GDP in India is showing a/an _________ trend.
Report Question
0%
increasing
0%
decreasing
0%
constant
0%
none of the above
Explanation
The share of service sector to GDP in India is showing an increasing trend. Service sector is also known as the tertiary sector of the economy. For example, accounting, tourism, etc are included in the service sector.
Percentage of people in non-working age group is known as ________.
Report Question
0%
working - non working ratio
0%
dependency rate
0%
non-dependency rate
0%
none of the above.
Agriculture sector contributes around 55% of GDP in 1950-51, which has come down to _________ % in 2011-12.
Report Question
0%
20
0%
14
0%
25
0%
28
Explanation
Agriculture sector contributes around 55% of GDP in 1950-51, which has come down to 14% in 2011-12. Agriculture is included inn the primary sector of the economy. This sector employs bout 50% of the population of India.
Share of agriculture and their allied products in total export is about ___________ as per 2011-12.
Report Question
0%
60%
0%
65%
0%
10%
0%
75%
Explanation
Agriculture is included inn the primary sector of the economy. This sector employs about 50% of the population of India. Share of agriculture and their allied products in total export is about 10% as per 2011-12.
Situation, where some people are unwilling to work at the prevailing wage rate, is called _____________.
Report Question
0%
Voluntary unemployment
0%
Technological unemployment
0%
Frictional unemployment
0%
Disguised employment
Which of the following is the example of economic activity?
Report Question
0%
Production
0%
Consumption
0%
Charity
0%
A and B both
Explanation
The definition of an economic activity is given as "any activity where goods and services are exchanged for money." The economic activity of production involves producing goods and services so that they can be sold in the market for fair price. The economic activity of consumption involves consumers lending their services in exchange for wages that they then use to purchase goods and services.
Service Sector accounted for nearly _______ of Exports (2011-12).
Report Question
0%
two third
0%
one fourth
0%
one third
0%
two fourth
Explanation
Sector which includes trade, transport, banking, communication and services is known as tertiary sector. Tertiary sector mainly deals with services. Hence, tertiary sector is also known as service sector of the economy. Service sector is the largest contributor to GDP in India and accounts for nearly one third of exports accoding to the data of 2011-12.
Which of the following is a contribution of service sector to the Indian economy?
Report Question
0%
Share in GDP
0%
Share in exports
0%
Employment opportunities
0%
All of the above
Explanation
Service sector is also known as the tertiary sector of the economy. For example, accounting, tourism, etc are included in the service sector. Contribution of service sector to the Indian economy are as follows:
a) Share in GDP
b) Share in exports
c) Employment opportunities
Cause of unemployment is due to ________________.
Report Question
0%
lack of financial resources
0%
slow growth problem
0%
faulty employment planning
0%
all of the above
Which one of the following is not the primary cause of India's chronic balance of payment problem?
Report Question
0%
Value of imports not matched by value of exports
0%
Deficits in merchandise trade
0%
Membership of W.T.O.
0%
Petroleum, Oil and Lubricants (POL) imports
Explanation
Membership of W.T.O
is not the primary cause of India's chronic balance of payment problem.
Which of the following is considered production in economics?
Report Question
0%
Saving a child from drowning in a river.
0%
Doctor examining a patient for a fee.
0%
Boating in a lake for recreation.
0%
Painting a picture for pleasure.
Explanation
Doctor examining a patient for a fee is considered production in economics; other are recreation/leisure activities and would not result in production.
Which one of the following is correct? Over the years the _________.
Report Question
0%
agricultural production has been falling
0%
the industrial production has been falling
0%
the share of service sector and manufacturing sector in India's GDP has been stagnant
0%
the share of the agricultural sector in India's GDP has been falling.
Explanation
In India, percentage of population employed in Agriculture has decreased from period of independence to the current date since with the rise in demand for goods and services produced by secondary and tertiary sector, workforce of primary sector starts decreasing and as a result, the GDP from agricultural sector also gets reduced from the period of Independence to the current date.
The primary aim of 'Mahatma Gandhi National Rural Employment Guarantee Programme' does not include which of the following?
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0%
Lift the household above the poverty line.
0%
Provide self employment opportunities to households living below the line of poverty.
0%
Create and set up "rural productive assets.'
0%
Transform rural area into urban areas.
When the aggregate spending is not sufficient to produce that level of output which requires full employment of the available resources, it results in ______________.
Report Question
0%
inflation
0%
unemployment
0%
social problems
0%
none of the above
Explanation
When the aggregate spending is not sufficient to produce an adequate level of output which requires full employment of available resources then it means aggregate demand
is less than aggregate supply, then the planned inventory rises above the desired level. To clear the unwanted increase in inventory, firms plan to reduce the output which reduces the employment in the economy.
Key principle functions that trade unions perform include:
Report Question
0%
Regulation of relations
0%
Settlement of grievances
0%
Raising new demands on behalf of workers
0%
All of the above
Explanation
Trade unions are organizations formed by workers from related fields that work for the common interest of its members. Trade union is established for the specific purpose of advancing and protecting the interests of its members or workers in their working relationship.
Key principle functions that trade unions perform include:
a) Regulation of relations
b) Settlement of grievances
c) Raising new demands on behalf of workers
India's social security schemes cover the following types of social insurances as ______.
Report Question
0%
Pension
0%
Health Insurance and Medical Benefit
0%
Gratuity
0%
All of the above
Explanation
India's social security schemes cover the following types of social insurances as:
a) Pension
b) Health Insurance and Medical Benefit
c) Gratuity
Social security refers to protection provided by the society to its members against providential mishaps over which a person has no control. Social security schemes are only available to the the employees of the organized sector of India.
The largest proportion of work force in India is engaged in the _____________.
Report Question
0%
external sector
0%
primary sector
0%
secondary sector
0%
tertiary sector
Explanation
The largest proportion of work force in India is engaged in the primary sector. This sector employs 50-60% of the population.
Primary sector consists of agriculture. It is also known as raw material sector. Agriculture, crop production, animal husbandry, fisheries and mining- all are included in primary sector.
A person who has attained the age of 10 years can be a member of a registered trade union subject to any rules of the trade union.
Report Question
0%
True
0%
False
Explanation
A person who has attained the age of 10 years can be a member of a registered trade union subject to any rules of the trade union- this is a false statement. The minimum age required to be a member of trade union is 15 years. However for being a office bearer a person needs to be above 18 years of age.
Frictional unemployment is consistent with full employment.
Report Question
0%
True
0%
False
Explanation
Frictional unemployment is an unemployment situation where people are not unemployed owing to not getting any job but they are unemployed because they are searching for a new job or they are getting transferred from one employment to the other. Frictional unemployment remains consistent with full employment if it is at a rate of 3-4% of the full employment.
On which of the following grounds, an office bearer or executive of the trade union be disqualified?
A. Has been convicted by the court of any offence involving moral turpitude
B. Has not attained the age of 18 years
C. Is not working with any establishment
Report Question
0%
A, B and C
0%
A & C
0%
B & C
0%
A & B
Explanation
On the following grounds, an office bearer or executive of the trade union be disqualified:
A. Has been convicted by the court of any offence involving moral turpitude
B. Has not attained the age of 18 years
A person has to be 18 years of age for being a office bearer and he/she must not be convicted by the court of any offence.
Frictional unemployment rate of ________ is consistent with full employment level, as per the experience of developed countries.
Report Question
0%
3 to 4%
0%
5 to 8%
0%
upto 2%
0%
10 to 15%
Explanation
Frictional unemployment is an unemployment situation where people are not unemployed owing to not getting any job but they are unemployed because they are searching for a new job or they are getting transferred from one employment to the other. Frictional unemployment remains consistent with full employment if it is at a rate of 3-4% of the full employment.
Hence, option A is correct.
The equilibrium below full employment level is termed as _____________.
Report Question
0%
underemployment equilibrium
0%
over employment equilibrium
0%
aggregate disequilibrium
0%
none of the above
Explanation
When the aggregate spending is not sufficient to produce an adequate level of output which requires full employment of available resources then it means aggregate demand
is less than aggregate supply, then the planned inventory rises above the desired level. To clear the unwanted increase in inventory, firms plan to reduce the output which reduces the employment in the economy and results in AD=AS. This equilibrium point is below the full employment level of equilibrium which is called underemployment equilibrium.
Under which of the following situations may a union refuse to admit a person or expel a member?
Report Question
0%
Because of their current state of health.
0%
Because of misconduct.
0%
Because they do not feel that they are a suitable member.
0%
Because of their financial means.
Explanation
Because of misconduct a union refuse to admit a person or expel a member. A union has the right to refuse to admit or expel a member if that person does not maintain a proper conduct.
Excessive aggregate spending leads to full employment level of output accompanied with ____________.
Report Question
0%
lower income level
0%
poverty
0%
inflation
0%
none of the above
Explanation
When the aggregate spending is excessive then it leads to output which has full employment of available resources then it means aggregate demand
is more than aggregate supply,
then the planned inventory would fall below the desired level. To bring back the Inventory at the desired level, the producers expand the output but due to full employment of the available resources the output remains the same which leads to inflation in the economy
.
_____________ may be defined as the situation when all those persons who are willing to work at the prevailing wage rate are getting work and are employed.
Report Question
0%
Disguised employment
0%
Full employment
0%
Voluntary employment
0%
Involuntary employment
Explanation
Full employment refers to the situation when all the people who are willing to work in the economy at a prevailing wage rate are getting work and are employed to produce the desired level of output in the economy.
What is meant by the term collective bargaining?
Report Question
0%
A process by which a union negotiates with suppliers for the provision of e.g. office furniture.
0%
A process by which a union negotiates with an employer on behalf of its members on matters concerning the terms and conditions of employment.
0%
A process by which a union recruits new members.
0%
A process by which a union meets with another union to discuss recruitment.
Explanation
A process by which a union negotiates with an employer on behalf of its members on matters concerning the terms and conditions of employment. is termed as collective bargaining. Collective bargaining can be defined as the technique by which dispute as to conditions of employment is resolved by agreement rather than coercion.
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