MCQ Questions for Class 12 Economics Quiz with Answers Chapter Wise PDF Download

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Class 12 Economics MCQs Multiple Choice Questions with Answers

Here are the chapterwise CBSE MCQ Quiz Test Questions for Class 12th Economics in pdf format that helps you access & download so that you can practice online/offline easily.

Comparative Development Experiences Of India And Its Neighbours Class 12 Commerce Economics MCQ Quiz

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Comparative Development Experiences Of India And Its Neighbours Questions and Answers

Comparative Development Experiences Of India And Its Neighbours Quiz Question Answer
Regional and global economic groupings which India is a part of are _____. SAARC
In the "Theory of Demographic Transition", India can be placed in ____________________. Second Stage: High birth rate and falling death rate
An agreement on Arms Reduction popularly known as 'START' is one of the major issues in the way of smooth relations between which of the following two countries? USA-Russia
Besides USA and France, India has a Civil Nuclear Deal with  Canada
Which one of the following is an obstacle to economic development? All the above
The economic development of India can be adjudged by ________________. The increased capacity to produce goods and services along with improved standard of living.
'BRIC' which was the organisation of 4 nations, namely Brazil, Russia, India and China, has now become 'BRICS'. Which is the fifth nation included in it? South Africa
Which theory suggests that economic growth will percolate down to all sectors? Trickle down theory
Which of the following is/are correct statement(s) pertaining to India's relation with China?
(A) China is the focal point of India's 'Look East Policy'
(B) India is one of the largest investigators of anti-dumping investigations against China.
(C) India is China's most preferred nation for export of minerals and chemicals.		 Only (B)
Which of the following is the largest producer of chemical fertilizers in the world? China

Determination Of Income And Employment Class 12 Commerce Economics MCQ Quiz

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Determination Of Income And Employment Questions and Answers

Determination Of Income And Employment Quiz Question Answer
If the ratio of marginal propensity to consume and marginal propensity to save is 4:1, the value of investment multiplier will be 4. False
Due to government expenditure demand increases. True
Autonomous consumption expenditure cannot be zero. True
Demand curve slopes upwards from left to right. False
Desire means demand. False
Geometric method is also known as Point Method. True
Any point on the demand curve below the equilibrium point shows _____. excess demand
Study of how the consumer decides, given his income and many alternative goods to choose from, what to buy when he knows the prices is called study of __________. consumption

Graphically, when demand curve moves upward, there is __________.

 none of these
The income elasticity demand for farm products is _____________. very low in India

Employment: Growth,Informalisation And Other Issues Class 12 Commerce Economics MCQ Quiz

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Employment: Growth,Informalisation And Other Issues Questions and Answers

Employment: Growth,Informalisation And Other Issues Quiz Question Answer
Which of the following is / are a cause(s) of frictional unemployment?

 Both
Structural unemployment is mainly due to ________.

 structural changes in the economy
NSSO stands for _________. National Sample Survey Organization
In terms of GDP, the share of primary sector in 2003 was about ___ percent. 25
Use the figure given to answer Questions.
Point N shows

954595_bed98728b11b4edaa11c3782ab7b843e.png		 unemployment of resources
This kind of Underemployment is hidden in contrast to someone who does not have a job and is clearly visible as unemployed. It is also called _______ Disguised unemployment
Employment in the service sector increased to the same extent as production.
False
Voluntary unemployment refers to ___________. labour preferring leisure 
In terms of GDP the share of tertiary sector in 2003 is _________.
 between 50 per cent to 60 per cent
Which among the following statements is/are true about MGNREGA 2005?

 All of the above

Environment And Sustainable Development Class 12 Commerce Economics MCQ Quiz

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Environment And Sustainable Development Questions and Answers

Environment And Sustainable Development Quiz Question Answer
Identify from the following a conventional source of energy. Natural Gas
Major constituent of LPG is:
 butane
In gobar gas, the maximum amount is that of:
 methane
L.P.G. is a hydrocarbon consisting of a mixture of:
 propane and butane
A liquid fuel used in homes is:
 Cooking oil
The function of automobile catalytic converter is to control emissions of: carbon monoxide and hydrocarbons
Gobar gas produced from animal and plant waste contains: methane
The poisonous gas formed by the combustion of coal in insufficient oxygen is: carbon monoxide
Which of the following components is present in major proportions in LPG and why? n-butane because it is easily liquefiable.
Which of the following is a combustible substance? cow-dung cake

Government Budget And The Economy Class 12 Commerce Economics MCQ Quiz

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Government Budget And The Economy Questions and Answers

Government Budget And The Economy Quiz Question Answer
_________ expenditure refers to the expenditure incurred by the government on various programmes in the plan. Plan
Taxes levied on personal income, profits of the corporate, wealth and property is termed as ________ tax. direct
Bad Debt Recovered is _________________. Revenue Receipt
Sale of Plant & Machinery is ______________. Capital Receipt
Scrap Value of Machinery is _____________. Capital Receipt

Which of the following is the most comprehensive measure of budgetary imbalances? 

 Fiscal deficit

The fiscal deficit of central government according to 2012-2013 as percent of GDP was _______.

 4.9%

Gross fiscal deficit is calculated by subtracting which of the following from total expenditure ________.

 both A and B

Borrowing from all the sides like net borrowing from RBI and from abroad gives _______.

 budget deficit

What are the features of Fiscal Responsibility and Budget Management Act, (FRBMA) 2003? 

 All the above

Human Capital Formation In India Class 12 Commerce Economics MCQ Quiz

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Human Capital Formation In India Questions and Answers

Human Capital Formation In India Quiz Question Answer
Economic growth is growth in _____. Value added of all sectors
Health care facilities in rural India are adequate. False
Population becomes human capital when there is investment made in the form of education, training and _______. Medical care
Which state in India tops the National Human Development Index? Kerala
The indicators of the economic growth in India are __________. All of these
Economic growth indicates ____________. process to increase the country's national income over a period of time
Investment in human resource means investment in _____ . both (1) and (2)
Human resources are superior to other resources because __________. Human beings are more productive
Investment in human capital is expenditure on _____. all of these
Who gave the following statement?
"Economic Development is the process by which an economy is transformed from one whose rate of growth of per capita income is small or negative, to one in which a significant self-sustained rate of increase of per capita income is a permanent and long term feature".
 Irma Adelman

Indian Economy (1950-1990) Class 12 Commerce Economics MCQ Quiz

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Indian Economy (1950-1990) Questions and Answers

Indian Economy (1950-1990) Quiz Question Answer
Which of the following was not reserved for the government in Industrial Policy Resolution, 1956?
 None of these
Grouping of small land holdings into a bigger one is called ______________.
 Consolidation of land holdings
Under indian Iindustrial development we consider which sector? Both
The 'Mahalanobis Committee' was set up to study _____________. income distribution
The Mahalanobis model was developed for which of the following plans? Second Five Year Plan
Land reforms refer to _______. All of the above
Which one of the following has not been a part of the land reforms programme in India? Agricultural holdings tax
Which one of the following has not been a part of land reforms programme in India ? Imposition of land revenue
Industrial resolution policy (1956) enlarged the scope of ______ participation in India.
 public sector
When was the industrial policy resolution launched in India? 1956

Infrastructure Class 12 Commerce Economics MCQ Quiz

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Infrastructure Questions and Answers

Infrastructure Quiz Question Answer
The most promising non-conventional sources of energy in India is _________________. Solar Energy
Petroleum, Oil and Lubricants(POL) constitutes around __________$$\%$$ of India's imports bill. $$35$$
Which of the following is/are allowed are Central Government Entities? All of the above
Which of the following have the least PLF(Plant Load Factor)? State Electricity Boards
Coal is a ______________. both (a) and (b)
Electricity is a _____________. final energy resource
___________ measures the operational efficiency of a Thermal Plant. Plant Load Factor
Oil and Natural Gas requirements in India are ___________. partly imported and partly obtained from domestic sources
__________ measures the Operational Efficiency of a Thermal Plant. PLF
Which of the following diseases is showing an increasing trend in the recent past? AIDS

Introduction To Macroeconomics Class 12 Commerce Economics MCQ Quiz

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Introduction To Macroeconomics Questions and Answers

Introduction To Macroeconomics Quiz Question Answer
The study of entire system of economics is ____________. macroeconomics
Microeconomics deals with the study of aggregates.
 False
National output is an example of a macroeconomic variable.
 True
Scarcity of resources arises only in poor countries.
 False
Macroeconomics is useful to solve individual problems. 
 False
As a general principle of economics it is said that growth is a function of investment. But to sustain growth it is not enough that a country has a high investment rate only. It is also needed that investment has to be ____________. rising year after year and that too for many years.
When did the great depression emerge? 1929
Name the Economist whose book "The General theory of Employment", led to the creation of Macroeconomics.  John Maynard Keynes
What does the term 'Overgeared Company' mean? Company deeply in debt
Match the items given in List-I and List-II:
List-IList-II
(a) Economic liberalisation(i) IT-enabled services
(b) Out sourcing(ii) SFIO
(c) Corporate frauds(iii) Macro economic stability
(d) Second generation reforms(iv) Increased competition
Indicate the correct combination.		 $$(a) - (iv), (b) - (i), (c) - (ii), (d) - (iii)$$

Liberalization,Privatisation And Globalisation: An Appraisal Class 12 Commerce Economics MCQ Quiz

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Liberalization,Privatisation And Globalisation: An Appraisal Questions and Answers

Liberalization,Privatisation And Globalisation: An Appraisal Quiz Question Answer
Who is the watch dog of international trade? WTO
Removing barriers or restrictions set by the government is known as. Liberalisation
Which disadvantage is there due to economic liberalization? There is rise in economic inequality.
Which of the following establishes the fact that India has adopted the policy of liberalisation? Restriction on import of most of the goods is removed.
Liberalisation refers to. Removing trade barriers
In the post-liberalisation period, the share of direct taxes in gross tax revenue in India has __________. increased
NEP consisted of ___________.
 all of the above
Which of the following are false for the policy of green revolution in India?
 All of the above
Freeing the economy from all unnecessary controls and regulations is referred to as ________. liberalisation
Which of the following would result in a fall in asset prices? Low liquidity in the economy

Money And Banking Class 12 Commerce Economics MCQ Quiz

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Money And Banking Questions and Answers

Money And Banking Quiz Question Answer
The Central Bank of the country also acts as a banker to the government which normally involves _______. all of above
When more than one bank is allowing credit facilities to one party in coordination with each other under a formal arrangement, the arrangement is generally known as _________. consortium
Capital market means _____________. Securities Market
________imply deliberate direct sales and purchases of securities and bills in the market by the Central Bank on its own initiative to control the volume of credit.  Open market operations
Which one of the following is not instrument of selective credit control in India ________. variable cash reserve ratios
Which of the following are included in the functions of the Central bank?
(i) Narrowing the export- import gap
(ii) Issuing of notes
(iii) Acting as the Government's bank
(iv) Acting as the commercial bank's banker		 (ii), (iii), (iv)
The principal function of a Central bank is __________. the carrying out of the country's monetary policy
The Statutory Liquidity Ratio(SLR) is _________. amount of cash, gold unencumbered, approved securities with a bank and its deposits with the other banks minus deposits of the other banks with this bank
In June 2003, i.e. post-reform period, CRR was 15%, which gradually dropped from this peak to _________ by Sep, 2012. 4.5%
A vital function of money is its ability to provide a standard for __________. deferred payments

National Income Accounting Class 12 Commerce Economics MCQ Quiz

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National Income Accounting Questions and Answers

National Income Accounting Quiz Question Answer
The three methods of computing national income are ___________. production, outlay and income methods
Economic order quantity is that quantity at which cost of holding and carrying inventory is ________________.
 Minimum and equal
Which of the following is not a component of domestic income? Net factor income from abroad

The method used to calculate the income by adding all the expenditures on the purchase of final goods and services produced during an accounting year is __________.

 Expenditure Method
National Income of a country can be calculated by ________. three methods
If four groups of people in a country have individual incomes  of Rs 4000, Rs 5000, Rs 6000 and RsWhat would be the average national income? Rs 5500
Total revenue $$\div$$ Number of units sold $$=$$ ____________. Average revenue

If the national income is measured as an aggregate value of all final goods and services produced by all the firms it is called _______.

 Product Method

Income disposal method is also called as _________.

 expenditure method

Suppose that a firm had an unsold stock worth of Rs 100 at the beginning of a year. During the year it had produced Rs 1,000 worth of goods and managed to sell Rs 800 worth of goods. Calculate inventory for the year ___________.

 300

Open Economy Macroeconomics Class 12 Commerce Economics MCQ Quiz

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Open Economy Macroeconomics Questions and Answers

Open Economy Macroeconomics Quiz Question Answer
BOP is in surplus, then _____________. it adds to external reserves of the country
Deficit in balance of trade indicates deficit in balance of payments also. False
'Invisible' exports include __________________. foreign tourists in the country
Devaluation works best when __________________. foreign demand for the devaluing country's exports is elastic
To keep the balance of payments deficit from becoming excessive, an under-developed country should ____________. Increase the quantum of exports
The most important of the non-tariff trade barriers are __________. quotas
According to the IMF, SDR stands for _________________. Special Drawing Rights
The balance of trade is also known as _____________. the visible balance
Trade Balance of a country is equal to ____________________. balance of export and import of goods
A change from USD 3 = GBP 1 to USD 2 = GBP 1 represents ___________. an appreciation of the dollar

Poverty Class 12 Commerce Economics MCQ Quiz

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Poverty Questions and Answers

Poverty Quiz Question Answer
In a SHG, important decisions in regard to loan and savings are taken by _____. Group Members
Mahatma Gandhi National Rural Employment Guarantee Act, 2005 aims to provide 100 days of wage employment to every household to ensure livelihood security in __________.  Rural areas
Poverty means All of these
What is the minimum availability of earnigs in developing countries to determine the poverty line? $1.90
In this way in the year 2011-12, a family in the urban areas would need a minimum of Rs _________ per month to meet their basic requirements. 5,000
The poverty line is estimated periodically (normally every five years) by conducting sample surveys. These surveys are carried out by National Sample Survey Organisation
Which of the following country has the largest single concentration of the poor in the world. India
Every __________ person in India is poor. Fifth
Which of the following is/are the indicators of poverty.  All of these
In this way in the year 2011-12, a family of five members living in rural areas and earning less than about Rs _____ per month will be below the poverty line. 4,080

Rural Development Class 12 Commerce Economics MCQ Quiz

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Rural Development Questions and Answers

Rural Development Quiz Question Answer
In India, the main limiting factor for cultivation is_________. Small size of farms
Science of cultivation, breeding, marketing and arrangement of flowers is called. Floriculture
Which of the following factors is not responsible for the shift in sugarcane cultivation to South India? Cheap labour
Consider the following statements
In India, groundnut crop is raised mostly during the Kharif season under rainfed conditions.
In India, tobacco is cultivated only in black cotton soils.
Which of the statements given above is/are correct?		 Only 1
The farmers of Palampur are able to grow three different crops in a year because they _______________. Practice multiple cropping system
_________ provide labour for farming. Small farmers
Which one of the following is the leading producer of marine fish? West Bengal
Which of the following countries has the largest number of cattle in the world? India
Which of the following is a non farm activity? Dairy farming
Which of the following is a non-farming activity? Dairy farming

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