12th HSC Board Economics:
Complete the Following Statements
1. | Choose the Correct Option | 5 Marks | |
2 | Complete the Correction | 5 Marks | |
3 | Give Economic Term | 5 Marks | |
4 | Find the Odd Word | 5 Marks | |
5 | Complete the following Statements | 5 Marks | |
6 | Assertion and Reasoning Questions | 5 Marks | |
7 | Identify and Explain the Concepts | 6 Marks | |
8 | Distinguish Between | 6 Marks | |
9 | Answer in Brief | 12 Marks | |
10 | State with Reasons, Do you Agree/ Disagree | 12 Marks | |
11 | Table, Diagram, Passage Based Questions | 8 Marks | |
12 | Answer in Detail | 16 Marks |
Chapter 1: Introduction to Microeconomics and Macroeconomics
(1) Whole economy is studied in ________. (March 22)
(a) microeconomics
(b) macroeconomics
(c) econometrics
(d) natural sciences
(2) Microeconomics is also called as ________. (March 23)
(a) Income theory
(b) Price theory
(c) Growth theory
(d) Employment theory
Chapter 2: Utility Analysis
(1) When Marginal Utility (MU) is negative, Total Utility (TU) is (Sept. '21; March '23)
(a) rising
(b) not changing
(c) falling
(d) zero
(2) In the law of diminishing marginal utility, Alfred Marshall assumes that marginal utility of money ________.
(a) Increases
(b) remains constant
(c) decreases
(d) rises and then falls
(3) As per the law of diminishing marginal utility, measurement of utility is assumed to be ________.
(a) ordinal
(b) cardinal
(c) both ordinal and cardinal
(d) none of the above
(4) Point of Satiety means ________.
(a) TU is rising and MU is falling
(b) TU is falling and MU is negative
(c) TU is maximum and MU is zero
(d) MU is falling and TU is rising
(5) When MU is falling (below zero), TU is ________.
(a) rising
(b) falling
(c) not changing falling
(d) maximum
Chapter 3 (A): Demand Analysis
(1) When less units are demanded at high price it shows ________. (Sept. '21)
(a) increase in demand
(b) expansion of demand
(c) decrease in demand
(d) contraction in demand
(2) The relationship between demand for a good and its price is ________. (July '22)
(a) direct
(b) inverse
(c) no effect
(d) can be direct and inverse
(3) The relationship between income and demand for inferior goods is ________. (March '23)
(a) direct
(b) inverse
(c) no effect
(d) can be direct and inverse
(4) The relationship between demand for a good and price of its substitute is ________.
(a) direct
(b) inverse
(c) no effect
(d) can be direct and inverse
(5) Symbolically, the functional relationship between demand and price can be expressed on ________.
(a) Dx = f (P)
(b) Dx = f (P)
(c) Dx=f(y)
(d) Dx = f(T)
(6) Demand for pen and Ink is ________.
(a) competitive
(b) indirect
(c) complementary
(d) composite
Chapter 3 (B): Elasticity of Demand
(1) When percentage change in quantity demanded is less than the percentage change in price, the demand curve is ________. (March 22)
(a) flatter
(b) steeper
(c) rectangular
(d) horizontal
(2) Demand curve is parallel to X-axis, in case of ________. (July '22)
(a) perfectly elastic demand
(b) perfectly inelastic demand
(c) relatively elastic demand
(d) relatively inelastic demand
(3) Price elasticity of demand on a linear demand curve at the X-axis is ________.
(a) zero
(b) one
(c) infinity
(d) less than one
(4) Price elasticity of demand on a linear demand curve at the Y-axis is equal to ________.
(a) zero
(b) one
(c) infinity
(d) greater than one
(5) Ed = 0 in case of ________.
(a) luxuries
(b) normal goods
(c) necessities
(d) comforts
Chapter 4: Supply Analysis
(1) Revenue per unit of output sold is ________. (Sept. '21)
(a) total revenue
(b) marginal revenue
(c) average revenue
(d) marginal expenditure
(2) A rightward shift in supply curve shows ________. (July 22)
(a) contraction of supply
(b) decrease in supply
(c) expansion of supply
(d)-increase in supply
(3) Total Revenue Number of Units sold = ________.
(a) Average Cost
(b) Average Revenue
(c) Marginal Cost
(d) Total Cost
(4) ________ is the most important determinant of supply.
(a) Price
(b) Cost of production
(c) Technology
(d) Government policy
(5) The Law of Supply represents the general tendency of ________.
(a) buyers
(b) sellers
(c) government
(d) labourers
(6) The most significant factor affecting the supply of agricultural goods is ________
(a) government policies
(b) cost of production
(c) climatic conditions
(d) transport facilities
(7) The supply curve ________.
(a) slopes upwards from the left to the right
(b) slopes downwards from the left to the right
(c) slopes parallel to X-axis
(d) slopes backwards
Chapter 5: Forms of Market
(1) The cost incurred by the firm to promote sales _______. (March '22)
(a) total cost
(b) average cost
(c) marginal cost
(d) selling cost
(2) Plenty of natural resources results in ________ monopoly.
(a) public
(b) natural
(c) voluntary
(d) discriminating
Chapter 8 : Public Finance in India
(1) Budget that consists of revenue receipts and revenue expenditure ________. (March (23)
(a) capital budget
(b) government budget
(c) Revenue budget
(d) family budget
(2) Public expenditure of any government shows _______. (March 23)
(a) constant trend
(b) increasing trend
(c) decreasing trend
(d) fluctuating demand
Chapter 9: Money Market and Capital Market in India
(1) Organised sector of money market in India includes ________. (Sept. 21)
(a) indigenous bankers
(b) money lenders
(c)-commercial banks
(d) unregulated non-banking financial intermediaries
(2) Stock exchange is an important constituent of the ________. (July '22)
(a) Capital market
(b) money market
(c) local market
(b) International market
(3) Money market faces the shortage of funds due to _______ (March '22)
(a) inadequate savings
(b) growing demand for cash
(c) presence of unorganized sector
(d) financial mismanagement
(4) Commercial banks act as intermediaries in the financial system to ________
(a) make profits
(b) accelerate the country's economic growth
(c) mobilize the savings and allocating them to various sectors of the economy
(d) control the credit
Chapter 10: Foreign Trade of India
(1) Purchase of goods and services by one country from another country is ________. (Sept. 21)
(a) export trade
(b) Import trade
(c) entrepot trade
(d) internal trade
(2) Purchase of goods and services from one country and selling them to another country is _______. (March 22)
(a) entrepot trade
(b) import trade
(c) export trade
(d) national trade
(3) Trade of goods and services within the geographical boundaries of a nation _______. (July 22)
(a) International trade
(b) Internal trade
(c) currency trade
(d) Inter-continental trade
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