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Introduction Economics - Introduction

CBSE - STD 12 Commerce - Economics (CBSE - English Medium). 255 questions in this chapter.

Question types

Introduction question types

255 questions across 7 question groups — pick any mix to generate a Economics paper with step-by-step answer keys.

255
Questions
7
Question groups
5
Question types
Sample Questions

Introduction questions

One sample from each question group in this chapter. Select any group above to see the full set with answer keys.

Q 2M.C.Q (1 Marks)1 Mark
Which of the following is not an example of depreciation?
  • A
    A plant producing rubber shoes becomes obsolete when demand shift from rubber shoes to leather shoes.
  • B
    A plant producing black and white televisions becomes obsolete when technology is discovered to produce colour televeisions.
  • ✓
    Fall in the market value of the assets during the period of economic recession.
  • D
    Fall in the value of your school building.

Answer: C.

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Q 3M.C.Q (1 Marks)1 Mark
_______ refers to the flow of money across different sectors of the economy.
  • A
    Real flow.
  • B
    Circular flow.
  • ✓
    Money flow.
  • D
    Both (a) and (c).

Answer: C.

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Q 4M.C.Q (1 Marks)1 Mark
The goods which are ready to be used by the producers, are called ______.
  • A
    Final goods.
  • B
    Consumer goods.
  • C
    Producer goods.
  • ✓
    Both (a) and (c).

Answer: D.

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Q 6Assertion (A) & Reason (B) MCQ1 Mark
Assertion (A): Depreciation is also termed as consumption of fixed capital
Reason (R): Depreciation refers to that value of fixed capital that is used up in the process of production.
Alternatives:
a) Both Assertion and Reason are true and Reason (R) is the correct explanation of Assertion (A)
b) Both Assertion and Reason are true and Reason (R) is not the correct explanation of Assertion (A)
c) Assertion (A) is True but Reason (R) is False
d) Assertion (A) is False but Reason (R) is True
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Q 7Assertion (A) & Reason (B) MCQ1 Mark
Assertion (A): Subsidy is a transfer payment.
Reason (R): Subsidy contributes to current flow of goods and services.
Alternatives:
a) Both Assertion and Reason are true and Reason (R) is the correct explanation of Assertion (A)
b) Both Assertion and Reason are true and Reason (R) is not the correct explanation of Assertion (A)
c) Assertion (A) is True but Reason (R) is False
d) Assertion (A) is False but Reason (R) is True
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Q 8Assertion (A) & Reason (B) MCQ1 Mark
Assertion (A): Transfer Income is not included in the National Income.
Reason (R): Transfer Income is a unilateral (one-sided) concept.
Alternatives:
a) Both Assertion and Reason are true and Reason (R) is the correct explanation of Assertion (A)
b) Both Assertion and Reason are true and Reason (R) is not the correct explanation of Assertion (A)
c) Assertion (A) is True but Reason (R) is False
d) Assertion (A) is False but Reason (R) is True
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Q 9Assertion (A) & Reason (B) MCQ1 Mark
Assertion (A): Intermediate goods have direct demand.
Reason (R): The demand for intermediate goods depends on the demand for final goods.
Alternatives:
a) Both Assertion and Reason are true and Reason (R) is the correct explanation of Assertion (A)
b) Both Assertion and Reason are true and Reason (R) is not the correct explanation of Assertion (A)
c) Assertion (A) is True but Reason (R) is False
d) Assertion (A) is False but Reason (R) is True
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Q 10Assertion (A) & Reason (B) MCQ1 Mark
Assertion (A): Factor income is a Bilateral Income.
Reason (R): Factor income is earned for contributing to the production process.
Alternatives:
a) Both Assertion and Reason are true and Reason (R) is the correct explanation of Assertion (A)
b) Both Assertion and Reason are true and Reason (R) is not the correct explanation of Assertion (A)
c) Assertion (A) is True but Reason (R) is False
d) Assertion (A) is False but Reason (R) is True
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Q 13True/False1 Mark
Giving reason, state whether the following statements are true or false.
Can purchase of a new car be categorized as an intermediate good.
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Q 284 Marks Question4 Marks
Which of the following subjects fall under microeconomics and which ones are macroeconomics?
  1. Price determination of a commodity.
  2. Determination of general price level.
  3. Demand of a consumer for clothing.
  4. The problem of unemployment in the economy.
  5. Rate of economic growth of a country.
  6. Determination of the equilibrium level of national income.
  7. Deficit in the balance of payments of a country.
  8. Allocation of resources among different resources.
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