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Worksheets+2 Economics quiz part-1
Total questions: 20
Worksheet time: 2hrs 40mins
The branches of the subject Economics
is
a) Wealth and welfare
b) production and consumption
c) Demand and supply
d) micro and macro
Identify the other name for Macro
Economics.
a) Price Theory
b) Income Theory
c) Market Theory
d) Micro Theory
Identify the necessity of Economic
policies.
a) to solve the basic problems
b) to overcome the obstacles
c) to achieve growth
d) all the above
An economy consists of
a) consumption sector
b) Production sector
c) Government sector
d) All the above
Economic system representing equality
in distribution is _________.
a) Capitalism
b) Globalism
c) Mixedism
d) Socialism
The country following Capitalism is
________________ .
a) Russia
b) America
c) India
d) China
The Circular Flow Model that
represents an open Economy.
a) Two Sector Model
b) Three Sector Model
c) Four Sector Model
d) All the above
Karl Marx is the father of ________
a) Capitalism
b) Socialism
c) Mixed Economy
d) Traditional Economy
Mixed Economy is the combination of ___________
a) Demand and Supply
b) Private sector and Public sector
c) Globalisation
d) Income and Expenditure
Identify the economic system where
only public ownership of production
exists.
a) Capitalistic Economy
b) Socialistic Economy
c) Globalisic Economy
d) Mixed Economy
Net National product at factor cost is
also known as
(a) National Income
(b) Domestic Income
(c) Per capita Income
(d) Salary.
Income method is measured by
summing up of all forms of ……………
(a) Revenue
(b) Taxes
(c) expenditure
(d) Income
Tertiary sector is also called as ……….
sector
(a) Service
(b) Income
(c) Industrial
(d) Production
Per capita income is obtained by dividing
the National income by …………
(a) Production
(b) Population of a country
(c) Expenditure
(d) GNP
……… is deducted from gross value
to get the net value.
(a) Income
(b) Depreciation
(c) Expenditure
(d) Value of final goods
The financial year in India is ……
(a) April 1 to March 31
(b) March 1 to April 30
(c) March 1 to March 16
(d) January 1 to December 31
Which is a flow concept ?
(a) Number of shirts
(b) Total wealth
(c) Monthly income
(d) Money supply
The largest proportion of national
income comes from …….
(a) Private sector
(b) Local sector
(c) Public sector
(d) None of the above
NDP stands for
a) Net Domestic Product
b) National Domestic Product
c) New Division of Product
d) National Division of Product
Agriculture comes under
a) Primary Sector
b) Secondary Sector
c) Tertiary Sector
d) Private Sector
