MP Board question bank 2022 class 12 Economics. Vimarsh portal.

MP board question bank 2022 class 12 Economics|Solution

MP board question bank 2022 class 12 Economics with Solution.

Q 1.Choose the correct option

1. Meaning of Microeconomics
(e) Study of individual economics Units
(b) Study of the whole economy
(c) Study of total national income
(d) None of these
Answer: (e) Study of individual economics Units

 
2. Identify the central problem that relates to the quantity of goods to be produced is related to -
(a) What is to be produced?
(b) How to produce?
(c) For whom to produce?
(d) none of these
Answer: (a) What is to be produced?

3. Macro economics is concerned with-
(a) individual quantities
(b) From personal production
(c) Aggregate quantities
(d) all of therm
Answer: (c) Aggregate quantities

4. In which the following economies, importance is given to social interest and welfare?
(a) in a capitalist economy 
(b) Socialist economy
(c) in a mixed economy
(d) in an underdeveloped economy
Answer: (b) Socialist economy

5. Which of the following problems has been considered by Samuelson as the fundamental problem of the economy?
(a) Which goods should be produced in what quantity
(b) How to produce goods?
(c) For Whom should the goods be produced?
(d) All of the above
Answer: (d) All of the above

6. The sectors are  in the economy-
(a) two  (b) three  (c) Four  (d) none of these

Answer: (b) three

7. Which of the following is not a department of economics?
(a) Consumption
(b) Exchange
(c) Delivery
(d) Budget
Answer: (d) Budget

8. Microeconomics studies -
(a) of national production
(b) Specific firms
(c) Levels of prices
(d)all of the above
Answer: (b) Specific firms

9. Microeconomics does not pay attention to which of the following-
(a) Problem of unemployment
(b) inflation in the economy
(c) aggregate demand
(d) jute industry
Answer: (d) jute industry

10. Which of the following is an example of positive economics-
(a) Steps taken by India to control price rise (b) Abnormal distribution of income in an economy
(c) India should not be a populous country Income
(d) Reduction in unequal distribution.
Answer: (a) Steps taken by India to control price rise

11. "Economics is the study of mankind in the ordinary business of life this definition is given by -
(a) Adam Smith
(b) robbins
(c)-Marshall
(d) Pigoo
Answer: (c)-Marshall

12. Who first used the word "Micro"?
(a) Marshal
(b)Bolding
(c) Keynes
(d) Regner Frisch
Answer: (d) Ragner Frisch

 
13. The fault of microeconomics is
(a) No knowledge of the whole economy
(b) not applicable to the group
(c) Unrealistic beliefs
(d) All the Above
Answer: (d) All the Above

14. Which of the following is not an economic activity?
(a) Teaching by teacher
(b) the treatment of the patient by the
(c) black marketing
(d) Agricultural work by farmer
Answer: (c) black marketing

15. What is the nature of economics?
(a) Science
(b) art
(c)both science and art
(d) none of these
Answer: (c)both science and art

16.When a person buys goods to satisfy  his needs, he is called-
(a) consumer
(b) producer
(c)service holder
(d) Service Provider
Answer: (a) consumer

2.Very short answer type questions
(each question is of 2 marks, word limit is about 30 words)

1. What is meant by microeconomics?
2. The main instrument of microeconomics is the price instrument. explain.
3. What is meant by economy?
4. What is meant by capitalist economy?
5. What is meant by the central problem of the economy?
6. What is meant by socialist economy?

3. Short Answer Type Questions (Each question carries 3 marks, word limit 75
1. Write the features of socialist economy.
2. Write the limitations of microeconomics.
3, Differentiate between a centrally planned economy and a market economy.
4. Write any three features of capitalist economy.
5. State three main features of a mixed economy.
6. Write any three reasons for the occurrence of economic problems.
7. What are the central problems of an economy?
8.Explain the difference between microeconomics and macroeconomics