CBSE 12th Economics Board Exam 2021-22 (Term 1): Important MCQ, Sample Paper, Syllabus & Other Resources For Revision & Preparation

CBSE 12th Economics (Term 1) board exam 2021-22 is scheduled for 15th December. Check CBSE Sample Paper, Term 1 CBSE Syllabus, Marking Scheme, Exam Pattern & other important resources for preparation. Links to access these resources are available here. Besides these resources, here we have also provided some important questions from term 1 CBSE Class 12 Economics sample paper 2021-22.

CBSE 12th Economics Board Exam 2021-22 (Term 1): CBSE Class 12 Economics

CBSE 12th Economics Board Exam 2021-22 (Term 1): Important MCQ

Question: The Government can achieve its budget objective of ‘Redistribution of Income’ by____________ (Fill up the blank with correct alternative)

a) managing the General Price Level in the economy to the desired level.

b) increasing the Gross Domestic Products (GDP) of the economy.

c) bringing the production of goods and services under its direct and absolute control.

d) rationalisation of taxes in pro-poor direction.

Question: Balance of Payments of an economy records_____________ for a fiscal year. (Fill up the blank with correct alternative)

a) income and expenditure of the government

b) inflow and outflow of funds of the government

c) inflow and outflow of foreign exchange to/from the economy

d) inflow and outflow of loans to/from the rest of the world

Question: Identify which of the following bank does not interact directly with the general public?

(Choose the correct alternative)

a) Bank of India

b) State Bank of India

c) Central Bank of India

d) Reserve Bank of India

Question: Identify which of the following is not an example of ‘invisible item’ under Current Account of the Balance of Payments transactions: (Choose the correct alternative)

a) Air and sea transport

b) Postal and courier services

c) Education-related travel

d) Merchandise linked transactions

Question: Read the following statements carefully and choose the correct alternative from the following:

Statement 1 – Demonetization was the step taken by the Government of India in order to tackle the problems of corruption, black money, terrorism and circulation of fake currency in the Indian Economy.

Statement 2 – Demonetization has ensured improved tax compliance in India over the period of time.

Alternatives:

a) Both the statements are true.

b) Both the statements are false.

c) Statement 1 is true and Statement 2 is false

d) Statement 2 is true and Statement 1 is false

Question: Ms Sakshi, an economics teacher, was explaining the concept of ‘minimum percentage of the total deposits to be kept by any commercial bank with the Central Bank of the country, as per norms and statute prevailing in the country’.

From the following, choose the correct alternative which specifies towards the concept explained by her?

a) Cash Reserve Ratio

b) Repo Rate

c) Bank Rate

d) Statutory Liquidity Ratio

Question: Two friends Mira and Sindhu were discussing the exchange rate systems. ‘Under this system, the exchange rates are determined by the market forces of demand and supply. However, deliberate efforts are made by the competent authority to keep the exchange rates within a specific range’.

The above-mentioned statement was given by Sindhu, identify the type of exchange rate system was she talking about?

a) Fixed Exchange Rate

b) Floating Exchange Rate

c) Managed Floating Exchange Rate

d) Managed Fixed Exchange Rate

Question: Read the following statements carefully and choose the correct alternative from the following:

Statement 1 – Public goods are those goods and services that are collectively consumed by the public.

Statement 2 – Public goods are excludable and rivalrous in nature.

Alternatives:

a) Both the statements are true.

b) Both the statements are false.

c) Statement 1 is true and Statement 2 is false

d) Statement 2 is true and Statement 1 is false

Question: Under the Balance of Payments structure of a nation, the two main categories of accounts for the classification of the transactions are___ and ___. (Fill up the blank with correct alternative)

i. current account

ii. unilateral transfer account

iii. capital account

iv. loan account

Identify the correct alternatives from the following:

Alternatives:

a) i and ii

b) i and iii

c) iii and iv

d) iv and i

Question: Identify which of the following is not a function of the Reserve Bank of India?

(Choose the correct alternative)

a) To act as the banker to the Government of India.

b) To act as the custodian of the gold reserve of India

c) To act as the financial advisor to the Government of India

d) To issue coins and one rupee note

Question: Industrial Policy Resolution (IPR) 1956 formed the basis of the_________ Five Year Plan. (Fill up the blank with correct alternative)

a) First

b) Fourth

c) Second

a) Third

For answer of these questions and rest of the resources, download the (source) PDF from the link given below

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