Bihar Board 12th Economics VVI Objective Questions Model Set 6 in English

Bihar Board 12th Economics Objective Questions and Answers

Bihar Board 12th Economics VVI Objective Questions Model Set 6 in English

Question 1.
When the proportionate change in the supply of goods is more than the proportionate change in the price the elasticity of supply will be:
(a) Less than
(b) Equal to unit
(c) Greater than unit
(d) Infinite
Answer:
(c) Greater than unit

Question 2.
The optional value of opportunity cost:
(a) Economic cost
(b) Equilibrium price
(c) Limited cost
(d) Average cost
Answer:
(a) Economic cost

Question 3.
In which stages of production a rational producer likes to operate in short run production:
(a) First stage
(b) Second stage
(c) Third stage
(d) None of these
Answer:
(b) Second stage

Question 4.
Long-run production function is related to:
(a) Law of demand
(b) Law of increasing returns
(c) Law of returns to scale
(d) Law of increasing returns
Answer:
(c) Law of returns to scale

Question 5.
A market in which there is free entry and exist, the market is
(a) Monopolistic competitive market
(b) Imperfect competitive maiket
(c) Perfectly competitive market
(d) None of these
Answer:
(c) Perfectly competitive market

Question 6.
Market price is found in:
(a) Short period market
(b) Long period market
(c) very short period market
(d) None of these
Answer:
(d) None of these

Question 7.
The price elasticity of demand for GifTin goods is:
(a) Negative
(b) Positive
(c) Zero
(d) None of these
Answer:
(a) Negative

Question 8.
Price elasticity of supply detine the reasono of chayes in percentage of supply:
(a) price 10%
(b) price 100% chaye
(c) price 50% chaye
(d) price 1 % chaye
Answer:
(d) price 1 % chaye

Question 9.
In the price of goods rises by 60% but supply increases by only 5% the supply of goods will be :
(a) Highly elastic
(b) Elastic
(c) Inelastic
(d) Perfectly inelastic
Answer:
(c) Inelastic

Question 10.
The market price of all final goods and services produced in the domestic territory of a country in a year is known as :
(a) GDP_MP
(b) GDP_FC
(C) NNP_FC
(d) none of these
Answer:
(a) GDP_MP

Question 11.
Keyne’s derived investment multiplier from
(a) Income multiplier
(b) Consumption multiplier
(c) Employment multiplier
(d) None of these
Answer:
(c) Employment multiplier

Question 12.
The subject of the study of Micro ecnomics is:
(a) The principle of national income
(b) The pri nciple of consumer
(c) The principle of producer
(d) None of these
Answer:
(a) The principle of national income

Question 13.
In which following is real investment ?
(a) Purchase of shares
(b)Purchasexrfoldfactory
(c) Construction of a building
(d) Open a credit a/c in bank
Answer:
(a) Purchase of shares

Question 14.
The component of balance payment is :
(a) current a/c
(b) capital a/c
(c) both (a) &(b)
(d) None
Answer:
(c) both (a) &(b)

Question 15.
Direct-tax is:
(a) Income tax
(b) Gift-tax
(c) Both
(d) None of these
Answer:
(a) Income tax

Question 16.
In India one rupee note is issued by
(a) Reserve Bank of India
(b) Finance Minister of Government of India
(c) State Bank of India
(d) None of tehse
Answer:
(b) Finance Minister of Government of India

Question 17.
Capital budget consist of:
(a) Revenue receipts and revenue expenditure
(b) Capital receipts and capital expenditure
(c) Direct and indirect tax
(d) None of these
Answer:
(b) Capital receipts and capital expenditure

Question 18.
Economy problem is mainly problem of:
(a) Selection
(b) Firm’s selection
(c) Customer’s selection
(d) None
Answer:
(a) Selection

Question 19.
In the price of goods rises by 40% but supply increases by only 15%, the supply of goods will be
(a) Elastic
(b) Highly elastic
(c) Perfectly elastic
(d) Inelastic
Answer:
(d) Inelastic

Question 20.
Elasticity of demand is:
(a) Qualitative statement
(b) Queslitative statement
(c) Both
(d) None of these
Answer:
(a) Qualitative statement

Question 21.
GNP_MP = ?
(a) GNP + subsidy
(c) GDP_MP – depreciation
(b) GDP_MP + income from foreign
(d) None of these
Answer:
(c) GDP_MP – depreciation

Question 22.
In which following has a characteristic of monopoly ?
(a) Prohibited in enter of new firm
(b) One seller many buyer
(c) Lack of nearer place
(d) All these
Answer:
(d) All these

Question 23.
Financial year of India is :
(a) From 1st April to 31st March
(b) From 1st Oct. to 30th Sept.
(c) From 1st January to 31st December
(d) None of these
Answer:
(a) From 1st April to 31st March

Question 24.
Central problem of economics is:
(a) Economic development
(b) Allotment of resources
(c) Maximum use of resources
(d) All these
Answer:
(d) All these

Question 25.
Demand curve always downwards :
(a) From left to right
(b) From left to right
(c) Y-axis parallel
(d) None of these
Answer:
(a) From left to right

Question 26.
In balance of Arm is:
(a) MR < MC (b) MR = MC (c) MR > MC
(d) MR = MC = 0
Answer:
(b) MR = MC

Question 27.
Direct taxis:
(a) Gift-tax
(b) Income tax
(c) Both
(d) None of these
Answer:
(c) Both

Question 28.
In India one rupee note is issued by
(a) Reserve Bank of India
(b) Finance ministry of Govt, of India
(c) State Bank of India
(d) None of these
Answer:
(a) Reserve Bank of India

Question 29.
The optional name of opportunity cost is :
(a) Balance price
(b) Marginal cost
(c) Average cost
(d) Economic cost
Answer:
(d) Economic cost

Question 30.
Who said it “Money is what money does.”
(a) Thomas
(b)Kalbum
(c) Hartley withers
(d) Keynes
Answer:
(c) Hartley withers

Question 31.
According to saving-investment viewpoint, income – employment equilibrium will be determined at a point where:
(a) I > S
(b) S < I
(c) I = S
(d) None of these
Answer:
(c) I = S

Question 32.
Who gave the concept of ‘Time Element’ in price • determination process ?
(a) Walras
(b) Recardo
(c) J.K. Mehta
(d) Marshal
Answer:
(d) Marshal

Question 33.
How it is calculated of marginal utility?
\((a) \frac{\Delta T U}{\Delta Q}
(b) \frac{\Delta M U}{\Delta Q}
(c) \frac{\Delta Q}{\Delta T U}
(d) \frac{\Delta Q}{\Delta M U}\)
Answer:
\((c) \frac{\Delta Q}{\Delta T U}\)

Question 34.
A curve which rises first and starts declining after that is called:
(a) APP
(b) MPP
(c) TPP
(d) All these
Answer:
(b) MPP

Question 35.
The quantity of that goods is called where any seller sales goods at fixed place, market and fixed price:
(a) Supply
(b) Demand
(c) Elasticity of supply
(d) Elasticity of demand
Answer:
(c) Elasticity of supply

Question 36.
The Central Bank of India is:
(a) Reserve Bank
(b) State Bank
(c) Public Bank
(d) Share Market
Answer:
(a) Reserve Bank

Question 37.
NNP_Mp ?
(a) GNP_Mp -Depreciation
(b) GNP_MP + Depreciation
(c) GNP_MP + Indirect tax
(d) None of these
Answer:
(a) GNP_Mp -Depreciation

Question 38.
Production function is expressed by
(a) P_x = P_x
(b) Q_x = f(A, B, C, D)
(c) Q_x = D_x
(d) None of these
Answer:
(c) Q_x = D_x

Question 39.
In the following which is not immovable cost ?
(a) Premium of insurance
(b) Interest
(c) Cost of raw material
(d) Rent of factory
Answer:
(d) Rent of factory

Question 40.
Which services included in secondry sector ?
(a) Insurance
(b) Banking
(c) Business
(d) Reconstruction
Answer:
(d) Reconstruction

Question 41.
Which is Budget receipt in the following:
(a) Tax receipts
(b) Capital receipts
(c) a and b both
(d) None of these
Answer:
(c) a and b both

Question 42.
Two branches of economic activities-Micro and Macro are divided by economists ?
(a) Marshall ,
(b)Richardo
(c) Ragner Frish
(d) None of these
Answer:
(c) Ragner Frish

Question 43.
Cost or budget line exbressed by
\((a) \frac{P_{X}}{P_{Y}}
(b) \frac{P_{Y}}{P_{X}} \quad (c) \frac{P_{X}}{P_{Y}} \quad(d)+\frac{P_{Y}}{P_{X}}\)
Answer:
\((a) \frac{P_{X}}{P_{Y}}\)

Question 44.
Demand cycle is expressed by
(a) From above left to right
(b) From bottom right to left
(c) Y-axis
(d) None of these
Answer:
(b) From bottom right to left

Question 45.
In the following, according to kynes, employment principles
(a) Effective Demand
(b) Supply
(O Production Function
(d) None of these
Answer:
(a) Effective Demand

Question 46.
Total cost of market of any country of one year is called (a) GDPm), (b) GDPFC (c) NNPFr (cl) None of these
(a) GDP_MP
(b) GDP_FC
(c) NNP_FC
(d) None of these
Answer:
(b) GDP_FC

Question 47.
Financial year of India is:
(a) From I April to 31 March
(b) From I January to 31 December
(c) From 1 October to 30 September
(d) None of these
Answer:
(a) From I April to 31 March

Question 48.
Multiplier expressed by which formula
\((a) K=\frac{\Delta S}{\Delta L}
(b) K=\frac{\Delta Y}{\Delta L}\)
(c) K = I – S
(d) None of these AL A L
Answer:
(b) K=\frac{\Delta Y}{\Delta L}[/latex]

Question 49.
Money expand when CRR .
(a) decrease
(b) Increase
(c) a and b both
(d) None of these
Answer:
(a) decrease

Question 50.
Narshim committee is related to
(a) By Tax
(b) By Banking
(c) By agriculture
(d) By agriculture
Answer:
(b) By Banking