Class 12 Economics MCQ Chapter 1 Introduction Question Answer English Medium to each chapter is provided in the list so that you can easily browse through different chapters Class 12 Economics MCQ Chapter 1 Introduction and select need one. AHSEC Class 12 Economics Objective Type Solutions As Per AHSEC New Book Syllabus Download PDF. AHSEC Economics MCQ Class 12.
Class 12 Economics MCQ Chapter 1 Introduction
Also, you can read the NCERT book online in these sections Solutions by Expert Teachers as per Central Board of Secondary Education (CBSE) Book guidelines. AHSEC Class 12 Economics Multiple Choice Solutions are part of All Subject Solutions. Here we have given AHSEC Class 12 Economics MCQ in English for All Chapters, You can practice these here.
Introduction
Chapter: 1
| PART – A: INTRODUCTORY MICROECONOMICS |
1. Microeconomics studies:
(i) Individual units.
(ii) Aggregates.
(iii) National income.
(iv) Price level.
Ans: (i) Individual units.
2. Macroeconomics is the study of:
(i) Individuals.
(ii) Firms.
(iii) Economy as a whole.
(iv) Single market.
Ans: (iii) Economy as a whole.
3. Which of the following is a macroeconomic concept?
(i) Price of apples.
(ii) General price level.
(iii) Supply of rice.
(iv) Demand for oranges.
Ans: (ii) General price level.
4. The main tool of microeconomics is:
(i) Aggregate demand.
(ii) Aggregate supply.
(iii) Demand and supply of a particular commodity.
(iv) National income.
Ans: (iii) Demand and supply of a particular commodity.
5. The main tool of macroeconomics is:
(i) Market demand of apples.
(ii) Aggregate demand and supply.
(iii) Price of wheat.
(iv) Household expenditure.
Ans: (ii) Aggregate demand and supply.
6. Who is the founder of modern macroeconomics?
(i) Adam Smith.
(ii) J.S. Mill.
(iii) J.M. Keynes.
(iv) Malthus.
Ans: (iii) J.M. Keynes.
7. Which book was written by Keynes?
(i) Wealth of Nations.
(ii) Principles of Economics.
(iii) General Theory of Employment, Interest and Money.
(iv) Das Kapital.
Ans: (iii) General Theory of Employment, Interest and Money.
8. The Great Depression began in:
(i) 1920.
(ii) 1929.
(iii) 1947.
(iv) 1936.
Ans: (ii) 1929.
9. Which event marked the start of the Great Depression?
(i) Oil crisis.
(ii) Bank failures.
(iii) Stock market crash.
(iv) Drought.
Ans: (iii) Stock market crash.
10. Which of the following is not a sector of the economy?
(i) Household.
(ii) External.
(iii) Government.
(iv) Retail.
Ans: (iv) Retail.
11. Microeconomics is mainly concerned with:
(i) Aggregate output.
(ii) Price of a commodity.
(iii) National income.
(iv) Government budget.
Ans: (ii) Price of a commodity.
12. Macroeconomics includes the study of:
(i) Individual demand.
(ii) Aggregate demand.
(iii) Demand for apples.
(iv) Price of one good.
Ans: (ii) Aggregate demand.
13. Household sector includes:
(i) Banks.
(ii) Firms.
(iii) Consumers.
(iv) Government.
Ans: (iii) Consumers.
14. Producing sector includes:
(i) Only households.
(ii) All producing units.
(iii) Only the government.
(iv) Only exporters.
Ans: (ii) All producing units.
15. External sector deals with:
(i) Internal trade.
(ii) Government budget.
(iii) Export and import.
(iv) Price level.
Ans: (iii) Export and import.
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