SEBA Class 7 Social Science MCQ Chapter 19 Planning, Budget and Development Solutions in English Medium, Class 7 Social Science Multiple Choice Question Answer in English to each chapter is provided in the list so that you can easily browse throughout different chapters SEBA Class 7 Social Science MCQ Chapter 19 Planning, Budget and Development and select need one.
SEBA Class 7 Social Science MCQ Chapter 19 Planning, Budget and Development
Also, you can read the SCERT book online in these sections Class 7 Social Science Objective Type Solutions by Expert Teachers as per SCERT (CBSE) Book guidelines. These solutions are part of SCERT All Subject Solutions. Here we have given Assam SEBA Class 7 Social Science Multiple Choice Questions and Answer for All Subject, You can practice these here.
Planning, Budget and Development
Chapter – 19
POLITICAL AND ECONOMICS
| MCQ |
1. What is the primary source of income for most families?
(a) Investments.
(b) Business profits.
(c) Salaries and wages.
(d) Government grants.
Answer: (c) Salaries and wages.
2. Why is it important for families to plan their budget?
(a) To ensure they save all their income.
(b) To manage expenses within their income.
(c) To increase their debt.
(d) To spend all their money immediately.
Answer: (b) To manage expenses within their income.
3. Which of the following is a fixed expense for most families?
(a) Entertainment.
(b) Grocery shopping.
(c) Mortgage or rent.
(d) Clothing.
Answer: (c) Mortgage or rent.
4. Why is having a fixed time limit for income important?
(a) It helps in long-term planning.
(b) It leads to overspending.
(c) It is irrelevant to budgeting.
(d) It encourages borrowing.
Answer: (a) It helps in long-term planning.
5. What is the benefit of saving a portion of family income?
(a) To have funds for emergencies.
(b) To spend more on luxury items.
(c) To reduce income.
(d) To avoid paying taxes.
Answer: (a) To have funds for emergencies.
6. What is the purpose of governmental planning?
(a) To increase taxes.
(b) To ensure the efficient functioning of the nation.
(c) To reduce public services.
(d) To promote private businesses only.
Answer: (b) To ensure the efficient functioning of the nation.
7. Which of the following is an example of governmental planning?
(a) Family budgeting.
(b) Corporate investment strategies.
(c) National development plans.
(d) Personal saving plans.
Answer: (c) National development plans.
8. What is one of the main goals of governmental planning?
(a) To increase imports.
(b) To manage public resources effectively.
(c) To decrease the national income.
(d) To privatize all sectors.
Answer: (b) To manage public resources effectively.
9. Which sector is typically included in governmental planning?
(a) Healthcare.
(b) Private homes.
(c) Individual savings accounts.
(d) Personal shopping lists.
Answer: (a) Healthcare.
10. Why is governmental planning necessary for economic stability?
(a) It increases national debt.
(b) It leads to random growth.
(c) It helps balance economic resources.
(d) It reduces employment.
Answer: (c) It helps balance economic resources.
11. For how long is a national budget typically prepared?
(a) One month.
(b) One quarter.
(c) One year.
(d) Five years.
Answer: (c) One year.
12. What is the basis for preparing a national budget?
(a) National debt.
(b) National income.
(c) Foreign aid.
(d) Individual savings.
Answer: (b) National income.
13. Which document outlines a nation’s expected income and expenditure for a specific period?
(a) Constitution.
(b) National budget.
(c) Census report.
(d) Land registry.
Answer: (b) National budget.
14. What is included in a national budget?
(a) Personal expenditures.
(b) Government revenues and expenses.
(c) Individual savings plans.
(d) Corporate earnings.
Answer: (b) Government revenues and expenses.
15. Why is it important for a nation to have a budget?
(a) To promote unplanned spending.
(b) To ensure financial discipline and growth.
(c) To discourage investments.
(d) To increase inflation.
Answer: (b) To ensure financial discipline and growth.
