Students additionally can step through a free exam of the Multiple Choice Questions of Class 12 Economics. Each question has four choices followed by the right answer. These MCQ Questions are chosen designed by the most current exam pattern as declared by CBSE. Students can practice CBSE Class 12 Economics Multiple Choice Questions with Answers to score great marks in the examination.
Practice here the Multiple Choice Questions from Class 12 Economics book with Answers according to CBSE Syllabus. This might help you to comprehend and check your insight about the sections. Practicing these CBSE MCQ Questions of Class 12 Economics with Answers will direct students to do a speedy amendment or revisions for every one of the ideas concepts present in every section and prepare for the final exams of the year.
Let's Start Practice of given Multiple Choice Questions for scoring high in the exam:-
1. In which year did India adopt the economic reforms?
(A) 1991
(B) 1993
(C) 1998
(D) 2001
2. Why there was a need for economic reforms in India?
(A) Due to fiscal deficit
(B) Due to adverse BOP
(C) Rise in prices
(D) All of the above
3.When did the Gulf Crisis take place?
(A) 1985
(B) 1990-91
(C) 1995
(D) 1975
4. How much loan was provided by World Bank and IMF during the nineties to bail India out of the crisis?
(A) $10 million
(B) $10 billion
(C) $7 billion
(D) $20 billion
5. What is the main feature of New Economic Policy?
(A) Liberalisation
(B) Privatisation
(C) Globalisation
(D) All of the above
6. The most urgent problem which prompted the introduction of New Economic Policy in 1991 was:
(a) Bad performance of public sector units
(b) Foreign exchange crises
(c) High tax rates leading to tax evasion
(d) All the above
7. Industrial Policy before 1991 was essentially a:
(a) Pro-Private sector policy
(b) Anti-public sector policy
(c) Pro-public sector policy
(d) Anti-private sector policy
8. The most important change in Foreign Trade Policy from 1991 onwards was:
(a) Reducing restrictions on imports
(b) Reducing restrictions on exports
(c) Both a) and b)
(d) Reducing restrictions on specific goods only
9. Inward foreign direct investment is useful because:
(a) Brings in foreign exchange
(b) Brings in modern technology
(c) Brings in management expertise
(d) All the above
10. Fiscal deficit is that part of total government expenditure which is met by:
(a) Imposing more taxes
(b) Selling shares held by government
(c) Borrowings
(d) All the above
11. MUDRA Bank was set up to meet the credit needs of the …………………
(a) farmers
(b) small enterprises
(c) large enterprises
(d) exporters
12. Which of the following replaced MRTP Act?
(a) Competition Act
(b) Foreign Exchange Management Act
(c) New Companies Act
(d) None of these
13. To provide refinance facilities to micro-units, an agency named MUDRA was established by the government. In which year this agency was set up?
(a) 1991
(b) 1999
(c) 2005
(d) 2015
14. At present how many industries are exclusively reserved for the public sector in India?
(a) Two
(b) Three
(c) Four
(d) Five
15. At present the number of industries requiring company licensing is ……………….
(a) Eight
(b) Six
(c) Four
(d) Five
16. Make in India programme was launched in
(i) 1991
(ii) 2014
(iii) 2015
(iv) 2016
17. In which year did India adopt the economic reforms?
(i) 1991
(ii) 1993
(iii) 1998
(iv) 2001
18. Which of the following replaced MRTP Act?
(i) Competition Act
(ii) Foreign Exchange Management Act
(iii) New Companies Act
(iv) None of these
19. When did the Gulf Crisis take place?
(i) 1985
(ii) 1990-91
(iii) 1995
(iv) 1975
20. At present how many industries are exclusively reserved for the public sector in India?
(i) Two
(ii) Three
(iii) Four
(iv) Five
21. What is the main feature of New Economic Policy?
(i) Liberalisation
(ii) Privatisation
(iii) Globalisation
(iv) All of the above
22. GST has been implemented from
(i) April 1, 2018
(ii) January 1, 2018
(iii) January 1, 2017
(iv) July 1, 2017
23. How many industries are entirely reserved for the public sector?
(i) 6
(ii) 10
(iii) 2
(iv) 4
24. How much loan was provided by World Bank and IMF during the nineties to bail India out of the crisis?
(i) $10 million
(ii) $10 billion
(iii) $7 billion
(iv) $20 billion
25. When was VAT introduced in most of the States of India?
(i) 1995
(ii) 2001
(iii) 2005
(iv) 2006
