You will find MCQ Questions for Class 12 Economics with Answers Free based on the important concepts and topics given in the textbook. Answers of all CBSE Class 12 microeconomics MCQ Questions with Answers provided here with detailed solutions so that you can easily understand the logic behind each answer.
Practicing these CBSE NCERT Objective MCQ Questions of Class 12 Economics with Answers Pdf will help students to attempt the exam with confidence. Know your preparation level on MCQ Questions for Class 12 Economics with Answers. You can also verify your answers from our provided Introduction to Macroeconomics Class 12 MCQ Questions with Answers.
With the help of our provided Class 12 Economics MCQ, you can answer any type of questions in the final exams and competitive exams. You can learn different ways of questions for each chapter from this MCQ of Economics Class 12 with Answers along with a detailed explanation to grasp the concept behind it.
1. What is known as the study of individual units?
(A) Macroeconomics
(B) Microeconomics
(C) Income and Employment Theory
(D) Development economics
2. What is the main cause of all economic problems?
(A) Abundance
(B) Convenience
(C) Scarcity
(D) None of these
3..Study of aggregates is known as _________
(A) Macroeconomics
(B) Microeconomics
(C) Price theory
(D) Factor price determination
4. What is the name of the book written by J.M. Keynes?
(A) Wealth of Nation
(B) Political economy
(C) The General Theory of Employment, Interest and Money
(D) None of these
5..When was the famous book of Prof. Keynes published?
(A) 1930
(B) 1931
(C) 1936
(D) 1940
6. When did the great depression occur?
(A) 1929-30
(B) 1934-35
(C) 1938-39
(D) 1941-42
7. When did the great depression occur?
(i) 1929-30
(ii) 1934-35
(iii) 1938-39
(iv) 1941-42
8. When was the famous book of Prof. Keynes published?
(i) 1930
(ii) 1931
(iii) 1936
(iv) 1940
9. The formula for calculating simple multiplier is
(i) 1/1-MPC
(ii) 1/MPC=MPS
(iii) 1/1-MPS
(iv) 1/MPC+MPS
10. Which among the following does not have the application of multiplier
(i) Determination of income
(ii) Fiscal policy
(iii) Monetary policy
(iv) Foreign direct investment
11. Who is known as the father of modern macroeconomics?
(i) Adam Smith
(ii) J. M. Keynes
(iii) Samuelson
(iv) Hicks
12. Economy may be classified as:
(i) Capitalist
(ii) Socialist
(iii) Mixed
(iv) All of these
13. The central problem of an economy is:
A. What to produce ?
B. How to produce ?
C. How to distribute produced goods ?
D. All of these
14. Mr. Skund Kumar wants to study the national income. Which branch of economics will he have to study?
A. Microeconomics
B. Price theory
C. Factor price determination
D. Macroeconomics
15. The deficiency of aggregate demand during depression period leads to
A. Seasonal unemployment
B. Voluntary unemployment
C. Involuntary unemployment
D. Frictional unemployment
16. If factor cost is greater than Market price, then it means that:
A. Indirect taxes > subsidies
B. Indirect taxes = subsidies
C. Indirect Taxes < Subsidies
D. Indirect taxes = and > subsidies
17. Which among the following does not have the application of multiplier
A. Determination of income
B. Fiscal policy
C. Monetary policy
D. Foreign direct investment
18. What is the name of the book written by J.M. Keynes?
A. The Wealth of Nation
B. The General Theory of Employment, Interest, and Money
C. Political Economy
D. None of these
19. Which of the following is studied under Macro Economics ?
A. National Income
B. Full. Employment
C. Total Production
D. All of these
20. Broker’s commission on sale and purchase of second hand goods is included in national income because:
A. It is a part of compensation of employees
B. It is a part of GRoss Domestic Capital Formation
C. it is an income earned for rendering productive services
D. None of these
21. Study of aggregates is known as _________
A. Macroeconomics
B. Microeconomics
C. Price theory
D. Factor price determination
22. Economy may be classified as:
A. Capitalist
B. Socialist
C. Mixed
D. All of these
23. The reason for downward shape of production possibility curve is:
A. Increasing opportunity cost
B. Decreasing opportunity cost
C. Same opportunity cost
D. Negative opportunity cost
24. Multiplayer is the ratio of
A. change in income to change in investment
B. change in investment to change in income
C. change in income to change in interest
D. None of the above
25. Which one is included in National Income?
A. winning from lottery
B. milk purchase by a dairy shop
C. national debt interest
D. none of these.
