CBSE 12TH ECONOMICS - Online Test
Q1. Price determination of a commodity is a subject matter of microeconomics.
Answer : Option A
Explaination / Solution:
Micro economics deals with the behaviour of individual economic units such as consumers and business firm and is concerned with the determination of relative prices of commodities and factors of production.
Q2. The elasticity of supply measures
Answer : Option A
Explaination / Solution:
No Explaination.
Q3. M2 includes M1 and
Answer : Option B
Explaination / Solution:
No Explaination.
Q4. When a firm’s TR
Answer : Option D
Explaination / Solution:
No Explaination.
Q5. The coefficient (1-b) measures the
Answer : Option C
Explaination / Solution:
No Explaination.
Q6. Revenue Receipts
Answer : Option B
Explaination / Solution:
No Explaination.
Q7. Capital Receipts
Answer : Option D
Explaination / Solution:
No Explaination.
Q8. When will the domestic income be greater than the national income?
Answer : Option B
Explaination / Solution:
No Explaination.
Q9. Which of the following statements regarding ordinal utility is true?
Answer : Option A
Explaination / Solution:
No Explaination.
Q10. Balance of trade is in surplus when
Answer : Option A
Explaination / Solution:
A trade surplus is an economic measure of a positive balance of trade, where a country's exports exceed its imports. A trade surplus represents a net inflow of domestic currency from foreign markets. trade surplus helps to strengthen a country’s currency; however, this is dependent on the proportion of goods and services of a country in comparison to other countries as well as other market factors. Countries can also highly control their currency through foreign investment efforts.
