Class Xii Economics (Ied 1-4)

10/9/21, 6:49 PM CLASS XII ECONOMICS (IED 1-4)
CLASS XII ECONOMICS (IED 1-4)

Maximum Marks: 30
Time: 6:15-7:15 pm
General Guidelines:
1) Answer all the questions as directed.
2) Marks are indicated against each question.
3) Read every question carefully before choosing the correct option.
Competency based questions
1. Write your full name *
SOMYA AGGARWAL
2. To protect goods in India from imports, Government made use of: *

(1 Point)
Quotas
Tariffs
Both a& b
Neither a nor b
3. In which year ,”National Food for Work Programme” was launched ? *

(1 Point)
2008
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2005
2004
2010
4. According to planning commission , the minimum Monthly Per

CapitaConsumption Expenditure (MPCE ) in 20211-12 WAS fixed as Rs. ______ per
person in rural area and Rs. _______ in urban area. *
(1 Point)
RS 800 per person in rural area & RS 900 in urban area
5. The programme initiated by the government to improve food and nutritional level
of poor was *
(1 Point)
Public distribution system
Integrated child development scheme
Midday Meal Scheme
All of these
6. Karve committee focused on the development of________ *

(1 Point)
Cottage industries
Small scale industries
Large scale industries
All of these
7. Which of the following is not an element of fiscal reforms? *

(1 Point)
Contraction of public sector
Disinvestment in public sector enterprises
Sale of Public sector’s shares
Purchase of industrial shares by the government
8. The earlier ‘ Food for work programme ‘ has now been converted into *
(1 Point)
Minimum needs programme
Integrated rural development Programme
Mahatma Gandhi National rural employment programme
PMRY
9. Under MGNREGA (Mahatma Gandhi National Rural Employment Guarantee ACT-
2005 ) work is offered for a minimum period of _____ days. *

(1 Point)
150 days
100 days
200 days
50 days
10. In April 2015, which of these schemes was launched by the prime minister
Narendra Modi. *
(1 Point)
Make In India
Clean India Mission
MGNREGA
Micro units development refinance agency bank (MUDRA BANK)
11. Approach followed by the government to reduce poverty in India *

(1 Point)
Growth oriented
Specific poverty alleviation programmes
meeting the minimum needs of the poor
all of these
12. _ _ _ _ _ _ _ _ was the Indian Finance Minister in 1991, acknowledged for the
capabilities
to steer away the economic crisis looming large on the erstwhile Indian Economy.
*
(1 Point)
Dr. Subhramanian Swamy
Dr Manmohan Singh
Pranab Mukherjee
Dr. Urjit Patel
13. Demonetisation is the _________ policy wherein the legal status of a currency unit is
cancelled and new one comes into circulation . *

(1 Point)
Social
Legal
Economic
Political
14. India announced the New Economic Policy after agreeing to the conditions of: *
(1 Point)
World Bank
International Monetary Fund
Reserve Bank of India
Both (a) and (b)
15. What was the one major proposal of new industrial policy (1991). *
(1 Point)
NRI’s will not be allowed for capital investment in India.
Facility of FDI up to 51 percent in high priority industries.
Import restrictions on technical knowhow for one year
Abolition of industrial licensing except for five industries.
16. Liberalisation of the economy under the new economic policy changed the role of
RBI in the
economy *
(1 Point)
From a ‘regulator’ to a ‘facilitator’ of the financial sector
from a ‘controller’ to a ‘manager’ of the government debt
both (a) and (b)
none of these
17. Which of the following is the strategy to promote globalization of the Indian
economy? *
(1 Point)
Partially convertibility
Reduction in tariffs
Increase in equity limit of foreign investment
All of these
18. Assertion (A): Every year government fixes a target for disinvestment of Public
Sector Enterprises ).
Reason ( R) : Disinvestment is an excellent tool for discarding the loss incurring

Public Sector Enterprises *
(1 Point)
Both Assertion (A) and Reason (R) are true and Reason (R ) is the correct explanation
of Assertion (A)
Both Assertion (A) and Reason (R) are true and Reason (R ) is not the correct
explanation of Assertion (A).
Assertion (A) is true but Reason (R ) is false
Assertion (A) is false but Reason (R ) is true.
19. Assertion (A): GST consists of three components such as Central GST (CGST ) ,
State GST (SGST) and Integrated GST (IGST).
Reason ( R): Central GST (CGST) and State GST (SGST) will apply to all transactions
goods and services. *
(1 Point)
of Assertion (A)
20. Assertion (A): Privatisation process leads to a change in management with a

change in ownership.
Reason ( R): Change in management is not a necessary condition for the process
of privatization. *
(1 Point)
of Assertion (A)
21. Assertion (A): New Economic Policy (NEP), 1991 was focused on liberalization,
privatization and globalization.
Reason ( R): The policy was necessitated because of the crisis situation in the
economy in 1991 *
(1 Point)
of Assertion (A)
22. Assertion (A): Under NEP, roe of RBI shifted from that of facilitator to a regulator.
Reason ( R): Now, market forces decide interest rate structure, volume and the
pattern of
investment. *
(1 Point)
of Assertion (A)
23. Who introduced the concept of “Jail cost of Living “ *

(1 Point)
Mahatma Gandhi
Dadabhai Naoroji
VKRV Rao
Amartya Sen
24. In pre-independent India , he was the first to discuss the concept of poverty line *
(1 Point)
Mahatma Gandhi
Dadabhai Naoroji
VKRV Rao
Amartya Sen
25. MPCE stands for *

(1 Point)
Minimum per capita expenditure
Maximum Per Capita Expenditure
Money Per Capita Expenditure
Monthly Per Capita Expenditure
Read the following passage and answer the following questions

For overall economic development of the country government needs to focus on the development of
agriculture sector as 49% of the population is engaged in primary sector. Green revolution was one
such initiative taken by the government which has increased the production of food grains like wheat
and rice. Green revolution was possible due to the use of HYV seeds, irrigation facilities and fertilizers.
This made India not only self-reliant but also helped it to become an exporter of food grains.
But effects of Green Revolution were more prominent in few states like Punjab, Haryana and Tamil
Nadu. It was widened the gap between rich and poor in the ruler India.
26. Identify the element which is not related with green revolution
(1 Point)
Improved seeds
Fertilizers
New strategy for agriculture
Increase in population
27. Assertion (A) The major policy initiatives like land reforms and green
revolution helped India to become self -reliant in food grains productions

Reason (R) The proportion of people depending on agriculture did not decline
as expected.
(1 Point)
Both Assertion and Reason are true and Reason is correct explanation of the Assertion.
Both Assertion and Reason are true but Reason is not correct explanation of the
Assertion.
Assertion is true but Reason is false.
Assertion is false but reason is true.
28. Which of the following is NOT the reason for removal of subsidies ?
(1 Point)
Burden on government
Benefit to fertilizers industry and not farmers
Objective was to implement green revolution and so later on it was decided to remove
subsidy
None of the above
Read the following passage and answer the following questions

The reduction in poverty hasn’t been impressive has also been pointed out by an assessment released
in January 2020 by government think-tank NITI Aayog .Going by the states ‘ progress on poverty
reduction ,India is far behind the ‘zero poverty by 2030” States rather slipped in their efforts to reduce
poverty in 2019 in comparison in 2018. The lapsing back of people climbing above the poverty line is
the most important reason of chronic poverty. Poverty line is a cut -off point on the line of distribution,
which usually divides the population of the country as poor and non -poor.
29. THE above paragraph relates to. *

(1 Point)
Chronic poor
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churning poor
occasionally poor
transient poor
30. The ratio measures the number of poor below poverty line is known as *
(1 Point)
Head count ratio
Population count ratio
Poverty count ratio
None of these
31. Assertion (A) : Poverty is closely related to unemployment
Reason (R) : Unemployment compels indebtedness and reinforces poverty. *

(1 Point)
of Assertion (A)
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Class Xii Economics (Ied 1-4)

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10/9/21, 6:49 PM CLASS XII ECONOMICS (IED 1-4)

CLASS XII ECONOMICS (IED 1-4)

Time: 6:15-7:15 pm

1) Answer all the questions as directed.

2) Marks are indicated against each question.

3) Read every question carefully before choosing the correct option.

Competency based questions

1. Write your full name *

2. To protect goods in India from imports, Government made use of: *

3. In which year ,”National Food for Work Programme” was launched ? *

4. According to planning commission , the minimum Monthly Per

RS 800 per person in rural area & RS 900 in urban area

RS 816 per person in rural area & RS 1000 in urban area

RS 1000 per person in rural area & RS 816 in urban area

RS 860 per person in rural area & RS 950 in urban area

Public distribution system

Integrated child development scheme

Midday Meal Scheme

6. Karve committee focused on the development of________ *

Small scale industries

Large scale industries

7. Which of the following is not an element of fiscal reforms? *

Contraction of public sector

Disinvestment in public sector enterprises

Sale of Public sector’s shares

Purchase of industrial shares by the government

Minimum needs programme

Integrated rural development Programme

Mahatma Gandhi National rural employment programme

9. Under MGNREGA (Mahatma Gandhi National Rural Employment Guarantee ACT-

2005 ) work is offered for a minimum period of _____ days. *

Clean India Mission

Micro units development refinance agency bank (MUDRA BANK)

11. Approach followed by the government to reduce poverty in India *

Specific poverty alleviation programmes

meeting the minimum needs of the poor

Dr. Subhramanian Swamy

Dr. Urjit Patel

cancelled and new one comes into circulation . *

International Monetary Fund

Reserve Bank of India

Both (a) and (b)

NRI’s will not be allowed for capital investment in India.

Facility of FDI up to 51 percent in high priority industries.

Import restrictions on technical knowhow for one year

Abolition of industrial licensing except for five industries.

From a ‘regulator’ to a ‘facilitator’ of the financial sector

from a ‘controller’ to a ‘manager’ of the government debt

both (a) and (b)

Increase in equity limit of foreign investment

Reason ( R) : Disinvestment is an excellent tool for discarding the loss incurring

Assertion (A) is true but Reason (R ) is false

Assertion (A) is false but Reason (R ) is true.

Assertion (A) is true but Reason (R ) is false

Assertion (A) is false but Reason (R ) is true.

20. Assertion (A): Privatisation process leads to a change in management with a

Assertion (A) is true but Reason (R ) is false

Assertion (A) is false but Reason (R ) is true.

Assertion (A) is true but Reason (R ) is false

Assertion (A) is false but Reason (R ) is true.

Assertion (A) is true but Reason (R ) is false

Assertion (A) is false but Reason (R ) is true.