Economics Mcqs Set 01

Economics Mcqs Set 01

Choose the correct answer:

1. The farmers cultivate food grains in the ................ .
(a) sea 
(b) river
(c) land 
(d) terrace
 
2. If we save ............... it is good for the country also.
(a) food crops 
(b) cash crops
(c) food grains 
(d) money
 
3. Receiving of basic requirements is called .................... .
(a) collection 
(b) distribution
(c) communication 
(d) production
 
4. ........................ means buying and selling of goods.
(a) Sales 
(b) Retailing
(c) Trade 
(d) Export
 
5. People without income receive their requirements through .................. .
(a) production 
(b) consumption
(c) distribution 
(d) development
 
6. People are helped by the .................. . 
(a) government 
(b) economists
(c) businessmen 
(d) countries
 
7. Number of basic divisions in Economics.
(a) One 
(b) Two
(c) Three 
(d) Four
 
8. When there is surplus of commodities the price level ....................... .
(a) rises 
(b) falls
(c) remains stable 
(d) changes

Match the following

1.
1. Economy of the country              -   (a) Trades
2. People who buy and sell goods    -   (b) Knowledge of Economics is necessary
3. To attain self-sufficiency              -   (c) Basic needs
4. Food, clothing and shelter           -    (d) National Income
 
Ans: 1.(d); 2.(a); 3.(b); 4.(c);
 
2.
1. Market                           -  (a) Fall in price
2. Agriculture                     -  (b) Economic knowledge
3. Surplus of commodities   -  (c) National income 
4. Annual budget                -   (d) First occupation of man
5. Improvement of Economy - (e) Place of buying and selling goods
 
Ans: 1.(e); 2.(d); 3.(a); 4.(b); 5.(c);