MODEL QUESTIONS Intermediate Vocational Exam 2018 ECONOMICS Candidates are required to give their answer in their own words as far as practicable : Time :- 3 Hours 15 Minutes Full Marks :- 100 Instructions : There are three sections of questions papers : Section A contains 50 questions. Each question is multiple choice type having 1 mark each. Total Marks 50 Section B contains 22 questions. Each question is short answer type having 2 marks each. Students are instructed to answer any 15 questions out of total 22. Total Marks 30. Section C contains only 4 questions with substitute. Each question is long answer type having 5 marks each. Total marks 20. *** Group - A { } (Objective Type Questions ) *** For Questions Nos. I to 50 there is only one correct answer. In each Question you have to choose correct answer from the given options :
Who is the father of Economics? A. (J.B.Say) B. (Mathus) C. (Adam Smith) D. (Joan Robinson) 3. Which of the following is a source of production? A. (Land) B. (Labour) C. (Capital) D. (All of these) To which sector agriculture activities are associated? A. (Primary Sector) B. (Secondary Sector) C. (Tertiary Sector) D. (All of these) 4. When was Indian Planning commission constituted? A. B. C. D. 5. What is the main occupation of India? A. (Agriculture) B. (banking) C. (Industry) D. (Communication) 6. Who brought green revolution in India? A. (Dada bhai Naroji) B. (M.S Swaminathan) C. (Pt. Jawahar Lal Nehru) D. (Gandhi Ji) 7. Which sector is associated with Green Revolution? A. (Agriculture Sector) B. (Industrial Sector) C. (Service Sector) D. (All of these) 8. Which is the Primary function of commercial banks? A. (Accepting Deposits) B. (Advancing Loans) C. (Credit Creation) D. (All of these)
9. ATM The full form of ATM is A. (Any time money) B. (All time money) C. (Automated Teller Machine) D. A B (A and B both) 10. Which is included in Indirect Tax? A. (Income Tax) B. (wealth Tax) C. (Excise Duty) D. (Gift Tax) 11. Which of the following is the Central bank of India? A. (State Bank of India) B. (Bank of India) C. (Central bank of India) D. (Reserve bank of India) 12. How many factors of production ar there? A. 2 B. 4 C. 5 D. 7 13. Which of he following is an active factor of production? A. (Capital) B. (Labour) C. (Land) D. (None of these) 14. Economy can be classified in to which of the following groups? A. (Capitalistic Economy) B. (Socialistic) C. (Mixed) D. (All of these) 15. Which of the following factor affects demand? A. (Price) B. (Change in Income) C. (Taste of Consumer) D. (All of above) 16. Demand curve generally slopes A. (upward from left to right) B. (downward from left to right) C. (Parallel to x-axis) D. (Parallel to y-axis)
17. India has : A. (Capitalistic Economy) B. (Socialistic economy) C. (Mixed economy) D. (None of these) 18. Where is the head quarter of world trade organization? A. (Geneva) B. (Washington D.C) C. (Vienna) D. (Paris) 19. The leading mica producer in the world is A. (USA) B. (Russia) C. (Japan) D. (India) 20. Who is the chairman of the planning commission in India? A. (President) B. (Vice President) C. (Prime Minister) D. (Finance Minister) 21. Accordign to 2011 Census, The literacy rate of India is A. 71.04% B. 72.04% C. 73.04% D. 74.04% 22. Full form of GST is 23. A. (General Sale Tax) B. (General Service Tax) C. (Goods & Service Tax) D. (General Service Tax) Which state became the first state3 of India to ratify GST bill A. (Bihar) B. (Assam) C. (Andhra Pradesh) D. (Arunachal Pradesh) 24. Which Indian State has the largest number of cotton textile mills? A. (Madhya Pradesh) B. (Maharashtra) C. (Gujrat) D. (West Bengal)
25. 26. 27. Census in India is being held regularly after every : A. (6 years) B. (8 years) C. (10 years) D. (12 years) Who is known as the Father of While Revolution? A. (V Kurien) B. (M.S Swaminathan) C. (JP Narayan) D. (Baba Amte) Which of the following organisation looks after the credit needs of agriculture and rular development in India? A. FCI B. IDBI C. NABARD D. ICAR 28. Which of the following is not a cash crop? A. (jute) B. (Ground nut) C. (Jowar) D. (Sugar Cane) 29. In which year was the new liberalized industiral Policy announced in India? A. B. C. D. 30. Which of the following is known as Plastic money? A. (bearer Cheques) B. (Credit Card) C. (Demand drafts) D. (Gift Cheques) 31. Which is the largest commercial bank in India? A. RBI B. SBI C. ICICI Bank D. BOB 32. When was the Reserve bank of India established? A. B. C. D. 33. In India, Income tax is levied by A. (Union Govt.) B. (State Govt.) C. (Ministry of Finance) D. (RBI)
34. The National Stock Exchange is located at A. (Mumbai) B. (New Delhi) C. (Chennai) D. (Kolkatta) 35. Agriculture employs almost what percent of the Indian Population? A. B. C. D. 36. 37. Which one of the following is a Rabi Crop? A. (Rice) B. (Jowar) C. (Cotton) D. (Peas) How many banks were nationalized in 1969? A. B. C. D. 38. Which Indian state leads in the production of rubber? A. (Tamil Nadu) B. (Kerela) C. (Karnataka) D. (Gujarat) 39. In India, coins are issued by A. (Union Govt) B. (RBI) C. (Finance Ministry) D. (Supreme Court) 40. 41. 42. When was the Reserve Bank of India Nationalized? A. B. C. D. Which of the following is a type of economic activities A. (Production) B. (Comsumption) C. (Exchange) D. (All of these) Micro's which means small belongs to A. (Arabian word) B. (Greek word) C. (German word) D. (English word)
43. Which is the first law of Gossen? A. (Law of Demand) B. (Law of Diminishing Harginal utility) C. (Law of Equi-marginal utility) D. (Consumer's surplus) 44. Micro's which means small belongs to A. (complementary Goods) B. (Substitute Goods) C. (comforts Goods) D. (None of these) 45. Central bank controls credit through A. (Bank Rate) B. (Open market operations) C. CRR (Cash Reserve ratio) D. (None of these) 46. Percentage increase of Indian Population between 2001 and 2011 A. 26.33% B. 19.95% C. 17.7% D. 15.2% 47. WTO WTO was established in the year A. 1950 B. 1960 C. 1990 D. 1995 48. Non conventional sources of energy are A. (Solar energy) B. (wind energy) C. (Bio Gas) D. (None of these) 49. Who gave the concept of vicious circle of Poverty A. (Dada Bhai Nauroji) B. (Arthur Lewis) C. (ragnar Nunkse) D. (M.S Swaminathan) 50. At present the number of industries requiring compulsory licencing is A. 3 B.4 C. 5 D.
*** Group - B 10x1= 10 Define Economy? Define two problems of agriculture sector. Define Unemployment. Explain two main features of Indian Economy. Define Globalization. Define National Income. What is meant by Demand? Define Consumption. Define Barter System. What is Economic activity? Define primary sector. What is Economics Planning? Write two Demerits of Barter system of Exchange.
What is a Direct Tax? Give two example of Indirect Tax. What is Progressive Tax rate? What do you mean by cash crops? Write any two Poverty elimination Programmes being run by govt. What is called human capital? Mention two causes of unemployment in India. Why does a problem of Choice aries? What is operation flood? *** Group - C Explain the various functions of commercial Bank. OR Explain the law of Demand with the help of example.
Discuss the importance of Agriculture in Indian Economy. OR What are the reasons of Poverty in India? Explain the methods of eliminating Poverty. What are the main functions of money? OR Throw light o the achievements and failures of Economic Planning in India. What is Green Revulation? Throw light on its impact on Indian agriculture. OR Discuss the methods of Credit Control by Central Bank of a Country.