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Class 12 - Economics Balance

of Payments Test - 01
1. Disequilibrium in the balance of payments leads to:

a) decrease in official reserves with RBI
b) none of these
c) increase in official reserves with RBI
d) both increase and decrease in official reserves with RBI
2. Which of the following will be entered as a Credit in the Balance of Payments of a country? a) Transfer payments
b) Imports of goods and services
c) Purchase of foreign securities
d) Portfolio investments
3. Foreign exchange transactions dependent on other foreign exchange transactions are called ________. a)
Accommodating transactions
b) Capital account transactions
c) Current account transactions
d) Autonomous transactions
4. Balance of payment Accounts is a:
a) A systematic record of economic transactions between the residents of a country & abroad.
b) A systematic record of all economic transactions between the residents of a country.
c) A systematic record of all receipts between the residents of a country and abroad.
d) A systematic record of all expenditures between the residents of a country and abroad.
5. Match the following:
(a) Balance of trade (i) Balance on current account BOP + balance on capital account BOP
(b) Current account BOP (ii) Export of goods - import of goods
(c) Invisible balance (iii) Trade balance + invisible trade
(d) Balance of payments (iv) Balance of non factor services + balance of income + balance of transfers
6. What are unilateral transfers?

7. What are the two major categories of accounts in the BoP accounts statement?
8. List the items included as invisibles in the balance of payments account.
9. Name the broad categories of transactions recorded in the capital account of the Balance of Payments Account.
10. List the transactions of Current Account of the Balance of Payments Account.
11. Write any three points of difference between BOT and BOP.
12. Name three such items which are not included in balance of trade.
13. In last few years, the trade balance of India is mostly negative. In order to make this trade balance positive, the
government has started “Make in India". With respect to the above statement explain what is negative trade balance
and why it is necessary to maintain trade balance in international trade? How the position of India's Trade Balance
will improve with "Make In India" scheme?
14. State the measures to correct disequilibrium (deficit) in Balance of Payments Account.
15. From the following data, calculate
i. Balance of trade
ii. Balance of Payments on Current Account
iii. Balance of Payments on Capital Account iv. Balance of Payments
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(₹)
(1) Exports of goods 2,200
(2) Exports of services 600
(3) Transfer payments from rest of the world 400
(4) Capital receipts 800
(5) Imports of goods 3,000
(6) Imports of services 160
(7) Transfer payments to rest of the world 600
(8) Capital Payments 240

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Class 12 - Economics Economic Reforms Since 1991 Test - 01
1. Name the concept which is related to relaxation of government restrictions and control which are in force in the
economy. a) Disinvestment
b) Globalisation
c) Liberalisation
d) Privatisation
2. ________ sector remained stagnant during reform period.
a) All of these
b) Secondary Sector
c) Primary Sector
d) Tertiary Sector
3. The new economic policy seeks to replace:
a) LQP raj
b) LLP raj
c) LPG raj
d) LQG raj
4. Though the GDP growth rate has increased in the reform period
a) Employment rate has fallen
b) Employment rate has rise
c) Reemployment rate has fluctuates
d) Employment rate remains same
To Match the following:
(a) Industrial reforms (i) reforms related to foreign exchange etc.
(b) Financial reforms (ii) reforms related to govt. taxation policies
(c) Fiscal reforms (iii) reforms related to banking sector
(d) External sector reforms (iv) reforms related to licensing, expansion etc.
5. Give an example of anyone reform undertaken under privatisation.
6. Why did the Indian Government need to borrow from international organisations?
7. When was new economy policy announced?
8. Identify the aspects of economic reforms introduced in 1991:
i. Disinvestment of shares of public sector enterprises.
ii. Reduction in custom duties. iii. Freedom of fixing prices of goods and services. iv.
Lifting of restrictions on imports.
v. Easy entry of foreign direct investment.
vi. transfer of ownership of PSUs to private sector.
9. What is the meaning of Quantitative Restrictions?
10. What is WTO? What is it supposed to do?
11. Why has the industrial sector performed poorly in the reform period?
12. What was Navratna Policy? Make a list of companies included in Navratnas.
13. Explain negative impacts of liberalisation and globalisation on business and industry in India.
14. What is new economic policy? Briefly explain it.

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Class 12 - Economics Development Experiences India & Neighbours Test - 01
1. Which of the following country has highest HDI rank?

a) China
b) Pakistan
c) India
d) None.
2. ________ performance in providing sanitation is better in comparison to ________. a) China’s, India
b) Pakistan’s, India
c) China’s, Pakistan
d) India’s, Pakistan
3. Which economic system did India adopt as development strategy?
a) Socialist system
b) Socialist system upto 1991 and then capitalist system
c) Mixed capitalist system
d) Capitalist system
4. In PPP Parity means
a) Equality
b) Partiality
c) Partners
d) Any other
To practice more questions & prepare well for exams, download myCBSEguide App. It provides complete study
material for CBSE, NCERT, JEE (main), NEET-UG and NDA exams. Teachers can use Examin8 App to create similar
papers with their own name and logo.
5. When were economic reforms introduced in Pakistan?
6. Mention feature of China’s economy.
7. When was one-child norm introduced in China?
8. India, China, and Pakistan have travelled more than seven decades of the developmental path with varied results.
Explain the given statement with valid arguments.
9. Evaluate the various factors that led to the rapid growth in economic development in China.
10. Comment on the growth rate trends witnessed in India, China and Pakistan. 11. What are the common failures of
India and Pakistan as compared to China?
12. Make a comparative study between India, China and Pakistan in the context of sex ratio, fertility and Urbanisation by
understanding the given data.
Country (2015) Sex ratio Fertility Urbanisation
India 929 2.43 33
China 941 1.50 56
Pakistan 947 2.62 39
13. What makes China stand out in comparison to India and Pakistan?
14. Explain the role of the following strategies in the development of China: Great Leap Forward, Special Economic Zone
and Dual Pricing System
15. Briefly discuss the various development strategies pursued by China.

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Class 12 - Economics Human Capital Formation in India Test - 01
1. Following states have high literacy rate except________.

a) Mizoram
b) Rajasthan
c) Kerala
d) Delhi
2. Which of the following is not an indicator of education level?
a) Teacher-pupil ratio
b) Years of schooling
c) Life expectancy
d) Enrollment rate
3. Which of the following is an example of curative medicine?
a) Spread of health literacy
b) All of these
c) Vaccination
d) Medical intervention during illness
4. Which is the problem of human capital formation in India?
a) Decreasing population
b) High academic level
c) Brain drain
d) Gender equality
5. Match the following-:
(a) Physical capital (i) refers to paper claims against physical capital
(b) Human capital (ii) refers to the produced means of production
(c) Financial capital (iii) refers to the stock of resources
(d) Natural capital (iv) refers to skills & expertise acquired by man over time
6. In which year the Indian Government made free and compulsory education for the age group of 6-14 years?
7. How is expenditure on health a source of capital formation?
8. Name any two sources of human capital formation.
9. Looking at the statistics, we find that more of educated people are engaged in crimes.
More of educated people are committing suicide. How do you think we need to mould our education system to correct
the situation?
10. How is health a source of human capital formation?
11. Why the Indian education system is considered faulty from an employment angle?
12. Why there is a need to promote women's education in India?
13. State the role of education in human capital formation.
14. Saksham argues that in the era of privatisation, there is no need for government intervention in education and health
sectors. However, his friend Ahaan argues that education and health care services create social benefits and therefore
there is a need for government intervention in education and health sectors. Decide with reasons who is right?
15. In your view, is it essential for the government to regulate the fee structure in education and healthcare institutions? If
so, why?
Class 12 - Economics Human Capital Formation in India Test - 01

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myCBSEguide

Class 12 - Economics Balance

1. Disequilibrium in the balance of payments leads to:

(b) Current account BOP (ii) Export of goods - import of goods

(c) Invisible balance (iii) Trade balance + invisible trade

6. What are unilateral transfers?

(1) Exports of goods 2,200

(2) Exports of services 600

(3) Transfer payments from rest of the world 400

(4) Capital receipts 800

(5) Imports of goods 3,000

(6) Imports of services 160

(7) Transfer payments to rest of the world 600

(8) Capital Payments 240

Copyright © myCBSEguide.com. Mass distribution in any mode is strictly prohibited.

Copyright © myCBSEguide.com. Mass distribution in any mode is strictly prohibited.

Class 12 - Economics Economic Reforms Since 1991 Test - 01

(a) Industrial reforms (i) reforms related to foreign exchange etc.

(b) Financial reforms (ii) reforms related to govt. taxation policies

(c) Fiscal reforms (iii) reforms related to banking sector

Copyright © myCBSEguide.com. Mass distribution in any mode is strictly prohibited.

Class 12 - Economics Economic Reforms Since 1991 Test - 01

Copyright © myCBSEguide.com. Mass distribution in any mode is strictly prohibited.

Class 12 - Economics Development Experiences India & Neighbours Test - 01

1. Which of the following country has highest HDI rank?

India 929 2.43 33

China 941 1.50 56

Pakistan 947 2.62 39

Copyright © myCBSEguide.com. Mass distribution in any mode is strictly prohibited.

Class 12 - Economics Development Experiences India & Neighbours Test - 01

Copyright © myCBSEguide.com. Mass distribution in any mode is strictly prohibited.

Class 12 - Economics Human Capital Formation in India Test - 01

1. Following states have high literacy rate except________.

(b) Human capital (ii) refers to the produced means of production

(c) Financial capital (iii) refers to the stock of resources

Copyright © myCBSEguide.com. Mass distribution in any mode is strictly prohibited.

Copyright © myCBSEguide.com. Mass distribution in any mode is strictly prohibited.

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