CBSE 12 Economics Question Paper-2023 Set-1 by Pavan | Practice Test to Test Your Knowledge
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  3. CBSE 12 Economics Question Paper-2023 Set-1
CBSE 12 Economics Question Paper-2023 Set-1

CBSE 12 Economics Question Paper-2023 Set-1

This mock test includes actual CBSE Class 12 Economics board exam questions from the year 2023 Set-1, helping students understand exam trends and practice real paper format

2025-08-17
Pavan Pavan
CBSE Class 12 Economics 2023 Grade 12

Duration

25 min

Questions

25

Marking

Negative

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Questions Preview

Economic activities in an economy that are related to the production of goods and services are called:

A
Service sector
B
Primary sector
C
Tertiary sector
D
Secondary sector

Which of the following is a type of economic system in which economic decisions are made by market forces?

A
Mixed economy
B
Socialist economy
C
Centrally planned economy
D
Capitalist economy

Which of the following in the Indian economy is related to the primary sector?

A
Railways
B
Fishing
C
Hotel
D
Insurance

A situation in which all people in the labor force who want to work and are willing to work at the existing wage rate are employed is called:

A
Under-employment
B
Full employment
C
Open unemployment
D
Seasonal unemployment

Which of the following is not a method of estimating national income?

A
Income method
B
Expenditure method
C
Product method
D
Demand method

Which of the following is a type of economic system in which the government does not interfere in economic decisions?

A
Mixed economy
B
Socialist economy
C
Capitalist economy
D
Centrally planned economy

Which of the following in the Indian economy is related to the service sector?

A
Textile industry
B
Agriculture
C
Insurance
D
Fishing

A situation in which people are willing to work at the prevailing wage rate but are unable to find work is called:

A
Under-employment
B
Open unemployment
C
Full employment
D
Disguised unemployment

Which of the following is a method of estimating national income?

A
Income method only
B
Expenditure method only
C
Product method, income method, and expenditure method
D
Demand method

Which of the following is a characteristic of a 'Capitalist economy'?

A
Private ownership of the means of production
B
Economic decisions by the market
C
Consumer sovereignty
D
All of the above

Which of the following is not an indicator of economic development?

A
Literacy rate
B
Infant mortality rate
C
Per capita income
D
National debt

A situation in which a worker does not get a job according to his qualifications is called:

A
Under-employment
B
Open unemployment
C
Disguised unemployment
D
Structural unemployment

Which of the following is not related to the agricultural sector?

A
Soil
B
Crop
C
Livestock
D
Communication

The production and distribution of goods and services in an economy is based on?

A
Demand and supply
B
Government policy
C
Market mechanism
D
All of the above

What is the formula for calculating the per capita income of a country?

A
National income / Total population
B
Total population / National income
C
GDP / Total population
D
GDP + National debt

Which of the following is a component of the 'Expenditure method' used to estimate national income?

A
Rent
B
Profit
C
Consumption expenditure
D
Salary

Which of the following is a feature of a mixed economy?

A
Co-existence of market forces and government
B
Only private sector
C
Only public sector
D
Weak government intervention

Which of the following is related to the secondary sector?

A
Banking
B
Manufacturing
C
Agriculture
D
Fishing

In a state of full employment, what is true?

A
No person is unemployed
B
Some people are seasonally unemployed
C
Some people are voluntarily unemployed
D
All people who want to work are working

Which of the following is a 'factor of production' for an economy?

A
Land
B
Capital
C
Labor
D
All of the above

In a capitalist economy, who determines the production and investment for profit?

A
Government
B
Market forces
C
Private enterprises
D
Only consumers

Which of the following is related to the agricultural sector?

A
Agriculture
B
Industry
C
Service
D
Manufacturing

What is the meaning of disguised unemployment?

A
People want to work but are not getting work
B
People are unemployed for some months of the year
C
Some people are employed but their contribution is negligible
D
Shortage of jobs in the market

In India, which organization is responsible for estimating national income?

A
Reserve Bank of India (RBI)
B
Central Statistical Organisation (CSO)
C
NITI Aayog
D
Ministry of Finance

Which of the following is not a characteristic of a 'mixed economy'?

A
Maximizing profit
B
Government participation
C
Free market
D
Both private and public sectors