Free Post Independence 01 Practice Test - 12th Grade - Commerce
Question 1
In which mode of production are market forces of supply and demand the key players?
Capitalist
Socialist
Fascist
Communist
SOLUTION
Solution : A
In capitalist economy, market is the main determinant of the economy.
Question 2
Who organised into a Communist Party in the Russian Revolution?
The industrialists
The doctors
The workers
The politicians
SOLUTION
Solution : C
The Russian revolution was led by the Communist Party which comprised the workers/labourers.
Question 3
What was the term of the plans developed by the Soviet State?
3 years
5 years
7 years
10 years
SOLUTION
Solution : B
The plans were five-year plans (FYP).
Question 4
In the development model of USA and Britain, one the biggest innovations was in the sector of:
Transport
Infrastructure
Health
Finance
SOLUTION
Solution : D
Finance witnessed some of the greatest revolutions in the western nations.
Question 5
Which of the following are some effects of the Green Revolution?
Landlessness
Increased inequality
Better crops
All of the above
SOLUTION
Solution : D
All the above are effects of the Green Revolution.
Question 6
Which is the central monetary authority of India?
Reserve Bank of India
State Bank of India
Life Insurance Corporation
Securities and Exchange Board of India
SOLUTION
Solution : A
RBI is the central banker of India.
Question 7
What did “Land to the Tiller” policy offer that made it efficient?
Money
Inputs
Incentive
Better land
SOLUTION
Solution : C
Here, the farmer had an incentive to increase productivity of the land because it was his/her own.
Question 8
The fifth plan, which was launched in Indira Gandhi’s regime, laid focus on:
Unemployment
Poverty
Malnourishment
Education
SOLUTION
Solution : B
Eradication of poverty was the main goal of the fifth plan.
Question 9
The theory whereby nascent industries in the country remain protected from external competition with the help of tools like tariffs and quotas is called
SOLUTION
Solution :The Infant Industry Argument argues that nascent industries in the country should remain protected from external competition with the help of tools like tariffs and quotas
Question 10
Focus of the second FYP rested on which of the following?
Small-scale industries
Micro-enterprises
Medium enterprises
Heavy industries
SOLUTION
Solution : D
Focus of the second FYP rested on heavy industries.