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?

A.

Capitalist

B.

Socialist

C.

Fascist

D.

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?

A.

The industrialists

B.

The doctors

C.

The workers

D.

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?

A.

3 years

B.

5 years

C.

7 years

D.

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:

A.

Transport

B.

Infrastructure

C.

Health

D.

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?

A.

Landlessness

B.

Increased inequality

C.

Better crops

D.

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?

A.

Reserve Bank of India

B.

State Bank of India

C.

Life Insurance Corporation

D.

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?

A.

Money

B.

Inputs

C.

Incentive

D.

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:

A.

Unemployment

B.

Poverty

C.

Malnourishment

D.

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?

A.

Small-scale industries

B.

Micro-enterprises

C.

Medium enterprises

D.

Heavy industries

SOLUTION

Solution : D

Focus of the second FYP rested on heavy industries.

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