One Mark Questions & Answers
1. Branches of the subject Economics is Micro and Macro
2. Who coined the word Macro ? Ragnar Frisch
3. Father of Modern Macro Economics J M Keynes.
4. Other name for Macro Economics - Income Theory.
5. Macro – economics is a study of aggregates.
6. Contribution of J M Keynes to economics – General Theory.
7. A steady increase in general price level is Inflation.
8. The Necessity of Economics Policies all the above.
9. Fundamental economic activities of an economy Production and Consumption.
10. An economy consists of All the above.
11. The economic system where only private ownership of production exists. Capitalistic Economy.
12. Economic system representing equality in distribution is Socialism.
13. Father of Capitalism Adam Smith.
14. The Country following Capitalism is America.
15. The Father of Socialism Karl Marx.
16. An Economic System where both private and public work together is termed as Mixed Economy.
17. Quantity of Commodity accumulated at a point of time is termed as Stock.
18. The flow variable Income.
19. Two sector Model Households and Firms.
20. The Circular Flow Model that represents an open Economy Four Sector Model.
21. Net National product at factor cost is National Income.
22. Primary sector is Agriculture.
23. National income is measured by using Three methods.
24. Income method is measured by summing up of all form of Income.
25. Which is the largest figure? GNP
26. Expenditure method is used to estimate national income in Construction sector.
27. Tertiary sector is also called as Service Sector.
28. National income is a measure of the Economic performance of an economy.
12th class|ECONOMICS | LEARNING MATERIAL |2024
0 கருத்துகள்