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Economics Chapter 2 Class 10 MCQ. We covered all the Economics Chapter 2 Class 10 MCQ in this post for free so that you can practice well for the exam.
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MCQ on Economics for Students
Quick Quiz
Factor relate to the exchange :
1. Production
2. Markets
3. Consumption
4. Distribution
Option 2 – Markets
Human wants are : ( Economics Chapter 2 Class 10 MCQ )
1. Limited
2. Unlimited
3. Easily fulfilled
4. Absent
Option 2 – Unlimited
Private goods :
1. Library
2. Radio
3. Rail
4. Park
Option 3 – Rail
Which is not Luxury good : ( Economics Chapter 2 Class 10 MCQ )
1. Air Journey
2. Air condition
3. Clothes
4. Cinema
Option 3 – Clothes
Goods which satisfy human wants directly :
1. Consumer goods
2. Capital goods
3. Intermediary goods
4. None of the above
Option 1 – Consumer goods
Bicycle to the post man is : ( Economics Chapter 2 Class 10 MCQ )
1. Luxury
2. Need
3. Comfort
4. None
Option 2 – Need
Factors that contribute to the production of goods
1. Factors of production
2. Industrialists
3. Government
4. Markets
Option 1 – Factors of production
National Income : ( Economics Chapter 2 Class 10 MCQ )
1. Nation’s annual income
2. Nation’s monthly income
3. Incomes of the states
4. Persons annual income
Option 1 – Nation’s annual income
Products of the small scale industries
1. Rails
2. Dams
3. Bags
4. Cinema halls
Option 3 – Bags
Services of the doctors received by : ( Economics Chapter 2 Class 10 MCQ )
1. Students
2. Patients
3. Govt. officials
4. Senior citizens
Option 2 – Patients
Production made by the formers
1. Oil seeds
2. Iron ore
3. Cement
4. Projects
Option 1 – Oil seeds
For Controlling population growth it is essential to introduce ( Economics Chapter 2 Class 10 MCQ )
1. Land reforms
2. Urban projects
3. Family planning
4. Per capita income
Option 3 – Family planning
It is used to measure poverty
1. Poverty line
2. Markets
4. Per capita income
Option 1 – Poverty line
In order to rise per capita income, along with rise in National income, population must be ( Economics Chapter 2 Class 10 MCQ )
1. Rising
2. Falling
3. Unchanged
4. Lower
Option 2 – Falling
During 2002-2003 NNP income was? (Rupees)
1. 20,03,282
2. 15,90,212
3. 17.04,719
4. 25,31,223
Option 1 – 20,03,282
An important factor in promoting skills and efficiency ( Economics Chapter 2 Class 10 MCQ )
1. Environment
2. Housing fertility
3. Health
4. Education
Option 4 – Education
Before the arrival the British, Indian villages were
1. self sufficient
2. dependent on foreign aid
3. not self sufficient
4. backward in all fields
Option 1 – self sufficient
The concept of Economic Drain was introduced by ( Economics Chapter 2 Class 10 MCQ )
1. Dadabai Nauroji
2. D.R. Gadgil
3. Sen Gupta
4. Mahal Nobis
Option 2 – D.R. Gadgil
The book ‘Poverty of India’ was written by :
1. T.T. Krishnamachari
2. Adam Smith
3. John Keynes
4. Dadabai Nauroji
Option 4 – Dadabai Nauroji
The percentage of the total India’s population depending on agricultural sector is ( Economics Chapter 2 Class 10 MCQ )
1. 55
2. 60
3. 64
4. 70
Option 4 – 70
Which of the following comes under “unorganised sector”?
1. automobile industry
2. handloom industry
3. chemical industry
4. manufacture of engineering goods
Option 2 – handloom industry
South-West monsoon season in India is ( Economics Chapter 2 Class 10 MCQ )
1. from January to May
2. from June to September
3. from October to December
4. from March to June
Option 2 – from June to September
One of the largest rice producing states is
1. Kerala
2. Andhra Pradesh
3. Gujarat
4. Punjab
Option 2 – Andhra Pradesh
Zamindari system was introduced by ( Economics Chapter 2 Class 10 MCQ )
1. Lord Cornwallis
2. Robert Clive
3. Lord Bentinck
4. Lord Dalhousie
Option 1 – Lord Cornwallis
Mahalwari system was in practice in
1. Coorg
2. Agra
3. Orissa
4. Andhra Pradesh
Option 2 – Agra
The major Kharif crop is ( Economics Chapter 2 Class 10 MCQ )
1. Rice
2. Wheat
3. Grain
4. Groundnut
Option 1 – Rice
Which of the following is an unearned income? ( Economics Chapter 2 Class 10 MCQ )
1. income from property
2. daily wages
4. monthly salary
Option 1 – income from property
India has adopted
1. capitalist economic system
2. mixed economic system
3. socialist economic system
4. none of the three economic systems
Option 2 – mixed economic system
The economic system in which public and private sectors exist is called ( Economics Chapter 2 Class 10 MCQ )
1. socialist economic system
2. capitalist economic system
3. mixed economic system
4. none of them
Option 3 – mixed economic system
The country that enjoys the socialist economic system
1. U.S.A
2. U.K
3. India
4. China
Option 4 – China
The person who made the classification of Economics ( Economics Chapter 2 Class 10 MCQ )
1. Adam Smith
2. Ragner Frisch
3. Amarthya Sen
4. Marshall
Option 2 – Ragner Frisch
Macro Economics gives importance to
1. Price theory
2. Profit and Loss
3. Welfare
4. National income
Option 4 – National income
The economist who viewed economics as a science dealing with wealth ( Economics Chapter 2 Class 10 MCQ )
1. Recardo
2. Robbins
3. Adam Smith
4. Amarthya Sen
Option 3 – Adam Smith
It is treated as queen of social sciences :
1. Economics
2. History
3. Civics
4. Geography
Option 3 – Civics
Which is not a factors of production
1. Land
2. Labour
3. Car
4. Capital
Option 3 – Car
Capital means :
1. Natures wealth
2. Goods and Services
3. Organisation
4. Buildings and Machinery
Option 4 – Buildings and Machinery
Utility type by stitch a shirt :
1. Form
2. time
3. collective
4. place
Option 1 – Form
In the Union Budget in India, which one of the following is the largest in amount?
A) Plan Expenditure
B) Non-Plan Expenditure
C) Revenue Expenditure
D) Capital Expenditure
Option c – Revenue Expenditure
What is the effect of deficit financing on the economy?
A) Reduction in taxes
B) Increase in wages
C) Increase in money supply
D) Decrease in money supply
Option c – Increase in money supply
Consider the following: 1. Market borrowing 2. Treasury bills 3. Special securities issued to RBI. Which of these is/are component(s) of internal debt?
A) Only 1
B) Only 1 and 2
C) Only 2
D) 1, 2 and 3
Option d – 1, 2 and 3
In the Budget of the Government of India, Fiscal deficit less interest payment means
A) Deficit financing
B) Budget deficit
C) Fiscal deficit
D) Primary deficit
Option d – Primary deficit
Fiscal deficit implies
A) Total expenditure (Revenue receipts + Recovery of Loans + Receipts from disinvestment)
B) Total expenditure – Total receipts
C) Total expenditure (Revenue receipts + Receipts from disinvestment)
D) Total expenditure – Disinvestment receipts
Option a – Total expenditure (Revenue receipts + Recovery of Loans + Receipts from disinvestment)
The largest item of expenditure in the current account of the Central Government budget is
A) Defence expenditure
B) Subsidies
C) Interest payment
D) Expenditure on social services
Option c – Interest payment
The largest item of public expenditure in the Union Budget in recent years has been
A) Defence expenditure
B) Interest payments
C) Major subsidies
D) Capital expenditure
Option b – Interest payments
Which one of the following forms the largest share of the deficit in the Govt. of India budget?
A) Primary deficit
B) Fiscal deficit
C) Revenue deficit
D) Budgetary deficit
Option b – Fiscal deficit
Which of the following deficits gives a major contribution to the total deficit of the Government of India?
A) Revenue deficit
B) Budgetary deficit
C) Fiscal deficit
D) Primary deficit
Option c – Fiscal deficit
Rapid growth of towns is called:
1. Urbanisation
2. Civilization
3. Ruralisation
4. None of these
Option 1 – Urbanisation
Mahalanobis committee studied on
1. Distribution of income and levels of living
2. Social forestry
3. Panchayat Raj system
4. Wildlife
Option 1 – Distribution of income and levels of living
The characteristic of Indian rainfall is:
1. Not uniform all over the country
2. Insufficient for cultivation
3. Uniform all over the country
4. Causing floods in North-Eastern states
Option 1 – Not uniform all over the country
The privileged social classes created by the British through legislation was:
1. Collectors
2. Revenue Officers
3. Zamindars
4. None of these
Option 3 – Zamindars
The system in which people hold single independent holdings is:
1. Zamindari system
2. Mahalwari system
3. Ryotwari system
4. Community system
Option 3 – Ryotwari system
The system in which the land group belonged to a small of families who were the most powerful in their region is
1. the Mahalwari system
2. the Zamindari system
3. the Ryotwari system
4. None of the above
Option 1 – the Mahalwari system
The most important reason for the inequality incomes is:
1. The ownership of property
2. High education among people
3. Monthly Salaries
4. Daily wages
Option 1 – The ownership of property
The objective of the abolition of Zamindari and other systems was to restore the land
1. to the original owner
2. to the original tiller
3. to the government
4. to the entire society
Option 2 – to the original tiller
In 1991 the rural population in India in millions was
1. 524
2. 710
3. 439
4. 629
Option 4 – 629
The income earned from wealth property is called
1. earned income
2. unearned income
3. received income
4. earned and unearned income
Option 2 – unearned income
The country that enjoys the socialist economic system
1. USA
2. UK
3. India
4. China
Option 4 – China
Lorenz Curve shows
1. The unequal distribution of income in a country
2. The percentage of people who are under the poverty line
3. The rate of growth of the population
4. The literacy rate of a country
Option 1 – The unequal distribution of income in a country
If the means of production are in the control of private individuals, it is
1. Joint sector
2. Mixed economy
3. Socialist economy
4. Capitalist economy
Option 4 – Capitalist economy
China and East European economies fall into category
1. Capitalist economy
2. Mixed economy
3. Socialist economy
4. None of these
Option 3 – Socialist economy
The East India company captured political power in
1. 1600
2. 1775
3. 1757
4. 1737
Option 3 – 1757
The income earned from labour or work is called as
1. Earned income
2. Un-earned income
3. National product
4. GNP per-capita
Option 1 – Earned income
Indian economy is ( Class 9 Chapter 1 Economics MCQ )
1. a mixed economy
2. a capitalistic economy
3. a socialistic economy
4. none of these
Option 1 – a mixed economy
Supply and demand forces determine the level of prices in this system
1. Capitalistic economic system
2. Socialistic economy system
3. Communistic economic system
4. Mixed economic system
Option 1 – Capitalistic economic system
The per capita income of high-income groups is
1. below 765 dollars
2.890 dollars
3. more than 9386 dollars
4. more than 10,000 dollars
Option 3 – more than 9386 dollars
The country’s development is determined by
1. Gross National Product
2. Net National Product
3. Per Capita Income
4. Trade balance
Option 3 – Per Capita Income
Poverty is defined as:
1. the low production of food crops
2. the increasing of prices
3. the low production of industrial goods
4. the state in which basic needs are not met with
Option 4 – the state in which basic needs are not met with
If a person does not get the minimum required quantities of grain, pulses, milk etc., it is called :
1. relative poverty
2. absolute poverty
3. poverty line
4. wilful poverty
Option 2 – absolute poverty
One poverty eradication programme is
1. State Finance Corporation Scheme
2. National literacy program
3. Green revolution
4. Integrated Rural Development Programme
Option 4 – Integrated Rural Development Programme
The disguised unemployment is seen in
1. Industries
2. tiny sector
3. agriculture
4. trade and commerce
Option 3 – agriculture
According to National sample survey the under employed are those working for less than
1. 25 hours a week
2. 42 hours a week
3. 18 hours a week
4. 14 hours a week
Option 4 – 14 hours a week
Which of the following is a port city
1. Hyderabad
2. Nagpur
3. Kolkata
4. Ahmedabad
Option 3 – Kolkata
The State that ranks first in agricultural development is
1. Haryana
2. Andhra Pradesh
3. Punjab
4. Himachal Pradesh
Option 3 – Punjab
The state that ranks first in industrial development is
1. Maharashtra
2. West Bengal
3. Gujarat
4. Rajasthan
Option 1 – Maharashtra
The country that enjoys the capitalist economic system
1. U.S.A
2. Russia
3. China
4. India
Option 1 – U.S.A
The country that enjoys a mixed economic system
1. USA
2. Russia
3. India
4. England
Option 3 – India
Indian economy is mainly:
1. an Agricultural economy
2. an Industrial economy
3. an Export oriented economy
4. a Socialist economy
Option 1 – an Agricultural economy
During 17th and 18th centuries one of the largest customers of Indian products was:
1. Africa
2. South America
3. Australia
4. Europe
Option 4 – Europe
Industrial Revolution started in this country
1. Italy
2. England
3. France
4. Germany
Option 2 – England
India remained an underdeveloped country because of
1. Its dependence on agriculture
2. the lack of industries
3. the shortage of raw materials
4. the shortage of mineral resources
Option 1 – Its dependence on agriculture
One of the largest wheat-producing states in India is:
1. Andhra Pradesh
2. Gujarat
3. Punjab
4. Maharashtra
Option 3 – Punjab
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