Maharashtra State BoardHSC Science (General) 11th
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Question Bank Solutions for HSC Science (General) 11th - Maharashtra State Board - Economics

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Economics
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Choose the correct option:

Statements related to Economics

a) Economics is a social science.

b) Concept of economics is derived from Greek word ‘Oikonomia’.

c) Economics is related to the study of human economic behavior.

d) Economics is related to management of the household

[0.01] Basic Concepts in Economics
Chapter: [0.01] Basic Concepts in Economics
Concept: Basic Concepts in Economics

Choose the correct option:

Statements incorrect with reference to Adam Smith's definition

a) Adam Smith is a classical economist.

b) Wealth of Nations is authored by Adam Smith.

c) Economics is the science of wealth.

d) Economics studies common man.

[0.01] Basic Concepts in Economics
Chapter: [0.01] Basic Concepts in Economics
Concept: Basic Concepts in Economics

Choose the correct option:

Key points in Lionel Robbins' definition 

a) Wants are unlimited

b) Means are limited

c) Wants are not gradable

d) Means have alternative uses.

[0.01] Basic Concepts in Economics
Chapter: [0.01] Basic Concepts in Economics
Concept: Basic Concepts in Economics

Complete the correlation :

Arthshastra : Kautilya : : Wealth of Nations :______________

[0.01] Basic Concepts in Economics
Chapter: [0.01] Basic Concepts in Economics
Concept: Basic Concepts in Economics

Choose the correct option :

Statements that are true about the Planning Commission

a) Planning Commission was established in 1950.

b) The Prime Minister is the Ex-Officio Chairman of the Planning Commission.

c) Economic planning is a time bound programme.

d) Economic planning is based on predetermined objectives.

[0.1] Economic Planning in India
Chapter: [0.1] Economic Planning in India
Concept: Economic Planning in India

Give economic term:

Conscious and deliberate choice of economic priorities by some public authority.

[0.1] Economic Planning in India
Chapter: [0.1] Economic Planning in India
Concept: Economic Planning in India

Identify and explain the concept from the given illustration:

sayali’s mother maintains a book of accounts for household purpose and plans the expenditure accordingly.

[0.1] Economic Planning in India
Chapter: [0.1] Economic Planning in India
Concept: Economic Planning in India

Identify and explain the concept from the given illustration:

To solve classroom related issues, the teacher forms a group of student, this group discusses the problem and find a solution to it.

[0.1] Economic Planning in India
Chapter: [0.1] Economic Planning in India
Concept: Economic Planning in India

Answer the following question:

Explain the features of Economic Planning

[0.1] Economic Planning in India
Chapter: [0.1] Economic Planning in India
Concept: Economic Planning in India

Read the following passage and answer the questions given below:

The Finance Minister of the Central Government presents the Union Budget before the Parliament during the month of February every year. The budget, also referred to as the annual financial statement reflects the estimated receipts and expenditure of the government for a particular financial year that begins on the 1st of April and ends on 31st March. Changes in the tax structure are suggested in the budget. Besides this, provisions are also made for allocating expenditure on defence, education, research, and development, etc. The date for presenting the budget has been shifted to the 1st of February every year. This enables the generation of funds well in advance prior to the commencement of the financial year.

1) Where is the Union Budget usually presented?

2) What all aspects are considered while preparing the budget?

3) Why is the date for presenting the budget shifted to the 1st of February?

4) Explain the term 'budget'.

[0.1] Economic Planning in India
Chapter: [0.1] Economic Planning in India
Concept: Economic Planning in India

Complete the following statement by choosing the correct alternative :

After Independence, India had adopted________

[0.09] Economic Policy of India since 1991
Chapter: [0.09] Economic Policy of India since 1991
Concept: Economic Policy of India since 1991

Complete the following statement by choosing the correct alternative :

At present, the number of industries reserved for the public sector has been reduced to_________

[0.09] Economic Policy of India since 1991
Chapter: [0.09] Economic Policy of India since 1991
Concept: Economic Policy of India since 1991

Assertion and Reasoning type of question:

Assertion (A): In 1990-91, India faced an acute shortage of foreign exchange reserves.

Reasoning (R): Import quotas and tariffs led to an increase in imports.

[0.09] Economic Policy of India since 1991
Chapter: [0.09] Economic Policy of India since 1991
Concept: Economic Policy of India since 1991

Read the following passage and answer the questions given below:

Indian ice-cream industry is one of the fastest-growing segments of the dairy and food processing sector. India has a low per capita consumption of ice-cream of 400 ml whereas in the USA it is 22,000 ml and in China, it is 3000 ml.
    The per capita consumption of ice-cream is low in India because it is a country filled with traditional sweets of more than 100 varieties. In developed countries, people have either pastries or ice-creams for dessert. In the era of Globalisation, the mindset of the people is fast changing. This is because multi-national companies have set up a number of ice-cream parlours, with a lot more varieties and flavours that attract the younger lot. Besides this, there are better delivery systems.
     The ice-cream sector has great potential for growth in the country due to improvement in the cold chain infrastructure, increasing disposable income, and changing lifestyle of the people. However, it is taxed higher with 18 percent GST while other dairy products in the same basket such as butter and cheese are taxed at 12 percent.
The ice-cream industry has generated revenue of more than $1.5 billion in 2016-17. With an employment of 15 lakh people directly or indirectly, it is also considered one of the largest employers of the dairy and food processing industry.

1) Identify the reason for the low per capita consumption of ice-cream in India.

2) Explain the impact of Globalisation on the Indian ice-cream industry.

[0.09] Economic Policy of India since 1991
Chapter: [0.09] Economic Policy of India since 1991
Concept: Economic Policy of India since 1991

Choose the correct option:

Arrange in the order of evolution of money

  1. Metallic money
  2. Animal money
  3. Metallic coins
  4. Commodity money
[0.02] Money
Chapter: [0.02] Money
Concept: Money

Choose the correct option:

Arrange in the order of evolution of money

  1. Plastic money
  2. Paper money
  3. Electronic money
  4. Credit money
[0.02] Money
Chapter: [0.02] Money
Concept: Money

Complete the correlation

Barter system : Goods :: Modern economy :________ 

[0.02] Money
Chapter: [0.02] Money
Concept: Money

Suggest an economic term for the given statement:

The act of exchanging goods for goods - _________

[0.02] Money
Chapter: [0.02] Money
Concept: Money

Suggest an economic term for the given statement:

Provision of making payments in future- ________

[0.02] Money
Chapter: [0.02] Money
Concept: Money

Suggest an economic term for the given statement:

A system that makes use of currency for facilitating payments - _________

[0.02] Money
Chapter: [0.02] Money
Concept: Money
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Question Bank Solutions for HSC Science (General) 11th Maharashtra State Board Economics. You can further filter Question Bank Solutions by subjects and topics. Solutions for most of the questions for Maharashtra State Board can be found here on Shaalaa.com. You can use these solutions to prepare for your studies and ace in exams. Solving questions is a great way to practice and with Shaalaa.com, you can answer a question and then also check your answer with the solutions provided.
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