B. revenue expenditure − revenue receipts

B. total expenditure − borrowings

C. capital receipts − revenue receipts

Class 12 Economics: Government Budget and the Economy — Chapter Test 1

Class 12 • Economics • Government Budget and the Economy • Chapter Test

MediumFREE

Questions

20 min

Duration

Marks (1 each)

Negative marking

Original practice questions with full solutions by ExamPortal.

Instructions

• Read each question carefully and pick the correct answer.
• You can mark questions for review and come back to them.
• Answers are saved automatically.
• The test is submitted automatically when time runs out.

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SYLLABUS & QUESTION BLUEPRINT

Sample Practice Questions

Preview 5 sample questions from this 15-question test. Test your knowledge below or take the full exam in timed CBT mode.

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Question 1 of 15

A government budget is a statement of estimated:

receipts and expenditures for a financial year

profits of companies

population

exports only

View Correct Answer & Step-by-Step Solution

Correct Option:(A)receipts and expenditures for a financial year

Detailed explanation is available inside the official test attempt review.

Question 2 of 15

Revenue receipts:

create liabilities

neither create liabilities nor reduce assets

reduce assets

are borrowings

View Correct Answer & Step-by-Step Solution

Correct Option:(B)neither create liabilities nor reduce assets

Detailed explanation is available inside the official test attempt review.

Question 3 of 15

Which is a capital receipt?

income tax

borrowings

GST

fees

View Correct Answer & Step-by-Step Solution

Correct Option:(B)borrowings

Detailed explanation is available inside the official test attempt review.

Question 4 of 15

Fiscal deficit =

total expenditure − total receipts excluding borrowings

revenue expenditure − revenue receipts

fiscal deficit − interest

exports − imports

View Correct Answer & Step-by-Step Solution

Correct Option:(A)total expenditure − total receipts excluding borrowings

Detailed explanation is available inside the official test attempt review.

Question 5 of 15

Revenue deficit =

revenue expenditure − revenue receipts

total expenditure − borrowings

capital receipts − revenue receipts

fiscal deficit − interest

View Correct Answer & Step-by-Step Solution

Correct Option:(A)revenue expenditure − revenue receipts

Detailed explanation is available inside the official test attempt review.

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Frequently asked questions

How many questions are there in Class 12 Economics: Government Budget and the Economy — Chapter Test 1?

There are 15 questions to answer in 20 min. Each correct answer gives 1 mark, for a total of 15 marks.

Is there negative marking?

No. Wrong answers do not lose marks, so attempt every question.

Is this mock test free?

Yes, it is completely free. Just log in with your email to start.

What does this test cover?

It covers the chapter "Government Budget and the Economy" of Class 12 Economics. All questions are original, with a full solution for each.

Will I see my result and the solutions?

Yes. Right after you submit you get your score, accuracy, rank and percentile, and you can review every question with the correct answer and a step-by-step explanation.

Can I take this test again?

Yes, you can retake it as many times as you like and compare your scores.