MCQ Questions

Question No. 1

Fill in the blanks.

Answer :

a) A constitution tells us how the government will _________, what powers different leaders and institutions will have, and what rights and duties the citizens enjoy.

b) India’s Constitution is the __________ written constitution in the world.

c) The task of preparing the first draft of the Constitution was given to a __________ Committee.

d) The Constitution of India was finalised on __________ November, 1949.

e) The idea of Fundamental Duties, included in our Constitution, draws from Indian traditions that stress _________ alongside rights.

f) The voting age was reduced from 21 to 18 years by the __________ Amendment in 1988.

g) The Preamble explains the vision and values on which our country is built, including justice, liberty, equality, and __________.

Question No. 2

Write True or False.

Answer :

a) Retailers usually buy goods from wholesalers.

b) The FSSAI mark is used for electronic appliances.

c) Online markets require buyers and sellers to meet in person.

d) A price ceiling helps keep essential goods affordable.

e) Consumers cannot check product quality in any way.

f) Public goods like roads are provided by the government.

g) Markets never affect social relationships.

Question No. 3

Answer the following questions in short.

Answer :

b) Why are markets important for people’s daily lives?

f) How can consumers check the quality of products they buy

c)How is the market price decided?

e) What role does the government play in controlling prices?

g) What is the meaning of the term 'public goods'?

a) What are the key features of a market?

d) Name the two types of physical markets.

Question No. 4

Answer the following questions in long.

Answer :

f) Public goods like roads are provided by the government.

g) Markets never affect social relationships.

b) Describe the journey of money from coins to digital payments.

d) A price ceiling helps keep essential goods affordable.

e) Consumers cannot check product quality in any way.

a) Explain the major problems of the barter system with examples.

c) How has the invention of money helped to solve the problems of trade?

Question No. 5

Match the following:

Answer :

Question No. 6

Which of these is a government-approved food safety mark?

Answer :

AGMARK

ISI

FSSAI

BEE

Question No. 7

Who does not usually sell directly to consumers?

Answer :

Retailer

Wholesaler

Shopkeeper

Online seller

Question No. 8

Which market deals in imports and exports?

Answer :

Retail market

Domestic market

Wholesale market

International market

Question No. 9

What is a market?

Answer :

A bank

A place to study

A place to buy and sell goods

A place to vote

Question No. 10

Which of the following is a digital market?

Answer :

Weekly haat

Shopping mall

Grocery store

Online shopping app

Question No. 11

The final agreed-upon price after bargaining is called:

Answer :

Selling price

Maximum retail price

Market price

Cost price

Question No. 12

What does BEE Star Rating help as in knowing?

Answer :

Energy efficiency

Food safety

Product design

Price fixing

Question No. 13

Which market deals in imports and exports?

Answer :

Retail market

Domestic market

Wholesale market

International market

Chapter

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