Economics Class 10 Previous Year MCQs with Answers | CBSE Board Exam Prep
bySomesh Kumar Satpathy•
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This blog brings you a curated set of previous year multiple choice questions to help you revise smarter.
Each question is designed to test your understanding of key concepts like globalization, development, and credit.
Perfect for quick practice before exams or board prep.
Let’s boost your confidence with real exam-level questions!
Class 10 Geography - Previous Year MCQs
Multiple Choice Questions with Answers
1. Which one of the following is included in 'liberalization'?
(A) Promoting trade barriers
(B) Removing trade barriers
(C) Controlling trade
(D) Increasing duties
Answer: (B) Removing trade barriers
2. Match the following aspects related to globalization:
List-I (Global Aspect)
List-II (Description)
I. Technological Advancement
a. Interaction of ideas, values and traditions
II. Liberalization of Trade
b. Companies operating in many countries
III. Cultural Exchange
c. Innovation in manufacturing, communication and information
IV. Multinational Corporations
d. The removal of restriction on trade
Options I II III IV
(A) a b c d
(B) c d a b
(C) d c b a
(D) b a d c
Answer: (B)
3. What is the primary purpose of the loan activities of banks?
(A) Compete with other institutions
(B) Earn profits for the primary sector
(C) Increase income of MNCs
(D) Support economic growth and development of the country
Answer: (D) Support economic growth and development of the country
4. Which one of the following institutions supervises the formal sources of loan in India?
(A) Reserve Bank of India (RBI)
(B) State Bank of India (SBI)
(C) National Development Council (NDC)
(D) National Finance Corporation (NFC)
Answer: (A) Reserve Bank of India (RBI)
5. Why do lenders require collateral?
(A) To lower interest rates
(B) To promote personal relations
(C) To increase profits
(D) To mitigate risk of default
Answer: (D) To mitigate risk of default
6. Removing barriers or restrictions on business/trade set by the government is known as:
(A) Disinvestment
(B) Special Economic Zone
(C) Liberalisation
(D) Foreign Direct Investment
Answer: (C) Liberalisation
7. Which one of the following is the correct definition of 'Literacy Rate'?
(A) Total literate population of the world
(B) Proportion of literate population in age group of 7 years and above
(C) Total number of children going to school
(D) Average number of schools in a country
Answer: (B) Proportion of literate population in age group of 7 years and above
8. Which one of the following is a significant aspect of globalisation?
(A) Uniform Culture
(B) Support to Environment
(C) Expansion of Domestic Market
(D) Creation of New Markets
Answer: (D) Creation of New Markets
9. Human Development Report published by UNDP is based on:
(A) Manufacturing, Infrastructure and Health
(B) Education, Health and Per Capita Income
(C) National Income, Health and Banking
(D) Gross Domestic Product, Technology and Innovation
Answer: (B) Education, Health and Per Capita Income
10. Which one of the following sectors contributes the maximum share to GDP in India?
(A) Primary
(B) Secondary
(C) Tertiary
(D) Quaternary
Answer: (C) Tertiary
11. Which one of the following sectors does floriculture belong to?
(A) Primary
(B) Secondary
(C) Tertiary
(D) Quaternary
Answer: (A) Primary
12. Body Mass Index (BMI) is used to assess:
(A) Blood Pressure
(B) Blood Sugar
(C) Body Composition
(D) Under Nutrition
Answer: (D) Under Nutrition
13. Study the data given below and answer the question that follows: Weekly Income of Families:
Family A – ₹2000, Family B – ₹5000, Family C – ₹3000, Family D – ₹6000
What is the average weekly income of these families?
(A) ₹4000
(B) ₹5000
(C) ₹2000
(D) ₹1000
Answer: (A) ₹4000
14. Literacy Rate measures the proportion of literate population in which one of the following age groups?
(A) 10 years and above
(B) 7 years and above
(C) 5 years and above
(D) 8 years and above
Answer: (B) 7 years and above
15. Which of the following are developmental goals of a prosperous farmer from Punjab?
I. Better wages for workers
II. Higher support prices for crops
III. High family income through dairying
IV. More days of work for family
(A) I, II
(B) II, IV
(C) II, III
(D) I, IV
Answer: (C) II, III
16. Which one of the following is the priority index used by the World Bank for measuring development?
(A) Infant Mortality Rate
(B) Equality
(C) Body Mass Index
(D) Per Capita Income
Answer: (D) Per Capita Income
17. Study the data given below and answer the question that follows: Income of a Family:
Mother – ₹50,000, Father – ₹40,000, Son – ₹20,000, Daughter – ₹20,000
What is the average income of the family members?
(A) ₹32,000
(B) ₹30,000
(C) ₹32,500
(D) ₹33,000
Answer: (C) ₹32,500
18. Which one of the following is a formal source of loan in India?
(A) Friends
(B) Money-lenders
(C) Banks
(D) Relatives
Answer: (C) Banks
19. Which of the following are formal sources of credit in India?
I. Bank
II. Moneylender
III. Cooperatives
IV. Businessman
(A) I, II
(B) II, III
(C) I, III
(D) I, IV
Answer: (C) I, III
20. Which one of the following is included in 'liberalization'?
(A) Promoting trade barriers
(B) Removing trade barriers
(C) Controlling trade
(D) Increasing duties
Answer: (B) Removing trade barriers
21. A farmer borrows loan first from a moneylender, then from a bank. What role does the bank play here?
(A) Cooperative lender
(B) Debt-trap facilitator
(C) Fair exchange
(D) Saves from debt-trap
Answer: (D) Saves from debt-trap
22. What does the term 'Globalization' mean?
(A) Remove tax barriers on goods
(B) Higher standard of living
(C) Rapid integration of countries
(D) Attract foreign companies
Answer: (C) Rapid integration of countries
23. Study the given situation and choose the correct option: Salim took credit to buy seeds and fertilizers for his crops. This led to higher production and more income. What was the impact of credit on Salim?