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Question (1)

QN0026052

A technician operates a bulldozer for a construction company and receives a monthly salary. This activity is classified as:

(A) Non-economic activity
(B) Economic activity
(C) Community service
(D) Household activity

Correct Answer: B

Explanation:

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Question (2)

QN0026053

A person employed in a post office receives a fixed monthly payment. This payment is called:

(A) Wage
(B) Fee
(C) Salary
(D) Bonus

Correct Answer: C

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Question (3)

QN0026054

A teacher conducts online classes and charges students every week. The amount charged is known as:

(A) Salary
(B) Fee
(C) Wage
(D) Reward

Correct Answer: B

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Question (4)

QN0026055

A farm labourer receives ₹300 in cash and mangoes worth ₹200 for a day's work. What is the total value of payment received?

(A) ₹300
(B) ₹200
(C) ₹400
(D) ₹500

Correct Answer: D

Explanation:

Total payment = ₹300 + ₹200 = ₹500

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Question (5)

QN0026056

Payment received in the form of goods instead of money is called:

(A) Salary
(B) Wage
(C) Payment in kind
(D) Incentive

Correct Answer: C

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Question (6)

QN0026057

A worker receives ₹450 in cash and vegetables worth ₹150. What percentage of the total payment is received in kind?

(A) 20%
(B) 25%
(C) 30%
(D) 35%

Correct Answer: B

Explanation:

Total = ₹600, In-kind = ₹150, Percentage = 25%

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Question (7)

QN0026058

Which of the following best defines an economic activity?

(A) Any activity done for enjoyment
(B) Any activity involving money or money’s worth
(C) Any activity done at home
(D) Any activity involving family members

Correct Answer: B

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Question (8)

QN0026059

A carpenter buys wood for ₹700 and sells a table for ₹1,150. What value has been added?

(A) ₹350
(B) ₹400
(C) ₹450
(D) ₹500

Correct Answer: C

Explanation:

Value added = ₹1150 − ₹700 = ₹450

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Question (9)

QN0026060

The value addition by a carpenter represents the value of:

(A) Only raw materials
(B) Only transport cost
(C) Skill, time and effort
(D) Government tax

Correct Answer: C

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Question (10)

QN0026061

A labourer earns ₹600 daily for 25 days in a month. What is the total wage earned?

(A) ₹12,000
(B) ₹13,500
(C) ₹15,000
(D) ₹16,000

Correct Answer: C

Explanation:

₹600 × 25 = ₹15,000

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Question (1)

A technician operates a bulldozer for a construction company and receives a monthly salary. This activity is classified as:

Explanation:

Link:

Question (2)

A person employed in a post office receives a fixed monthly payment. This payment is called:

Explanation:

Link:

Question (3)

A teacher conducts online classes and charges students every week. The amount charged is known as:

Explanation:

Link:

Question (4)

A farm labourer receives ₹300 in cash and mangoes worth ₹200 for a day's work. What is the total value of payment received?

Explanation:

Link:

Question (5)

Payment received in the form of goods instead of money is called:

Explanation:

Link:

Question (6)

A worker receives ₹450 in cash and vegetables worth ₹150. What percentage of the total payment is received in kind?

Explanation:

Link:

Question (7)

Which of the following best defines an economic activity?

Explanation:

Link:

Question (8)

A carpenter buys wood for ₹700 and sells a table for ₹1,150. What value has been added?

Explanation:

Link:

Question (9)

The value addition by a carpenter represents the value of:

Explanation:

Link:

Question (10)

A labourer earns ₹600 daily for 25 days in a month. What is the total wage earned?

Explanation:

Link:

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