Prices and Cost of Living AP 9th Class Social Bits 10th Lesson

Prices and Cost of Living

AP 9th Class Social Bits 10th Lesson

Choose the correct answer.

Question 1.
Receipts are shown on the …………… side in the budget.
A) left hand
B) right hand
C) top
D) bottom
Answer:
A) left hand

Question 2.
The people of income, should limit their consumption during inflation.
A) variable
B) fixed
C) both A & B
D) none of the above
Answer:
B) fixed

Question 3.
The inflation affects the …………. of the people.
A) mind
B) status
C) standard of living
D) none of these
Answer:
C) standard of living

Question 4.
D. A is paid to the ………….
A) daily labourers
B) agricultural labourers
C) private employees
D) government employees
Answer:
D) government employees

Question 5.
Extremely rich persons working in ……………. sector do not get affected by rising prices.
A) corporate
B) public
C) private
D) primary
Answer:
A) corporate

Question 6.
…………… numbers tell us about changes in the sum total of a set of items over time.
A) Roman
B) Index
C) Roll
D) All the above
Answer:
B) Index

Question 7.
………….. includes all goods.
A) CPI
B) FPI
C) WPI
D) None of the above
Answer:
C) WPI

Question 8.
Under …………….., the government has assumed responsibility for the supply of essential commodities.
A) FCI
B) CPI
C) WPI
D) PDS
Answer:
D) PDS

Question 9.
The apex body for all the banks in India
A) RBI
B) CBI
C) HSBC
D) KVB
Answer:
A) RBI

Question 10.
When there is rise in price of food materials, ………………. of such goods are banded.
A) imports
B) exports
C) production
D) none of the above
Answer:
B) exports

Question 11.
Continuous rise in prices over a period is
A) Budget
B) Inflation
C) Economy
D) Regulation
Answer:
B) Inflation

Question 12.
…………… refers to quantity of material goods/services to comfortable life.
A) Cost of Living
B) Lifestyle
C) Standard of living
D) Pricing
Answer:
C) Standard of living

Question 13.
Price level in Andhra Pradesh is com-pared with Karnataka using
A) Price Index
B) Cost Index
C) State Index
D) Budget Index
Answer:
A) Price Index

Question 14.
Expand WPI
A) Water Price Index
B) Wall Price Index
C) Wholesale Price Index
D) Wholesale Paper Index
Answer:
C) Wholesale Price Index

Question 15.
Expand CPI
A) Central Price Index
B) City Price Index
C) Consumer Paper Index
D) Consumer Price Index
Answer:
D) Consumer Price Index

Question 16.
Expand FPI
A) Food Price Index
B) Food Paper Index
C) Farm Price Index
D) Foreign Property Index
Answer:
A) Food Price Index

Question 17.
Inflation is measured on the basis of changes in
A) CPI
B) FPI
C) WPI
D) All Indices
Answer:
C) WPI

Question 18.
DA to be paid for government employees is calculated using
A) WPI
B) FPI
C) All Indices
D) CPI
Answer:
D) CPI

Question 19.
Minimum Support Price (MSP) is decided by ……………
A) Government
B) RBI
C) FCI
D) Producers
Answer:
A) Government

Question 20.
Expand PDS
A) People Distribution Scheme
B) Public Distribution Scheme
C) Public Division Scheme
D) People Division Scheme
Answer:
B) Public Distribution Scheme

This is an example of how CPI can be constructed. Let us assume that your family buys rice, onions, dal, and gas cylinder.

Question 21.
How much more do we have to pay compared to last month?
A) Rs. 400
B) Rs. 350
C) Rs. 200
D) Rs. 100
Answer:
B) Rs. 350

Question 22.
What is the percentage of increase?
A) 44%
B) 50%
C) 23%
D) 16%
Answer:
C) 23%

Question 23.
Which of the following goods do not get the subsidy by the Government?
A) Food grains
B) LPG gas
C) Kerosene
D) Motor cycle
Answer:
D) Motor cycle

Question 24.
The ‘subsidies’ given by the government are meant to eradicate poverty. But these are misused. Suggest the deserved.
A) Rich people
B) MLAs & MPs
C) Poor people
D) None
Answer:
C) Poor people

Question 25.
Which of the following plays a crucial role in eradicating poverty?
A) School
B) Library
C) Police Stations
D) Banks
Answer:
A) School

Question 26.
Rising prices would not affect much on this group of people:
i) Corporate employees
ii) Agricultural labourers
iii) Extremely rich persons
A) i only
B) ii only
C) i and ii
D) i and iii
Answer:
D) i and iii

Question 27.
The food security of a nation mainly depends upon:
A) Technology sector
B) Industrial sector
C) Agriculture sector
D) Service sector
Answer:
C) Agriculture sector