Economics & Consumer Education
Telangana Open School (TOSS) · Class 12 · Community Science (Home Science)
Practice quiz for Economics & Consumer Education — Telangana Open School (TOSS) Class 12 Community Science (Home Science). MCQs and questions with answers to test your preparation.
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Quick Quiz: Economics & Consumer Education
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What is the main purpose of studying consumer education?
Which of the following is an example of direct income?
Which type of income includes goods and services enjoyed by the family?
What is psychic income?
Sample Questions
Which of the following is a function of money?
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It acts as a medium of exchange
Money serves as a medium of exchange, allowing people to buy goods and services easily without barter.
Which of the following is an example of indirect income?
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Rent-free accommodation
Indirect income includes facilities like rent-free housing or free medical care that save money which would otherwise be spent.
What is a budget?
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An estimate of future income and expenditure
A budget is a plan that estimates future income and how it will be spent over a specific period.
Which of the following is part of money income?
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Wages or salary
Money income includes all cash earnings like wages, salary, rent, interest, and bonuses.
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