Monday, 22 February 2021

CBSE Class 11 Micro Economics - MCQ and Online Tests - Unit 1 - Introduction to Micro Economics

CBSE Class 11 Micro Economics – MCQ and Online Tests – Unit 1 – Introduction to Micro Economics

Every year CBSE schools conducts Annual Assessment exams for 6,7,8,9,11th standards. These exams are very competitive to all the students. So our website provides online tests for all the 6,7,8,9,11th standard’s subjects. These tests are also very effective and useful for those who preparing for any competitive exams like Olympiad etc. It can boost their preparation level and confidence level by attempting these chapter wise online tests.

These online tests are based on latest CBSE syllabus. While attempting these our students can identify the weak lessons and continuously practice those lessons for attaining high marks. It also helps to revise the NCERT textbooks thoroughly.


 

CBSE Class 11 Micro Economics – MCQ and Online Tests – Unit 1 – Introduction to Micro Economics

Question 1.
Who said, “Economics is a science of wealth.”
(a) Marshall
(b) Robbins
(c) Adam Smith
(d) J.K. Mehta

Answer

Answer: (c) Adam Smith


Question 2.
“Economics is a science of logic.’’ Who said it ?
(a) Hicks
(b) Keynes
(c) Robbins
(d) Marshall

Answer

Answer: (c) Robbins


Question 3.
Which of the following economic activities are included in the subject-matter of Economics?
(a) Economic Activities related to Unlimited Wants
(b) Economic Activities related to Limited Resources
(c) Both (a) and (b)
(d) None of these

Answer

Answer: (c) Both (a) and (b)


Question 4.
On which base structure of economic problems has been installed?
(a) Unlimited Wants
(b) Limited Resources
(c) Both (a) and (b)
(d) None of the above

Answer

Answer: (c) Both (a) and (b)


Question 5.
‘Micros’, which means ‘Small’ belongs to:
(a) Arabian word
(b) Greek word
(c) German word
(d) English word

Answer

Answer: (b) Greek word


Question 6.
Which of the following statement is true?
(a) Human wants are infinite
(b) Resources are limited
(c) Scarcity problem gives birth to choice .
(d) All of these

Answer

Answer: (c) Scarcity problem gives birth to choice


Question 7.
Which of the following is the salient feature of factors (or resources) ?
(a) These are limited as compared to wants
(b) These have alternative uses
(c) Both (a) and (b)
(d) None of the above

Answer

Answer: (c) Both (a) and (b)


Question 8.
Which is a central problem of an economy ?
(a) Allocation of Resources
(b) Optimum Utilisation of Resources
(c) Economic Development
(d) All of these

Answer

Answer: (d) All of these


Question 9.
Which of the following Is a type of economic activities ?
(a) Production
(b) Consumption
(c) Exchange and Investment
(d) All of these

Answer

Answer: (d) All of these


Question 10.
To which factor, economic problem is basically related to:
(a) Choice
(b) Consumer’s Selection
(c) Firm Selection
(d) None of these

Answer

Answer: (a) Choice


Question 11.
Economy may be classified as:
(a) Capitalist
(b) Socialist
(c) Mixed
(d) All of these

Answer

Answer: (d) All of these


Question 12.
Which economy has a co-existence of private and public sectors ?
(a) Capitalist
(b) Socialist
(c) Mixed
(d) None of these

Answer

Answer: (c) Mixed


Question 13.
The main objective of a socialist economy is…….
(a) Maximum production
(b) Economic freedom
(c) Earning profit
(d) Maximum public welfare

Answer

Answer: (d) Maximum public welfare


Question 14.
Production Possibility Curve is:
(a) Concave to the axis
(b) Convex to the axis
(c) Parallel to the axis
(d) Vertical to the axis

Answer

Answer: (a) Concave to the axis


Question 15.
Mention the name of the curve which shows economic problem:
(a) Production Curve
(b) Demand Curve
(c) Indifference Curve
(d) Production Possibility Curve

Answer

Answer: (d) Production Possibility Curve


Question 16.
Which of the following is studied under Macro Economics ?
(a) National Income
(b) Full. Employment
(c) Total Production
(d) All of these

Answer

Answer: (d) All of these


Question 17.
Which of the following Is a branch of Micro Economics ?
(a) Product Price Determination
(b) Factor Price Determination
(c) Economic Welfare
(d) All of these

Answer

Answer: (d) All of these


Question 18.
Which of the following is a source of production ?
(a) Land
(b) Labour
(c) Capital
(d) All of these

Answer

Answer: (d) All of these


Question 19.
Micro Economics includes:
(a) Individual unit
(b) Small units
(c) Individual price determination
(d) All of these

Answer

Answer: (d) All of these


Question 20.
Who was the father of Economics ?
(a) I. B. Say
(b) Malthus
(c) Adam Smith
(d) Joan Robinson

Answer

Answer: (c) Adam Smith


Question 21.
What is the shape of production possibility curve:
(a) Concave to the origin
(b) Concave
(c) Straight line
(d) None of the above.

Answer

Answer: (a) Concave to the origin


Question 22.
The reason for downward shape of production possibility curve is:
(a) Increasing opportunity cost
(b) Decreasing opportunity cost
(c) Same opportunity cost
(d) Negative opportunity cost

Answer

Answer: (b) Decreasing opportunity cost


Question 23.
Who gave the definition of Economics related to welfare ?
(a) Adam Smith
(b) Marshall
(c) Robbins
(d) Samuelson

Answer

Answer: (b) Marshall


Question 24.
The word ‘micro’ was firstly used by:
(a) Marshall
(b) Boulding
(c) Keynes
(d) Ragnar Frish

Answer

Answer: (d) Ragnar Frish


Question 25.
Which Economist divided Economics in two branches of micro and macro on the basis of economic activity?
(a) Marshall
(b) Ricardo
(c) Ragnar Frish
(d) None of these

Answer

Answer: (d) None of these


Question 26.
Which of the following is studied under Micro Economics ?
(a) Individual unit
(b) Economic Aggregate
(c) National Income
(d) None of these

Answer

Answer: (d) None of these


Question 27.
According to whom, Economics is a science of human welfare ?
(a) A Marshall
(b) Paul Samuelson
(c) J. S. Mill
(d) Adam Smith

Answer

Answer: (a) A Marshall


Question 28.
Which of the following is not a factor of production ?
(a) Land
(b) Labour
(c) Money
(d) Capital

Answer

Answer: (c) Money


Question 29.
The central problem of an economy is:
(a) What to produce ?
(b) How to produce ?
(c) How to distribute produced goods ?
(d) All of these

Answer

Answer: (d) All of these


Question 30.
Consumer behaviour is studied in:
(a) Micro Economics
(b) Income Theory
(c) Mac o Economics
(d) None of these

Answer

Answer: (a) Micro Economics


Question 31.
Indian economy is:
(a) Centrally planned economy
(b) Market economy
(c) Mixed economy
(d) None of these.

Answer

Answer: (c) Mixed economy


Question 32.
Who used the word ‘micro’ for the first time:
(a) Marshall
(b) Boulding
(c) Keynes
(d) Ragnar Frisch

Answer

Answer: (d) Ragnar Frisch


Question 33.
Who said economics is the ‘Science of wealth:
(a) Prof. Robbins
(b) Prof. J.K. Mehta
(c) Prof. Marshall
(d) Prof. Adam Smith

Answer

Answer: (d) Prof. Adam Smith


Question 34.
In which economy decisions are taken on the basis of price mechanism ?
(a) Socialist
(b) Capitalist
(c) Mixed
(d) All of these

Answer

Answer: (b) Capitalist


Question 35.
The slope of a production possibility curve falls:
(a) From left to right
(b) From right to left
(c) From top to bottom
(d) From bottom to top

Answer

Answer: (c) From top to bottom


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