Introduction To Micro-Economics One Mark Questions

11th Standard

    Reg.No. :
  •  
  •  
  •  
  •  
  •  
  •  

Economics

Time : 01:00:00 Hrs
Total Marks : 20
    20 x 1 = 20
  1. Economics is a study of mankind in the ordinary business of life - It is the statement of

    (a)

    Adam Smith

    (b)

    Lionel Robbins

    (c)

    Alfred Marshall

    (d)

    Samuelson

  2. The basic problem studying in Economics is

    (a)

    Unlimited wants

    (b)

    Unlimited means

    (c)

    Scarcity

    (d)

    Strategy to meet all our wants

  3. The equilibrium price is the price at which

    (a)

    Everything is sold

    (b)

    Buyers spend their money

    (c)

    Quantity demanded equals quantity supplied

    (d)

    Exess demand is zero

  4. Author of "An inquiry into the Nature and causes of wealth of Nations"

    (a)

    Alfred Marshall

    (b)

    Adam Smith

    (c)

    Lionel Robbins

    (d)

    Paul A Samuelson

  5. Economics is a science" the basis of this statement is

    (a)

    Relation between cause and effect

    (b)

    Use of dedective method and inductive method for the formations of laws

    (c)

    Experiments

    (d)

    All of the above

  6. Utility means

    (a)

    Equilibrium point at which demand and supply are equal

    (b)

    Want - satisfying capacity of goods and services

    (c)

    Total value of commodity

    (d)

    Desire for goods and services

  7. A market is

    (a)

    Only a place to buy things

    (b)

    Only a place to sell things

    (c)

    Only a place where prices adjust

    (d)

    A system where persons buy and sell goods directly or indirectly

  8. _____have exchange value and their ownership rights can be established and exchanged

    (a)

    Goods

    (b)

    Services

    (c)

    Markets

    (d)

    Revenue

  9. The process of reasoning from particular to general is

    (a)

    Deductive method

    (b)

    Inductive method

    (c)

    Positive economics

    (d)

    Normative economics

  10. Total revenue is equal to total output sold multiplied by

    (a)

    Price

    (b)

    Total cost

    (c)

    Marginal revenue

    (d)

    Marginal cost

  11. 'Oikos' means

    (a)

    Police

    (b)

    Management

    (c)

    Household

    (d)

    All the above

  12. 'Nomos' means

    (a)

    Polite

    (b)

    Management

    (c)

    Household

    (d)

    None of these

  13. Capital goods also called as_____good

    (a)

    Consumer

    (b)

    Producer's

    (c)

    Free goods

    (d)

    None of these

  14. _______utility derived by having knowledge of a particular thing

    (a)

    Place

    (b)

    Time

    (c)

    Knowledge

    (d)

    Service

  15. Micro Economics covers

    (a)

    Value theory

    (b)

    Theory of economic welfare

    (c)

    Both 'a' and 'b'

    (d)

    Income theory

  16. Micro means

    (a)

    Small

    (b)

    Big

    (c)

    Large

    (d)

    Aggregate

  17. Economics is a

    (a)

    Positive science

    (b)

    Normative science

    (c)

    Both

    (d)

    None

  18. In economics is a

    (a)

    Deductive method

    (b)

    Inductive method

    (c)

    Both

    (d)

    None

  19. Macro Economics means

    (a)

    The theory as a whole

    (b)

    Different sector of a country

    (c)

    The study of individual economic behaviour

    (d)

    None of the above

  20. The author of growth definition is _______.

    (a)

    Samuelson

    (b)

    Adam Smith

    (c)

    Marshal

    (d)

    J.S. Mill

*****************************************

Reviews & Comments about 11th Economics Chapter 1 Introduction To Micro-Economics One Mark Question Paper

Write your Comment