One Mark Question Paper

11th Standard

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Economics

Time : 01:00:00 Hrs
Total Marks : 75

    Answer ALL Questions

    75 x 1 = 75
  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. 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

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

    (a)

    Price

    (b)

    Total cost

    (c)

    Marginal revenue

    (d)

    Marginal cost

  4. 'Nomos' means

    (a)

    Polite

    (b)

    Management

    (c)

    Household

    (d)

    None of these

  5. ________are transferable

    (a)

    Goods

    (b)

    Products

    (c)

    Commodities

    (d)

    All of these

  6. ______means using up of goods and services

    (a)

    Production

    (b)

    Consumption

    (c)

    Distribution

    (d)

    Exchange

  7. Macro Economics is concerned with

    (a)

    The theory as a whole

    (b)

    Different sectors of an economy

    (c)

    The Study of individual economic behaviour

    (d)

    The interactions within the entire economy

  8. The book "An essay on the Nature and significance of economic science" writen by.

    (a)

    Samuelson

    (b)

    Lional Robbins

    (c)

    Adam Smith

    (d)

    Marshall

  9. The scarcity of a commodity is only in relation to its

    (a)

    Supply

    (b)

    Demand

    (c)

    Choice

    (d)

    None

  10. Choice is always constrained or limited by the of our____ resources.

    (a)

    Scarcity

    (b)

    Supply

    (c)

    Demand

    (d)

    Abundance

  11. The basis for the law of demand is related to

    (a)

    Law of Diminishing Marginal Utility

    (b)

    Law of Supply

    (c)

    Law of Equi-Marginal Utility

    (d)

    Gossen's Law

  12. A consumer is in equilibrium when marginal utilities from two goods are

    (a)

    Minimum

    (b)

    Maximum

    (c)

    Equal

    (d)

    Increasing

  13. The concept of consumers surplus was introduced by ____

    (a)

    Alfred Marshall

    (b)

    J.R. Hicks

    (c)

    A.C. Pigon

    (d)

    J.K. Easthan

  14. _____ of the following constitute 'demand' in economics

    (a)

    A desire to buy

    (b)

    A decision to buy

    (c)

    The purchasing power

    (d)

    All the above

  15. The indifference curve are

    (a)

    vertical

    (b)

    horizontal

    (c)

    positive sloped

    (d)

    negative

  16. __ is a powerful factor that influence demand.

    (a)

    Expenses

    (b)

    Price

    (c)

    Income

    (d)

    Cominodity

  17. Human wants are classified in to

    (a)

    Necessaries and Laxuries

    (b)

    Luxuries and comforts

    (c)

    Necessaries and comforts

    (d)

    Necessaries and Luxuries

  18. Giffen goods are classified in to ________and___________ goods.

    (a)

    Superior

    (b)

    Inferior

    (c)

    Both (a) and (b)

    (d)

    None of the above

  19. "Consumption is the sole end and object of economic activity" defined by

    (a)

    J.M. Keynes

    (b)

    Marshall

    (c)

    Jevons

    (d)

    J.R.Hicks

  20. The man-made physical goods used to produce other goods and services are referred to as

    (a)

    Land

    (b)

    Labour

    (c)

    Capital

    (d)

    Organization

  21. Mention the economies reaped from inside the firm

    (a)

    financial

    (b)

    technical

    (c)

    managerial

    (d)

    all of the above

  22. The relationship between the price of a commodity and the supply of commodity is

    (a)

    Negative

    (b)

    Positive

    (c)

    Zero

    (d)

    Increase

  23. Education and training given to labour is _________________

    (a)

    money capital

    (b)

    human capital

    (c)

    physical capital

    (d)

    none of the these

  24. Land is subject to _____________

    (a)

    Law of Demand

    (b)

    Law of Variable Proportion

    (c)

    Law of Diminishing Returns

    (d)

    Law of Returns to Scale

  25. Production refers to

    (a)

    Destruction of utility

    (b)

    Creation of utility

    (c)

    Exchange value

    (d)

    None

  26. The cost that remains constant at all levels of output is _____ cost.

    (a)

    fixed

    (b)

    variable

    (c)

    real

    (d)

    social

  27. The cost per unit of output is denoted by cost _____.

    (a)

    average

    (b)

    marginal

    (c)

    variable

    (d)

    total

  28. When price remains constant. AR will be _____ MR.

    (a)

    equal to

    (b)

    greater than

    (c)

    less than

    (d)

    not related to

  29. A shop keeper sold 20 bags with the price of Rs. 100 each. The total revenue of the seller is Rs.

    (a)

    200

    (b)

    20

    (c)

    2000

    (d)

    1500

  30. AC= 

    (a)

    AFC-AVC

    (b)

    AFC+AVC

    (c)

    AFC xAVC

    (d)

    AFC/AVC

  31. MC curve always cuts AC in its ____________ point from below.

    (a)

    maximum

    (b)

    minimum

    (c)

    zero

    (d)

    none

  32. Which of the following is a feature of monopolistic competition?

    (a)

    One seller

    (b)

    Few sellers

    (c)

    Product differentiation

    (d)

    No entry

  33. Perfect competition assumes ____________

    (a)

    Luxury goods

    (b)

    Producer goods

    (c)

    Differentiated goods

    (d)

    Homogeneous goods

  34. In which market form does, an absence of competition prevail?

    (a)

    Perfect competition

    (b)

    Monopoly

    (c)

    Duopoly

    (d)

    Oligopoly

  35. Very short period is also called ________ period

    (a)

    Long Period

    (b)

    Short Period

    (c)

    Market Period

    (d)

    None of these

  36. These are _____ degrees of price discrimination.

    (a)

    One degree

    (b)

    Two degrees

    (c)

    Three degrees

    (d)

    Four degrees

  37. A firm under monopoly faces a _______ sloping demand curve.

    (a)

    Upward

    (b)

    Downward

    (c)

    "U" shape

    (d)

    Vertical

  38. Theory of distribution is popularly known as________.

    (a)

    Theory of product-pricing

    (b)

    Theory of factor - pricing

    (c)

    Theory of wages

    (d)

    Theory of interest

  39. Money wages are also known as __________.

    (a)

    Real wages

    (b)

    Nominal wages

    (c)

    Original wages

    (d)

    Transfer wages

  40. The distribution of income or wealth of a country among the individuals are

    (a)

    Functional distribution

    (b)

    Personal distribution

    (c)

    Goods distribution

    (d)

    Service distribution

  41. Abstinence Theory of Interest was propounded by _________.

    (a)

    Alfred Marshall

    (b)

    N.W. Senior

    (c)

    Bohm-Bawerk

    (d)

    Knut Wicksell

  42. VMP= ____________.

    (a)

    MPP + Price

    (b)

    MPP x Price

    (c)

    MPP + Price

    (d)

    MPP - Price

  43. Wages are divided into ___________ types.

    (a)

    One

    (b)

    Two

    (c)

    Three

    (d)

    Four

  44. Organization is done by.

    (a)

    J.M.Keynes

    (b)

    Entrepreneur

    (c)

    Profit

    (d)

    Labour

  45. _________ leads to reduction in the cost and bring profit to an entrepreneur.

    (a)

    Risk

    (b)

    Innovation

    (c)

    Change

    (d)

    Uncertainty

  46. Economic growth of a country is measured by national income indicated by ____

    (a)

    GNP

    (b)

    GDP

    (c)

    NNP

    (d)

    Per capita income

  47. The year 1961 is known as ______

    (a)

    Year of small divide

    (b)

    Year of Population Explosion

    (c)

    Year of Urbanisation

    (d)

    Year of Great Divide

  48. Gandhian Economics is based on the Principle

    (a)

    Socialistic idea

    (b)

    Ethical foundation

    (c)

    Gopala Krishna Gokhale

    (d)

    Dadabhai Naoroji

  49. Natural resources are _____

    (a)

    Renewable resources

    (b)

    Non renewable resources

    (c)

    Land resources

    (d)

    All the above

  50. _____ is the most densely populated state in the country.

    (a)

    Uttar Pradesh

    (b)

    Andra Pradesh

    (c)

    Bihar

    (d)

    Kerala

  51. Give an example for Renewable Resources _______

    (a)

    Forests

    (b)

    Wild life

    (c)

    Biomass

    (d)

    Hydro energies

    (e)

    All the above.

  52. Around_______________ of the people in India depend upon agriculture for thier livelihood.

    (a)

    60%

    (b)

    60.5%

    (c)

    55.5%

    (d)

    50%

  53. In 1614 Sir Thomas Roe was successful in getting permission from __________

    (a)

    Akbar

    (b)

    Shajakan

    (c)

    Jahangir

    (d)

    Noorjakhan

  54. The father of Green Revolution in India was __________

    (a)

    M.S. Swaminathan 

    (b)

    Gandhi

    (c)

    Visweswaraiah

    (d)

    N.R. Viswanathan

  55. Annual plans formed in the year __ .

    (a)

    1989 - 1991

    (b)

    1990 - 1992

    (c)

    2000 - 2001

    (d)

    1981 - 1983

  56. Example for cash crops __

    (a)

    Sugarcane

    (b)

    Cotton and Jute

    (c)

    Oil seeds and potatoes

    (d)

    All of these

  57. The aim of Securities and Exchange Board India is__________

    (a)

    To protect consumers

    (b)

    To protect people

    (c)

    To promote weaker sections

    (d)

    To protect the interest of investors

  58. Steel Authority of India Ltd. (SAIL) was established in the year

    (a)

    1974

    (b)

    1970

    (c)

    1972

    (d)

    1971

  59. The Arguments against LPG is_____

    (a)

    Economic growth

    (b)

    More investment

    (c)

    Disparities among people and regions

    (d)

    Modernization

  60. Financial sector reforms mainly related to____

    (a)

    Insurance sector

    (b)

    Banking sector

    (c)

    Both a and b

    (d)

    Transport sector

  61. ______prices estimated by the Indian council of Agricultural Research.

    (a)

    Wholesale

    (b)

    Retail

    (c)

    Market

    (d)

    All the above

  62. FDI is a

    (a)

    Foreign Direct Investment

    (b)

    Food Development Investment

    (c)

    Foreign Domestic Investment

    (d)

    None

  63. In which year the MRTP Act was passed?

    (a)

    1965

    (b)

    1969

    (c)

    1962

    (d)

    1960

  64. Identify the feature of rural economy ____________

    (a)

    Dependence on agriculture

    (b)

    High population density

    (c)

    Low level of population

    (d)

    Low level of inequality

  65. ___________ are inter related problems of an economy.

    (a)

    Unemployment

    (b)

    Poverty

    (c)

    Inequality

    (d)

    All the above

  66. ___________ is the backbone of India.

    (a)

    Industry

    (b)

    Agriculture

    (c)

    Mining

    (d)

    Manufacturing

  67. Which of the following is wrongly matched?

    (a)

    Gateway of Tamil Nadu - Thoothukudi

    (b)

    Home textile city - Erode

    (c)

    Steel city - Salem

    (d)

    Pump city - Coimbatore

  68. The TICEL park is

    (a)

    Rubber park

    (b)

    Textile park

    (c)

    Food park

    (d)

    Bio park

  69. ----------- tyre manufacturer is located in Chennai and preambular

    (a)

    MRF

    (b)

    TVS

    (c)

    Sri Chakra

    (d)

    TRW Rane

  70. In population Tamil Nadu ranks

    (a)

    Second

    (b)

    Fifth

    (c)

    Sixth

    (d)

    Fourth

  71. Suppose determinant of a matrix Δ = 0, then the solution

    (a)

    Exists

    (b)

    Does not exists

    (c)

    is infinity

    (d)

    is zero

  72. The command Ctrl +M is applied for

    (a)

    Saving

    (b)

    Copying

    (c)

    Getting new slide

    (d)

    Deleting a slide

  73. Formula for calculating consumer surplus ______

    (a)

    Qd = Qs

    (b)

    \(n_0{-P\over x}{dx\over dp}\)

    (c)

    \(CS=\left[\int_0^{x0}(x)dx \right]-xopo\)

    (d)

    \(P_S=xopo-\int_0^{xo}g(x)dx\)

  74. The intersection of rows and columns is termed as ______

    (a)

    Table

    (b)

    Bar

    (c)

    Cell

    (d)

    Square

  75. In a matrix, if the number of rows and columns are equal, it is called___________________________ matrix.

    (a)

    null

    (b)

    identity

    (c)

    singular

    (d)

    square

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