Introduction To Micro-Economics Important Question Paper

11th Standard

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Economics

Time : 01:00:00 Hrs
Total Marks : 50
    5 x 1 = 5
  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. Micro Economics is concerned with

    (a)

    The economy as a whole

    (b)

    Different sectors of an economy

    (c)

    The study of individual economic units behaviour

    (d)

    The interactions within the entire economy

  4. The term or word 'Economics' comes from language

    (a)

    Latin

    (b)

    Ancient Greek

    (c)

    Spanish

    (d)

    British

  5. "Economics as the science of wealth" - It is the statement of

    (a)

    Adam Smith

    (b)

    Lionel Robbins

    (c)

    Alfred Marshall

    (d)

    Samuelson

  6. 6 x 2 = 12
  7. What are goods?

  8. Distinguish goods from services

  9. Name any two types of utility.

  10. State four definitions of economics.

  11. Who criticized Adam Smith's Wealth definition? 

  12. What are the major features of Robbins definitions?

  13. 6 x 3 = 18
  14. What are the important features of utility?

  15. Distinguish between micro economics and macro economics.

  16. Compare positive economics and normative economics.

  17. What are the important features of Marshall's Welfare definition?

  18. Examine the major implications of samuelson growth definition

  19. Distinguish between particular equilibrium and general equilibrium.

  20. 3 x 5 = 15
  21. Explain basic problems of the economy with the help of production possibility curve.

  22. Explain the stable equilibrium with the help of diagram.

  23. Examine Adam Smith's Definition of Economics

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