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11th All Chapter 1 mark Impatant Question

11th Standard

    Reg.No. :
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Economics

Time : 01:00:00 Hrs
Total Marks : 48
    48 x 1 = 48
  1. 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

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

    (a)

    Goods

    (b)

    Services

    (c)

    Markets

    (d)

    Revenue

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

    (a)

    Supply

    (b)

    Demand

    (c)

    Choice

    (d)

    None

  4. The General theory of Employment, Interest and Money published by

    (a)

    A.C. Pigou

    (b)

    J.M. Keynes

    (c)

    Marshall

    (d)

    Lionel Robbins

  5. When marginal utility reaches zero, the total utility will be

    (a)

    Minimum

    (b)

    Maximum

    (c)

    Zero

    (d)

    Negative

  6. Given potential price is Rs. 250 and the actual price is Rs. 200. find the consumer surplus.

    (a)

    375

    (b)

    175

    (c)

    200

    (d)

    50

  7. The indifference curve approach is based on the concept

    (a)

    Diminishing marginal rate of substitution

    (b)

    The law of maximum satisfaction

    (c)

    Single mode commodity

    (d)

    All the above

  8. Demand curve in general cases slopes____________.

    (a)

    upward towards left

    (b)

    vertical and parallel to Y axis

    (c)

    downward from left to right

    (d)

    horizontal and parallel to X axis

  9. Which factor is called the changing agent of the Society

    (a)

    Labourer

    (b)

    Land

    (c)

    Organizer

    (d)

    Capital

  10. Name the returns to scale when the output increases by more than 5% for a 5% increase in the inputs,

    (a)

    Increasing returns to scale

    (b)

    Decreasing returns to scale

    (c)

    Constant returns to scale

    (d)

    All of the above

  11. At the point of inflexion, the marginal product is ______________

    (a)

    Increasing

    (b)

    Decreasing

    (c)

    Maximum

    (d)

    Negative

  12. _________ is the result of Cooperation of four factors of production.

    (a)

    Production

    (b)

    Distribution

    (c)

    Exchange

    (d)

    Trade

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

    (a)

    fixed

    (b)

    variable

    (c)

    real

    (d)

    social

  14. Long run average cost curve is also called as _____ curve.

    (a)

    demand

    (b)

    planning

    (c)

    production

    (d)

    sales

  15. Find total cost where TFC = 200 and TVC = 150

    (a)

    300

    (b)

    350

    (c)

    200

    (d)

    150

  16. MC curve is a ____ shaped curve.

    (a)

    V

    (b)

    L

    (c)

    A

    (d)

    U

  17. Another name of price is _________

    (a)

    Average Revenue

    (b)

    Marginal Revenue

    (c)

    Total Revenue

    (d)

    Average cost

  18. In monopolistic competition, the essential feature is ____________

    (a)

    Same product

    (b)

    Selling cost

    (c)

    Single seller

    (d)

    Single buyer

  19. Under perfect competition, there is ___________  price prevails in the market.

    (a)

    High price

    (b)

    Low price

    (c)

    Uniform price

    (d)

    None of these

  20. TR = P x Q.

    (a)

    True

    (b)

    False

    (c)

    Partially true

    (d)

    None of these

  21. Quasi - rent arises in ________.

    (a)

    Man-made appliances

    (b)

    Home made items

    (c)

    Imported items

    (d)

    None of these

  22. "Wages as a sum of money are paid under contract by an employer to a worker for services rendered" - Who said this?

    (a)

    Benham

    (b)

    Marshall

    (c)

    Walker

    (d)

    J.S. Mill

  23. Interest is the reward for ___________.

    (a)

    Land

    (b)

    Labour

    (c)

    Capital

    (d)

    Organisation

  24. Profits are the reward for____________.

    (a)

    land

    (b)

    capital

    (c)

    labour

    (d)

    organisation

  25. Mixed economy means ______

    (a)

    Private sectors and banks

    (b)

    Co-existence of Public and Private sectors

    (c)

    Public sectors and banks

    (d)

    Public sectors only

  26. Who among the following propagated Gandhian Economic thinkings.

    (a)

    Jawaharlal Nehru

    (b)

    VKRV Rao

    (c)

    JC Kumarappa

    (d)

    A.K.Sen

  27. There are only _____ main gold mine regions.

    (a)

    three

    (b)

    two

    (c)

    one

    (d)

    none of the above

  28. Human Development Index was developed by the Indian economist ______

    (a)

    Marshall

    (b)

    Mahbub ul Haq

    (c)

    J.M. Keynes

    (d)

    Amartya Sen

  29. The Planning Commission was setup in the year ____________

    (a)

    1950

    (b)

    1955

    (c)

    1960

    (d)

    1952

  30. According to HDR (2016), India ranked __ out of 188 countries.

    (a)

    130

    (b)

    131

    (c)

    135

    (d)

    145

  31. The British capitalists who established __ in Bengal.

    (a)

    Thread Mills

    (b)

    Cotton Mills

    (c)

    Rice Mills

    (d)

    Jute Mills

  32. There is a great demand for________________________ in developed countries.

    (a)

    consumer goods

    (b)

    capital goods

    (c)

    handicraft goods

    (d)

    intermediate goods

  33. Expansion of FDI____

    (a)

    Foreign Private Investment

    (b)

    Foreign Portfolio

    (c)

    Foreign Direct Investment

    (d)

    Forex Private Investment

  34. The Goods and Services Tax Act come into effect on______

    (a)

    1st July 2017

    (b)

    1st July 2016

    (c)

    1st January 2017

    (d)

    1st January 2016

  35. EPZ indicates______.

    (a)

    Export Product Zone

    (b)

    Export Processing Zone

    (c)

    Export Price Zone

    (d)

    Export Zone

  36. India Shares______ percent of the total world population

    (a)

    17.5

    (b)

    20.5

    (c)

    35.6

    (d)

    10.5

  37. Which is considered as the basic unit for rural areas?

    (a)

    Panchayat

    (b)

    Village

    (c)

    Town

    (d)

    Municipality

  38. Identify the year of launch of MUDRA Bank?

    (a)

    1995

    (b)

    2000

    (c)

    2010

    (d)

    2015

  39. ____________ is an important component for ensuring better quality of life

    (a)

    Health

    (b)

    Technology

    (c)

    Jewellery

    (d)

    None of these

  40. _____________ is also called disguised unemployment.

    (a)

    Concealed unemployment

    (b)

    Under employment

    (c)

    Open unemployment

    (d)

    Technical unemployment

  41. Which Union Territory has the highest sex ratio?

    (a)

    Chandigarh

    (b)

    Pondicherry

    (c)

    Lakshadeep

    (d)

    Andaman Nicobar

  42. The largest contribution to GSDP in Tamil Nadu comes from ------------

    (a)

    agriculture

    (b)

    industry

    (c)

    mining

    (d)

    services

  43. Coimbatore is also referred to as ------

    (a)

    The pump city

    (b)

    Detroit of Tamil Nadu

    (c)

    Gateway of Tamil Nadu

    (d)

    Little Japan

  44. ____ International Airport is currently the third largest airport in India after Mumbai and Delhi.

    (a)

    Chennai

    (b)

    Kolkata

    (c)

    Madurai

    (d)

    Coimbatore

  45. Differentiation of constant term gives

    (a)

    one

    (b)

    zero

    (c)

    infinity

    (d)

    non-infinity

  46. The first differentiation of Total Revenue function gives ______

    (a)

    Average Revenue

    (b)

    Profit

    (c)

    Marginal Revenue

    (d)

    Zero

  47. ________ methods are helpful for achieving the objectives of the economic analysis.

    (a)

    Inductive method

    (b)

    Deductive method

    (c)

    Mathematical methods

    (d)

    Statistical methods

  48. \(M={1/2-Y_1\over X_2-X_1}\)gives the

    (a)

    Slope

    (b)

    Straight line

    (c)

    Variant

    (d)

    Constant

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