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11th Standard Economics English Medium Free Online Test 1 Mark Questions 2020 - Part Eight

11th Standard

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Economics

Time : 00:10:00 Hrs
Total Marks : 10

    Answer all the questions

    10 x 1 = 10
  1. A most refined form of the concept of consumer's surplus was given by

    (a)

    Alfred Marshall

    (b)

    Samuelson

    (c)

    Ricardo

    (d)

    Adamsmith

  2. The long-run production function is explained by

    (a)

    Law of Demand

    (b)

    Law of Supply

    (c)

    Returns to Scale

    (d)

    Law of Variable Proportions

  3. ________________ represent Human capital.

    (a)

    Money

    (b)

    Efficiency

    (c)

    Hard work

    (d)

    All the above

  4. Land is _________ in supply.

    (a)

    Fixed

    (b)

    Decreased

    (c)

    Increased

    (d)

    Equal

  5. TC= _____.

    (a)

    TFC+TVC

    (b)

    TFC-TVC

    (c)

    TFC x TVC

    (d)

    TFC/TVC

  6. The prevalence of ________ price is also due to the absence of the transport cost.

    (a)

    more

    (b)

    less

    (c)

    uniform

    (d)

    none

  7. In an underdeveloped economy, there is_______________.

    (a)

    Agriculture as the main occupation

    (b)

    High degree of inequality of incomes

    (c)

    No income at all

    (d)

    Nothing can be said

  8. The main objective of nationalisation of banks was ___________

    (a)

    Private social welfare

    (b)

    Social welfare

    (c)

    To earn profit

    (d)

    Industries monopoly

  9. The Chelliah Committee's report had suggested drastic reduction in______.

    (a)

    import duties

    (b)

    export duties

    (c)

    both (a) and (b)

    (d)

    none of the above

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

    (a)

    Exists

    (b)

    Does not exists

    (c)

    is infinity

    (d)

    is zero

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