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

11th Standard

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Economics

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

    Answer all the questions

    10 x 1 = 10
  1. _______ results in increased production.

    (a)

    Labour

    (b)

    Labourer

    (c)

    Division of Labour

    (d)

    None

  2. A change in the quantity supplied is a response to a change in the price is called __

    (a)

    Elasticity of supply

    (b)

    Elasticity of demand

    (c)

    Concept of Elasticity

    (d)

    Unitary Elastic of supply

  3. ___________refers to the quantity of goods or services that consumers are willing and able to purchase / buy at a given period of time.

    (a)

    Supply

    (b)

    Demand

    (c)

    Utility

    (d)

    Surplus.

  4. A firm under monopoly can earn ________ in the short run

    (a)

    Normal profit

    (b)

    Loss

    (c)

    Super normal profit

    (d)

    More loss

  5. These are _____ degrees of price discrimination.

    (a)

    One degree

    (b)

    Two degrees

    (c)

    Three degrees

    (d)

    Four degrees

  6. ________________  plays a key role in maximizing the growth prospects in the country.

    (a)

    physical capital

    (b)

    Money capital

    (c)

    Human capital

    (d)

    None

  7. Green Revolution started in India _________

    (a)

    1950

    (b)

    1960

    (c)

    1980

    (d)

    1990

  8. Financial sector reforms mainly related to____

    (a)

    Insurance sector

    (b)

    Banking sector

    (c)

    Both a and b

    (d)

    Transport sector

  9. Fixed cost is the ___ term in cost function represented in mathematical form

    (a)

    Middle

    (b)

    Price

    (c)

    Quantity

    (d)

    Constant

  10. If X = -50 + 10P, then it is a ________________________ function

    (a)

    demand

    (b)

    supply

    (c)

    Identity

    (d)

    constant

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