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

11th Standard

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Economics

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

    Answer all the questions

    10 x 1 = 10
  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. Deductive method is also called as

    (a)

    Analytical method

    (b)

    Abstract method

    (c)

    Both 'a' and 'b'

    (d)

    None of these

  3. ________ can be eliminated by limiting the human wants.

    (a)

    Scarcity

    (b)

    Choice

    (c)

    Consumption

    (d)

    Production

  4. __________ scale of production facilitates specialization and delegation.

    (a)

    Small

    (b)

    Medium

    (c)

    Large

    (d)

    All the above

  5. _________ are very important to decide the production behaviour of a firm.

    (a)

    Production and market

    (b)

    Taxation and subsidy

    (c)

    Cost and revenue

    (d)

    None

  6. ____________ market in which a single producer faces a single consumer.

    (a)

    Bilateral Oligopoly

    (b)

    Bilatral Monopoly

    (c)

    Monopoly

    (d)

    Oligopoly

  7. The Agio theory of interest was propounded by John Rae. But credit goes to ___________.

    (a)

    Bohm Bawerk

    (b)

    Benham

    (c)

    Walker

    (d)

    Knut Wickseel

  8. ____________money is held to meet an unforeseen expenditure.

    (a)

    Transaction

    (b)

    Precautionary

    (c)

    Speculative

    (d)

    Supply

  9. ______ was a pioneer of rural economic development theories.

    (a)

    Kumarappa

    (b)

    Gandhi

    (c)

    Nehru

    (d)

    V.K.R.V. Rao

  10. Suppose D = 150 - 50P. Then, the slope is

    (a)

    -5

    (b)

    50

    (c)

    5

    (d)

    -50

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