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11th Standard Economics English Medium Free Online Test Book Back 1 Mark Questions with Answer Key

11th Standard

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Economics

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

    Answer all the questions

    10 x 1 = 10
  1. The basic problem studied in Economics is

    (a)

    Unlimited wants

    (b)

    Unlimited means

    (c)

    Scarcity

    (d)

    Strategy to meet all our wants

  2. Choice is always constrained or limited by the of our____ resources.

    (a)

    Scarcity

    (b)

    Supply

    (c)

    Demand

    (d)

    Abundance

  3. The man-made physical goods used to produce other goods and services are referred to as

    (a)

    Land

    (b)

    Labour

    (c)

    Capital

    (d)

    Organization

  4. Cost functions are also known as _____ function.

    (a)

    production

    (b)

    investment

    (c)

    demand

    (d)

    consumption

  5. Equilibrium condition of a firm is ___________

    (a)

    MC=MR

    (b)

    MC>MR

    (c)

    MC < MR

    (d)

    MR = Price

  6. Theory of distribution is popularly known as________.

    (a)

    Theory of product-pricing

    (b)

    Theory of factor - pricing

    (c)

    Theory of wages

    (d)

    Theory of interest

  7. Economic growth of a country is measured by national income indicated by ____

    (a)

    GNP

    (b)

    GDP

    (c)

    NNP

    (d)

    Per capita income

  8. In 1614 Sir Thomas Roe was successful in getting permission from __________

    (a)

    Akbar

    (b)

    Shajakan

    (c)

    Jahangir

    (d)

    Noorjakhan

  9. Countries today are to be __ for their growth.

    (a)

    Dependent

    (b)

    Interdependent

    (c)

    Free trade

    (d)

    Capitalist

  10. Which feature is identified with rural areas?

    (a)

    Low population density

    (b)

    High population density

    (c)

    Low natural resources

    (d)

    Low human resources

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