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11th Standard Economics English Medium Free Online Test Creative 1 Mark Questions - Part Four

11th Standard

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Economics

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

    Answer all the questions

    10 x 1 = 10
  1. Economics is a _______science

    (a)

    Social

    (b)

    Moral

    (c)

    Physical

    (d)

    Natural

  2. Production is the process of transformation of inputs into_______________.

    (a)

    distribution

    (b)

    exchange

    (c)

    output

    (d)

    marketing

  3. The law of Diminishing Marginal utility called as

    (a)

    Gossen's first Law of Consumption

    (b)

    Law of Demand

    (c)

    Law of Substitution

    (d)

    The law of Maximum Satisfaction

  4. ________________ represent Human capital.

    (a)

    Money

    (b)

    Efficiency

    (c)

    Hard work

    (d)

    All the above

  5. Land is _________ in supply.

    (a)

    Fixed

    (b)

    Decreased

    (c)

    Increased

    (d)

    Equal

  6. Monopoly power achieved through patent right is called______________.

    (a)

    Natural monopoly

    (b)

    State monopoly

    (c)

    Legal monopoly

    (d)

    Absolute monopoly

  7. A surplus that a producer receives over ________ from the sale of output.

    (a)

    Fixed cost

    (b)

    Average cost

    (c)

    LAC

    (d)

    Variable cost

  8. __________referred by 'rent' to the payment made for the use of agricultural land.

    (a)

    Marshall

    (b)

    Malthus

    (c)

    Ricardo

    (d)

    Robbins

  9. Gandhi advocated cent per cent ____________.

    (a)

    Prohibition

    (b)

    Industrialization

    (c)

    Socialism

    (d)

    Agricultural Economics

  10. Which system was least oppressive before independence?

    (a)

    Ryotwari

    (b)

    Mahalwari

    (c)

    Zamindari

    (d)

    None of these

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