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11th Standard Economics Production Analysis English Medium Free Online Test One Mark Questions 2020 - 2021

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

    (a)

    Land

    (b)

    Labour

    (c)

    Capital

    (d)

    Organization

  2. The short-run production is studied through

    (a)

    The Law of Returns to scale

    (b)

    The Law of Variable Proportions

    (c)

    ISO - quants

    (d)

    Law of Demand

  3. Modern economists have propounded the law of

    (a)

    Increasing returns

    (b)

    Decreasing returns

    (c)

    Constant returns

    (d)

    Variable proportions

  4. The relationship between the price of a commodity and the supply of commodity is

    (a)

    Negative

    (b)

    Positive

    (c)

    Zero

    (d)

    Increase

  5. _____________ said that 'exertion of body or mind' results in labour.

    (a)

    Alfred Marshall

    (b)

    Robbins

    (c)

    Adam Smith

    (d)

    J.M. Keynes

  6. _____________ is a free gift of nature.

    (a)

    Land

    (b)

    Organisation

    (c)

    Capital

    (d)

    All of these

  7. ________________ represent Human capital.

    (a)

    Money

    (b)

    Efficiency

    (c)

    Hard work

    (d)

    All the above

  8. The long run production is analysed by using two concept _____________ and ______________

    (a)

    Iso quant Return to scale

    (b)

    Decreasing and Increasing return to scale

    (c)

    Increasing and Diminishing returns

    (d)

    None of these

  9. ________________ cannot be separated from labourer.

    (a)

    Labour

    (b)

    Organisation

    (c)

    Time

    (d)

    Money

  10. At the point of inflexion, the marginal product is ______________

    (a)

    Increasing

    (b)

    Decreasing

    (c)

    Maximum

    (d)

    Negative

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