11th Public Exam March 2019 Important One Mark Test

11th Standard

    Reg.No. :
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Economics

Time : 01:00:00 Hrs
Total Marks : 100
    100 x 1 = 100
  1. A market is

    (a)

    Only a place to buy things

    (b)

    Only a place to sell things

    (c)

    Only a place where prices adjust

    (d)

    A system where persons buy and sell goods directly or indirectly

  2. Which one of the following is not a point in the Welfare Definition of Economics?

    (a)

    Study of ordinary man

    (b)

    Economics does not focus on wealth alone

    (c)

    Economics is the study of material welfare

    (d)

    Economics deals with unlimited wants and limited means

  3. Who has given scarcity definition of economic?

    (a)

    Adam Smith

    (b)

    Marshall

    (c)

    Robbins

    (d)

    Robertson

  4. ______ comes from the Ancient Greek Oikonomikos.

    (a)

    Politics

    (b)

    Econometrics

    (c)

    Economics

    (d)

    Ethics

  5. What is other name for Economics?

    (a)

    Political Economy

    (b)

    Capitalist Economy

    (c)

    Socialist Economy

    (d)

    Traditional Economy

  6. Uses of PPC______________.

    (a)

    the problem of choice

    (b)

    the notion of scarcity

    (c)

    solution of central problems

    (d)

    all of these

  7. When marginal utility reaches zero, the total utility will be

    (a)

    Minimum

    (b)

    Maximum

    (c)

    Zero

    (d)

    Negative

  8. Given potential price is Rs. 250 and the actual price is Rs. 200. find the consumer surplus.

    (a)

    375

    (b)

    175

    (c)

    200

    (d)

    50

  9. The locus of the points which gives same level of satisfaction is associated with

    (a)

    Indifference Curves

    (b)

    Cardinal Analysis

    (c)

    Law of Demand

    (d)

    Law of Supply

  10. If the co-efficient elasticity is equal to zero it represents __ supply.

    (a)

    Perfectly elastic

    (b)

    Unitary inelastic

    (c)

    Relatively elastic

    (d)

    Perfectly inelastic

  11. A consumer buys two commodities x and y he would be in equilibrium when _____

    (a)

    \(\frac{MUx}{Px}=\frac{MUy}{Py}\)

    (b)

    \(\frac{MUx}{MUy}=MUm\)

    (c)

    \(\frac{MUx}{Px}=\frac{MUy}{Py}\)

    (d)

    \(\frac{Px}{Py}=MUm\)

  12. The indifference curve apporach was introduced by

    (a)

    Alfred marshal

    (b)

    Lional Robbins

    (c)

    J.R.Hicks and R.G.D Allen

    (d)

    Adam smith

  13. Demand curve in general cases slopes____________.

    (a)

    upward towards left

    (b)

    vertical and parallel to Y axis

    (c)

    downward from left to right

    (d)

    horizontal and parallel to X axis

  14. Under marginal utility analysis, utility is assumed to be as_____________.

    (a)

    cardinal concept

    (b)

    ordinal concept

    (c)

    indeterminate concept

    (d)

    infinite concept

  15. The primary factors, of production are:

    (a)

    Labour and Organisation

    (b)

    Labour and Capital

    (c)

    Land and Capital

    (d)

    Land and Labour

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

    (a)

    Land

    (b)

    Labour

    (c)

    Capital

    (d)

    Organization

  17. Which of the following is not a characteristic of land?

    (a)

    Its limited supply

    (b)

    Its is mobile

    (c)

    Heterogeneous

    (d)

    Gift of Nature

  18. Annual income flows are called _______________

    (a)

    Annual cost

    (b)

    Minimum cost

    (c)

    Annuities

    (d)

    Annual income

  19. When total product falls, then ________________

    (a)

    Average product is equal to zero

    (b)

    Marginal product is equal to zero

    (c)

    Marginal product is negative

    (d)

    Average product continues to rise

  20. ____________ is the active factor of production.

    (a)

    Labour

    (b)

    Land

    (c)

    Capital

    (d)

    None of these

  21. A successful entrepreneur is one who is ready to accept

    (a)

    Innovations

    (b)

    Risk

    (c)

    Deciding the location of the production unit

    (d)

    None

  22. Money cost is also known as _____ cost.

    (a)

    explicit

    (b)

    implicit

    (c)

    social

    (d)

    real

  23. The cost incurred by producing one more unit of _____ output is cost.

    (a)

    variable

    (b)

    fixed

    (c)

    marginal

    (d)

    total

  24. The cost per unit of output is denoted by cost _____.

    (a)

    average

    (b)

    marginal

    (c)

    variable

    (d)

    total

  25. When price remains constant. AR will be _____ MR.

    (a)

    equal to

    (b)

    greater than

    (c)

    less than

    (d)

    not related to

  26. Find out the Real Cost

    (a)

    Workers in foregoing leisure

    (b)

    Land and building

    (c)

    Payment of wages

    (d)

    Alternative foregone

  27. When TCn = Rs. 1600, TCn+1 = Rs. 1900 then MC=___________

    (a)

    Rs. 3500

    (b)

    Rs. 300

    (c)

    Rs. 1600/1900

    (d)

    Rs. 600

  28. Cost function are derived function. They are derived form ...................

    (a)

    demand function

    (b)

    supply function

    (c)

    cost analysis

    (d)

    production function.

  29. The cost of one thing in term of the alternative given up is known as .................. cost.

    (a)

    Production

    (b)

    Fixed

    (c)

    Opportunity

    (d)

    None

  30. Equilibrium condition of a firm is ___________

    (a)

    MC=MR

    (b)

    MC>MR

    (c)

    MC < MR

    (d)

    MR = Price

  31. Profit of a firm is obtained when __________

    (a)

    TR<TC

    (b)

    TR-MC

    (c)

    TR>TC

    (d)

    TR=TC

  32. In which market form does, an absence of competition prevail?

    (a)

    Perfect competition

    (b)

    Monopoly

    (c)

    Duopoly

    (d)

    Oligopoly

  33. An example of selling cost is __________

    (a)

    Raw material cost

    (b)

    Transport cost

    (c)

    Advertisement cost

    (d)

    Purchasing cost

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

    (a)

    Bilateral Oligopoly

    (b)

    Bilatral Monopoly

    (c)

    Monopoly

    (d)

    Oligopoly

  35. Monopoly power by getting patent rights, trade mark from the government known as

    (a)

    Legal Monopoly

    (b)

    State Monopoly

    (c)

    Natural Monopoly

    (d)

    All the above

  36. In Economics, distribution of income is among ___________.

    (a)

    factors of production

    (b)

    Individual

    (c)

    firms

    (d)

    traders

  37. Original and indestructible power of the soil is the term used by _________.

    (a)

    J.S. Mill

    (b)

    Walker

    (c)

    Clark

    (d)

    Ricardo

  38. According to the Loanable Funds Theory, supply of loanable funds is equal to _________.

    (a)

    S + BC + DH + DI

    (b)

    I + DS + DH + BM

    (c)

    S + DS + BM + DI

    (d)

    S + BM + DH + DS

  39. "Wages as a sum of money are paid under contract by an employer to a worker for services rendered" - Who said this?

    (a)

    Benham

    (b)

    Marshall

    (c)

    Walker

    (d)

    J.S. Mill

  40. The marginal productivity theory of Distribution is applicable only in the _______.

    (a)

    Long run

    (b)

    Short run

    (c)

    Market

    (d)

    None of these

  41. The Precautionary Motive relates to the people to hold cash ________ expenditure.

    (a)

    Unexpected

    (b)

    Future

    (c)

    Market

    (d)

    All the above

  42. Gross Profit - Implicit Cost.

    (a)

    Net Profit

    (b)

    Gross Profit

    (c)

    Normal Profit

    (d)

    Super Normal Profit

  43. A scientific study of the characteristics of population is _____

    (a)

    Topography

    (b)

    Demography

    (c)

    Geography

    (d)

    Philosophy

  44. Who introduced the National Development Council in India?

    (a)

    Ambedkar

    (b)

    Jawaharlal Nehru

    (c)

    Radhakrishnan

    (d)

    V.K.R. V. Rao

  45. Who among the following propagated Gandhian Economic thinkings.

    (a)

    Jawaharlal Nehru

    (b)

    VKRV Rao

    (c)

    JC Kumarappa

    (d)

    A.K.Sen

  46. Ambedkar studied the problem in the context of Indian Economy is _____

    (a)

    Small land holdings and their remedies

    (b)

    Problem of Indian Currency

    (c)

    Economics of socialism

    (d)

    All of them

  47. Population growth rate in India is as high as ______

    (a)

    1.7

    (b)

    2.7

    (c)

    3.7

    (d)

    4.7

  48. Education in India follows the _____ patern.

    (a)

    10+ 3

    (b)

    10 + 2

    (c)

    11 + 2

    (d)

    9 + 3

  49. Gandhi advocated cent per cent ____________.

    (a)

    Prohibition

    (b)

    Industrialization

    (c)

    Socialism

    (d)

    Agricultural Economics

  50. The arrival of Vasco da Gama in Calicut, India________

    (a)

    1498

    (b)

    1948

    (c)

    1689

    (d)

    1849

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

    (a)

    Akbar

    (b)

    Shajakan

    (c)

    Jahangir

    (d)

    Noorjakhan

  52. The father of Green Revolution in India was __________

    (a)

    M.S. Swaminathan 

    (b)

    Gandhi

    (c)

    Visweswaraiah

    (d)

    N.R. Viswanathan

  53. In the first five year plan, the top priority was given to __ Sector

    (a)

    Service

    (b)

    Industrial

    (c)

    Agriculture

    (d)

    Bank

  54. The PQLI was developed by _________

    (a)

    Planning Commission

    (b)

    Nehru

    (c)

    Morris

    (d)

    Morris D. Biswajeet

  55. The British capitalists who established __ in Bengal.

    (a)

    Thread Mills

    (b)

    Cotton Mills

    (c)

    Rice Mills

    (d)

    Jute Mills

  56. The aim of Securities and Exchange Board India is__________

    (a)

    To protect consumers

    (b)

    To protect people

    (c)

    To promote weaker sections

    (d)

    To protect the interest of investors

  57. Sir Thomas Rao was in getting permission from _______________ for setting up factories all parts of India.

    (a)

    Jahangir

    (b)

    Babar

    (c)

    Akbar

    (d)

    None

  58. Oil and Natural Gas Commission was established at______________________.

    (a)

    Uttarakhand

    (b)

    Bihar

    (c)

    Jharkhand

    (d)

    West Bengal

  59. The Portuguese had traded as early as 1510 in_________

    (a)

    Surat

    (b)

    Goa

    (c)

    Culcutta

    (d)

    Bombay

  60. Expansion of FDI____

    (a)

    Foreign Private Investment

    (b)

    Foreign Portfolio

    (c)

    Foreign Direct Investment

    (d)

    Forex Private Investment

  61. India is the largest producer of_______in the world

    (a)

    fruits

    (b)

    gold

    (c)

    petrol

    (d)

    diesel

  62. Agricultural Produce Market Committee is a _____.

    (a)

    Advisory body

    (b)

    Statutory body

    (c)

    Both 'a' and 'b'

    (d)

    None of these

  63. The new economic policy is concerned with the following

    (a)

    Foreign investment

    (b)

    Foreign technology

    (c)

    Foreign trade

    (d)

    All the above

  64. The recommendation of Narashimham Committee Report was submitted in the year____

    (a)

    1990

    (b)

    1991

    (c)

    1995

    (d)

    2000

  65. India suffered from the twin problems of ______ and_____.

    (a)

    Poverty, Unemployment..

    (b)

    Low per capita income lack of technology

    (c)

    Low productivity, High Cost

    (d)

    High Population, Poverty

  66. ______facilities of 1991 the lending pattern of commercial banks.

    (a)

    Paucity of Credit

    (b)

    Factoring

    (c)

    Over draft

    (d)

    All the above

  67. In the year 1991 India went through a severe economic crisis in the form of serious ________

    (a)

    Poor agricultural production

    (b)

    Poor Industrial production

    (c)

    Inflation problems

    (d)

    Balance of payments prob

  68. Under the new industrial policy 1991, system of phased manufacturing programme approved on case-to-case basis_________.

    (a)

    will not be applicable to new projects

    (b)

    will be applicable to new projects

    (c)

    will be applicable to new projects costing more than Rs 10 crores

    (d)

    None of these

  69. As a part of economic reforms in 1991, financial sector reforms were relate to___________.

    (a)

    Banking sector

    (b)

    Capital market sector

    (c)

    Insurance sector

    (d)

     All of these

  70. Which is considered as the basic unit for rural areas?

    (a)

    Panchayat

    (b)

    Village

    (c)

    Town

    (d)

    Municipality

  71. Identify the feature of rural economy ____________

    (a)

    Dependence on agriculture

    (b)

    High population density

    (c)

    Low level of population

    (d)

    Low level of inequality

  72. How do you term people employed in excess over and above the requirements?

    (a)

    Unemployment

    (b)

    Underemployment or Disguised Unemployment

    (c)

    Full employment

    (d)

    Self employment

  73. Identify an example for rural industries?

    (a)

    Sugar factory

    (b)

    Mat making industry

    (c)

    Cement industry

    (d)

    Paper industry

  74. How much share of rural families in India is in debt?

    (a)

    Half

    (b)

    One fourth

    (c)

    Two third

    (d)

    Three fourth

  75. As per the planning commission estimates, the percentages of people living below poverty in rural areas was __________ during 2009 - 2010.

    (a)

    65.10

    (b)

    54.10

    (c)

    78.20

    (d)

    34.30

  76. SBLP started in __________

    (a)

    1992

    (b)

    1993

    (c)

    1994

    (d)

    1995

  77. ___________ is the backbone of India.

    (a)

    Industry

    (b)

    Agriculture

    (c)

    Mining

    (d)

    Manufacturing

  78. _____________provide employment and also change attitude of rural people towards work.

    (a)

    Green Revolution

    (b)

    Rural development

    (c)

    Rural Industrialization

    (d)

    None

  79. Cyclical unemployment is a ................. phenomenon.

    (a)

    permanent

    (b)

    temporary

    (c)

    long term

    (d)

    None of these

  80. If four farmers can do a field job which is being done by six farmers there is .................

    (a)

    Frictional unemployment

    (b)

    Disguised unemployment

    (c)

    Voluntary unemployment

    (d)

    Seasonal unemployment

  81. In sex ratio, Tamil Nadu ranks ----------

    (a)

    first

    (b)

    second

    (c)

    third

    (d)

    fifth

  82. Tamil Nadu is rich in ----------

    (a)

    Forest resource

    (b)

    Human resource

    (c)

    Mineral resource

    (d)

    All the above

  83. TN tops in the production of the following crops except

    (a)

    Banana

    (b)

    Coconut

    (c)

    Plantation crops

    (d)

    Cardamom

  84. In human development index, TN is ranked

    (a)

    second

    (b)

    fourth

    (c)

    sixth

    (d)

    seventh

  85. In India's total cement production, Tamil Nadu ranks

    (a)

    third

    (b)

    fourth

    (c)

    first

    (d)

    second

  86. Tamil Nadu is the 2nd largest contributor to India's GDP with ---------- share

    (a)

    8.4%

    (b)

    16.1%

    (c)

    4.2%

    (d)

    6%

  87. Tamil Nadu sources some of its power needs from renewable sources with wind power contributing over _____

    (a)

    1500 MW

    (b)

    2000 MW

    (c)

    1000 MW

    (d)

    1800 MW

  88. Which city is Knitting city?

    (a)

    Surat

    (b)

    Karur

    (c)

    Tiruppur

    (d)

    Sivakasi

  89. Expansion of "GER"______________.

    (a)

    Gross Enrollment Ratio

    (b)

    Government Enterprises Rationing

    (c)

    Ground net Entrepreneur Recruitment

    (d)

    Government Economic Ratio

  90. Nuclear Energy Power planet is situated in_____________.

    (a)

    Kalpakkam

    (b)

    Coimbatore

    (c)

    Pollachi

    (d)

    Thoothukudi

  91. The construction of demand line or supply line is the result of using

    (a)

    Matrices

    (b)

    Calculus

    (c)

    Algebra

    (d)

    Analytical Geometry

  92. Suppose D=50 - 5P when D is zero then

    (a)

    P is 10

    (b)

    P is 20

    (c)

    P is 5

    (d)

    P is -10

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

    (a)

    Middle

    (b)

    Price

    (c)

    Quantity

    (d)

    Constant

  94. The first differentiation of Total Revenue function gives ______

    (a)

    Average Revenue

    (b)

    Profit

    (c)

    Marginal Revenue

    (d)

    Zero

  95. The elasticity of demand is the ratio of ______

    (a)

    Marginal demand function and Revenue function

    (b)

    Marginal demand function to Average demand function

    (c)

    Fixed and Variable revenues

    (d)

    Marginal Demand function and Total demand function

  96. _______ is an arrangement of same elements of the corresponding matrix into rows and columns by enclosing vertical lines.

    (a)

    Matrix

    (b)

    Function

    (c)

    Determinants

    (d)

    Cramer's rule

  97. If x+y = 10 and x-y = 6 then, value of x

    (a)

    4

    (b)

    3

    (c)

    16

    (d)

    8

  98. \(Q_{ d }=100-5p\quad and\quad { Q }_{ s }={ Q }_{ d }\) then P=_________________________

    (a)

    5

    (b)

    -5

    (c)

    100

    (d)

    10

  99. The first known Economist to apply mathematical method to economic problems was____________.

    (a)

    J.M. Keynes

    (b)

    Adam Smith

    (c)

    JS.Mill

    (d)

    Giovanni Ceva

  100. Expansion of ICT ...................

    (a)

    Information and Communication Technology

    (b)

    Integral Coach Technique

    (c)

    Inter-nation Computer Technology

    (d)

    None of these

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