Important One Mark Question Paper

11th Standard

    Reg.No. :
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Economics

Time : 01:30:00 Hrs
Total Marks : 100

    Multiple Choice Question

    100 x 1 = 100
  1. Economics is a science" the basis of this statement is

    (a)

    Relation between cause and effect

    (b)

    Use of dedective method and inductive method for the formations of laws

    (c)

    Experiments

    (d)

    All of the above

  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. Identify the correct characteristics of utility

    (a)

    It is equivalent to 'usefulness'

    (b)

    It has moral significance

    (c)

    It is same as pleasure

    (d)

    It depends upon consumer's mental attitude

  4. ______means using up of goods and services

    (a)

    Production

    (b)

    Consumption

    (c)

    Distribution

    (d)

    Exchange

  5. Micro Economics covers

    (a)

    Value theory

    (b)

    Theory of economic welfare

    (c)

    Both 'a' and 'b'

    (d)

    Income theory

  6. __________ are transferable and value in exchange.

    (a)

    Trade

    (b)

    Goods

    (c)

    Business

    (d)

    None

  7. Pick the odd one out

    (a)

    Luxuries

    (b)

    Comforts

    (c)

    Necessaries

    (d)

    Agricultural goods

  8. The chief exponent of the cardinal utility approach was

    (a)

    J.R. Hicks

    (b)

    R.G.D. Allen

    (c)

    Marshall

    (d)

    Stigler

  9. In case of relatively more elastic demand the shape of the curve is

    (a)

    Horizontal

    (b)

    Vertical

    (c)

    Steeper

    (d)

    Flatter

  10. The concept of consumers surplus was introduced by ____

    (a)

    Alfred Marshall

    (b)

    J.R. Hicks

    (c)

    A.C. Pigon

    (d)

    J.K. Easthan

  11. Utility is a ____________ .

    (a)

    Social concept

    (b)

    Subjective / Psychological concept

    (c)

    Political concept

    (d)

    Scientific concept

  12. In the absence of consumption there can be no_________.

    (a)

    Consumption

    (b)

    Production

    (c)

    Service

    (d)

    None

  13. 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

  14. Demand for a commodity is a function of _________ .

    (a)

    Wealth

    (b)

    Price

    (c)

    Both

    (d)

    Taste and preference

  15. Which factor is called the changing agent of the Society

    (a)

    Labourer

    (b)

    Land

    (c)

    Organizer

    (d)

    Capital

  16. The functional relationship between "inputs" and "outputs" is called as

    (a)

    Consumption Function

    (b)

    Production Function

    (c)

    Savings Function

    (d)

    Investment Function

  17. Name the returns to scale when the output increases by more than 5% for a 5% increase in the inputs,

    (a)

    Increasing returns to scale

    (b)

    Decreasing returns to scale

    (c)

    Constant returns to scale

    (d)

    All of the above

  18. In the first stage of law of variable proportions, total product increases at an _______________

    (a)

    Decreasing rate

    (b)

    Increasing rate

    (c)

    Constant rate

    (d)

    Both (a) and (b)

  19. The __________ is an important component in analysing producer's behaviour.

    (a)

    Iso-quant curve

    (b)

    Iso-cost line

    (c)

    Production function

    (d)

    Elasticity of supply

  20. Large scale production implies ____________ leads to specialization to increase production.

    (a)

    Division of Labour

    (b)

    Labourer

    (c)

    Labour

    (d)

    None

  21. The tendency of total product to increase at an increasing rate stops at a point and it begins to increase at a decreasing rate. This point is known as____________

    (a)

    Point of inflexion

    (b)

    Point of intersection

    (c)

    Point of inference

    (d)

    Point of survival

  22. The costs of self-owned resources are termed as ____ cost.

    (a)

    real

    (b)

    explicit

    (c)

    money

    (d)

    impilicit

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

    (a)

    variable

    (b)

    fixed

    (c)

    marginal

    (d)

    total

  24. Wage is an example for _____ cost of the production.

    (a)

    fixed

    (b)

    variable

    (c)

    marginal

    (d)

    opportunity

  25. Revenue received from the sale of additional unit is termed as _____ revenue.

    (a)

    profit

    (b)

    average

    (c)

    marginal

    (d)

    total

  26. Profit = ____.

    (a)

    Total Revenue - Total Cost

    (b)

    Total Revenue + Total Cost

    (c)

    Total Revenue x Total Cost

    (d)

    Total Revenue / Total Cost

  27. Find total cost where TFC = 200 and TVC = 150

    (a)

    300

    (b)

    350

    (c)

    200

    (d)

    150

  28. The functional relationship between cost and output is expressed as _____.

    (a)

    Production function

    (b)

    Consumption function

    (c)

    Cost function

    (d)

    Distribution function

  29. Revenue means _________ revenue.

    (a)

    Marginal

    (b)

    Average

    (c)

    Sales

    (d)

    None

  30. In which type of market, AR and MR are equal _______

    (a)

    Duopoly

    (b)

    Perfect competition

    (c)

    Monopolistic competition

    (d)

    Oligopoly

  31. Perfect competition assumes ____________

    (a)

    Luxury goods

    (b)

    Producer goods

    (c)

    Differentiated goods

    (d)

    Homogeneous goods

  32. In monopolistic competition, the essential feature is ____________

    (a)

    Same product

    (b)

    Selling cost

    (c)

    Single seller

    (d)

    Single buyer

  33. The average revenue curve under monopolistic competition will be ____________

    (a)

    Perfectly inelastic

    (b)

    Perfectly elastic

    (c)

    Relaively

    (d)

    Unitary elastic

  34. Group of the firm is known as _________

    (a)

    Firm

    (b)

    Industry

    (c)

    Market

    (d)

    None of these

  35. Degrees of Price Discrimination given by ________ .

    (a)

    A.C. Pigou

    (b)

    J.M. Keynes

    (c)

    Joan Robinson

    (d)

    Edward Chamberlin

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

    (a)

    factors of production

    (b)

    Individual

    (c)

    firms

    (d)

    traders

  37. 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

  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. Loanable Funds Theory of Interest is called as ___________.

    (a)

    Classical Theory

    (b)

    Modern Theory

    (c)

    Traditional Theory

    (d)

    Neo-Clasical Theory

  40. The American economist ____________ modified and gave a new theory called time preference theory.

    (a)

    Alfred Marshall

    (b)

    Irving Fisher

    (c)

    Prof. Knight

    (d)

    Bohm Bawerk

  41. The minimum payment made to a particular factor of production to retain in its present use is known as___________.

    (a)

    Actual earnings

    (b)

    Transfer earnings

    (c)

    Surplu earnings

    (d)

    All the above

  42. Standard of living determines___________.

    (a)

    Wages

    (b)

    Interest

    (c)

    Income

    (d)

    All of these

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

    (a)

    GNP

    (b)

    GDP

    (c)

    NNP

    (d)

    Per capita income

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

    (a)

    Topography

    (b)

    Demography

    (c)

    Geography

    (d)

    Philosophy

  45. Density of population=______

    (a)

    Land area / Total Population

    (b)

    Land area / Employment

    (c)

    Total Population / Land area of the region

    (d)

    Total Population / Employment

  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. Human Development Index was developed by the Indian economist ______

    (a)

    Marshall

    (b)

    Mahbub ul Haq

    (c)

    J.M. Keynes

    (d)

    Amartya Sen

  48. ____________has low density of population of only 17 persons.

    (a)

    West Bengal

    (b)

    Bihar

    (c)

    Kerala

    (d)

    Arunachala pradesh

  49. V.K.R.V. Rao founded the 'Institute for Social and Economic change' at __________ 

    (a)

    Delhi

    (b)

    Bangalore

    (c)

    Bombay

    (d)

    Chandigarh

  50. The father of Green Revolution in India was __________

    (a)

    M.S. Swaminathan 

    (b)

    Gandhi

    (c)

    Visweswaraiah

    (d)

    N.R. Viswanathan

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

    (a)

    Service

    (b)

    Industrial

    (c)

    Agriculture

    (d)

    Bank

  52. The PQLI was developed by _________

    (a)

    Planning Commission

    (b)

    Nehru

    (c)

    Morris

    (d)

    Morris D. Biswajeet

  53. Mahalwari System was introduced in ______

    (a)

    1820

    (b)

    1800

    (c)

    1993

    (d)

    1793

  54. Industries were classified into __ groups.

    (a)

    One

    (b)

    Two

    (c)

    Three

    (d)

    Four

  55. Steel Authority of India Ltd (SAIL) was established in __

    (a)

    1864

    (b)

    1854

    (c)

    1818

    (d)

    1974

  56. The paper industry in India is ranked among the ___ top global paper industries.

    (a)

    10

    (b)

    15

    (c)

    20

    (d)

    25

  57. India is the____________________ largest country in the world in producing natural silk.

    (a)

    second

    (b)

    fourth

    (c)

    sixth

    (d)

    first

  58. _______________________five year plan aimed to double the per capita income of India.

    (a)

    second

    (b)

    Tenth

    (c)

    Elevanth

    (d)

    Sixth

  59. The First Indianmodernised cotton cloth mill was established at Fort Gloaster, near Calcutta in __________

    (a)

    1810

    (b)

    1812

    (c)

    1816

    (d)

    1818

  60. Agricultural Produce Market Committee is a _____.

    (a)

    Advisory body

    (b)

    Statutory body

    (c)

    Both 'a' and 'b'

    (d)

    None of these

  61. Financial sector reforms mainly related to____

    (a)

    Insurance sector

    (b)

    Banking sector

    (c)

    Both a and b

    (d)

    Transport sector

  62. The new economic policy is concerned with the following

    (a)

    Foreign investment

    (b)

    Foreign technology

    (c)

    Foreign trade

    (d)

    All the above

  63. 'The Hindu Rate of Growth' coined by Raj Krishna refers to______.

    (a)

    Low rate of economic growth

    (b)

    High proportion of Hindu population

    (c)

    Stable GDP

    (d)

    None

  64. The Goods and Services Tax Act come into effect on______

    (a)

    1st July 2017

    (b)

    1st July 2016

    (c)

    1st January 2017

    (d)

    1st January 2016

  65. The Chelliah Committee's report had suggested drastic reduction in______.

    (a)

    import duties

    (b)

    export duties

    (c)

    both (a) and (b)

    (d)

    none of the above

  66. EPZ indicates______.

    (a)

    Export Product Zone

    (b)

    Export Processing Zone

    (c)

    Export Price Zone

    (d)

    Export Zone

  67. SEZ covers

    (a)

    Agriculture

    (b)

    Industrial parks

    (c)

    Forestry

    (d)

    Industrial parks and high tech zones.

  68. Value Added Tax is ________ .

    (a)

    Multipoint tax

    (b)

    Single point tax

    (c)

    Direct tax

    (d)

    All the above

  69. As per the Special Economic Zones Act of 2005, the number of zones so far notified by the Government is about_______________

    (a)

    300

    (b)

    400

    (c)

    500

    (d)

    600

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

    (a)

    Panchayat

    (b)

    Village

    (c)

    Town

    (d)

    Municipality

  71. What percentage of the total population live in rural area, as per 2011 censes?

    (a)

    40

    (b)

    50

    (c)

    60

    (d)

    70

  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. In which year, Regional Rural Banks came into existence?

    (a)

    1965

    (b)

    1970

    (c)

    1975

    (d)

    1980

  75. ___________ is one of the basic needs of every family

    (a)

    Gold

    (b)

    Silver

    (c)

    House

    (d)

    Diamond

  76. The _________ forces the farmers to borrow for consumption as well as for cultivation.

    (a)

    Poverty Line

    (b)

    Vicious Circle of Poverty

    (c)

    Unemployment

    (d)

    None of these

  77. Small Scale Industrial Units with a Capital investment of not more than Rs. ___________ Lakhs.

    (a)

    Rs.7.50 Lakhs

    (b)

    Rs.6.50 Lakhs

    (c)

    Rs.1 Lakh

    (d)

    Rs.2 Lakhs

  78. India is the home to ____________ of the world's poor.

    (a)

    11%

    (b)

    22%

    (c)

    33%

    (d)

    10%

  79. Application of economic principles in rural areas known as__________economics.

    (a)

    Fiscal

    (b)

    Monetary

    (c)

    Rural

    (d)

    None

  80. Poverty is deepest among members of _____________ in the rural areas.

    (a)

    Scheduled castes and Tribes

    (b)

    Most Backward caste

    (c)

    Backward caste

    (d)

    All the above

  81. Which of the following cities does not have international airport?

    (a)

    Madurai

    (b)

    Tiruchirappalli

    (c)

    Paramakudi

    (d)

    Coimbatore

  82. Largest area of land is used in the cultivation of

    (a)

    Paddy

    (b)

    Sugarcane

    (c)

    Groundnut

    (d)

    Coconut

  83. In investment proposals filed by MSMEs, TN ranks

    (a)

    I

    (b)

    II

    (c)

    III

    (d)

    IV

  84. Which district has the lowest child sex ratio?

    (a)

    Madurai

    (b)

    Theni

    (c)

    Ariyalur

    (d)

    Cuddalore

  85. The Headquarters of Southern Railway is at

    (a)

    Tiruchirappalli

    (b)

    Chennai

    (c)

    Madurai

    (d)

    Coimbatore

  86. ------is the India's first biggest producer of rice.

    (a)

    Tamil Nadu

    (b)

    Kerala

    (c)

    West Bengal

    (d)

    Maharastra

  87. The major contribution of the Tertiary Sector GSDPin Tamil Nadu.

    (a)

    63.70%

    (b)

    61%

    (c)

    62.70%

    (d)

    70%

  88. ___________________________is the cloth market in South India for both retail and wholesale market.

    (a)

    Karur

    (b)

    Coimbatore

    (c)

    Erode

    (d)

    Trippur

  89. Tamil Nadu accounts for leather exports and production about__________________________in the country.

    (a)

    60%

    (b)

    80%

    (c)

    50%

    (d)

    70%

  90. The Asia's largest eco-friendly paper mill is____________.

    (a)

    National Paper Mills

    (b)

    International Paper APPM Limited

    (c)

    Subbu Paper Mills

    (d)

    TNPL

  91. A statement of equality between two quantities is called

    (a)

    Inequality

    (b)

    Equality

    (c)

    Equations

    (d)

    Functions

  92. Suppose determinant of a matrix Δ = 0, then the solution

    (a)

    Exists

    (b)

    Does not exists

    (c)

    is infinity

    (d)

    is zero

  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. Integration is the reverse process of

    (a)

    Difference

    (b)

    Mixing

    (c)

    Amalgamation

    (d)

    Differentiation

  96. ______ declared that he wanted to reduce political and economic matters in terms of number, weight and measure

    (a)

    Sir William Petty

    (b)

    G. Cramex

    (c)

    J.M. Keynes

    (d)

    Marshall

  97. A new slide can be inserted by 'click' on icon new slide' or using short cut key ____

    (a)

    Ctrl + M

    (b)

    Ctrl + Z

    (c)

    Ctrl + S

    (d)

    Ctrl + C

  98. lCT stands for ______

    (a)

    Information and communication Technology

    (b)

    Indian council for Technology

    (c)

    International communication Technology

    (d)

    Information course for Technique

  99. If X = -50 + 10P, then it is a ________________________ function

    (a)

    demand

    (b)

    supply

    (c)

    Identity

    (d)

    constant

  100. 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

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