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Class 11 Economics
Introduction To Micro Economics
Quiz 1
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Which Economist divided Economics in two branches of micro and macro on the basis of economic activity?
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Marshall
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Ricardo
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Ragnar Frish
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None of these
Explanation
None of these
Which of the following is studied under Micro Economics ?
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Individual unit
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Economic Aggregate
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National Income
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None of these
Explanation
None of these
Which of the following economic activities are included in the subject-matter of Economics?
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Economic Activities related to Unlimited Wants
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Economic Activities related to Limited Resources
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Both (a) and (b)
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None of these
Explanation
Both (a) and (b)
On which base structure of economic problems has been installed?
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Unlimited Wants
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Limited Resources
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Both (a) and (b)
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None of the above
Explanation
Both (a) and (b)
‘Micros’, which means ‘Small’ belongs to:
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Arabian word
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Greek word
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German word
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English word
Explanation
Greek word
Which of the following statement is true?
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Human wants are infinite
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Resources are limited
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Scarcity problem gives birth to choice .
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All of these
Explanation
Scarcity problem gives birth to choice
Which of the following is the salient feature of factors (or resources) ?
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These are limited as compared to wants
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These have alternative uses
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Both (a) and (b)
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None of the above
Explanation
Both (a) and (b)
Which is a central problem of an economy ?
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Allocation of Resources
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Optimum Utilisation of Resources
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Economic Development
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All of these
Explanation
All of these
Which of the following Is a type of economic activities ?
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Production
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Consumption
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Exchange and Investment
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All of these
Explanation
All of these
To which factor, economic problem is basically related to:
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Choice
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Consumer’s Selection
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Firm Selection
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None of these
Explanation
Choice
Economy may be classified as:
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Capitalist
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Socialist
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Mixed
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All of these
Explanation
All of these
Which economy has a co-existence of private and public sectors ?
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Capitalist
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Socialist
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Mixed
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None of these
Explanation
Mixed
The main objective of a socialist economy is…….
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Maximum production
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Economic freedom
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Earning profit
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Maximum public welfare
Explanation
Maximum public welfare
In which economy decisions are taken on the basis of price mechanism ?
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Socialist
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Capitalist
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Mixed
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All of these
Explanation
Capitalist
The slope of a production possibility curve falls:
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From left to right
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From right to left
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From top to bottom
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From bottom to top
Explanation
From top to bottom
Production Possibility Curve is:
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Concave to the axis
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Convex to the axis
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Parallel to the axis
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Vertical to the axis
Explanation
Concave to the axis
Mention the name of the curve which shows economic problem:
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Production Curve
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Demand Curve
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Indifference Curve
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Production Possibility Curve
Explanation
Production Possibility Curve
Which of the following is studied under Macro Economics ?
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National Income
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Full. Employment
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Total Production
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All of these
Explanation
All of these
Which of the following Is a branch of Micro Economics ?
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Product Price Determination
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Factor Price Determination
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Economic Welfare
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All of these
Explanation
All of these
Which of the following is a source of production ?
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Land
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Labour
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Capital
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All of these
Explanation
All of these
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