Class XI Eco Test Paper Part II

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Class XI Eco Test Paper Part II - 2021

INTRODUCTION

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1. Which of the following is related to Microeconomics? *

1 point

Inflation in the economy

Unemployment Problem

National income

Income from Postal department

2. Which of the following is a cause of economic problem? *

1 point

Scarcity of Resources

Unlimited wants

Alternative Uses

All of these

3. Which of the following is not a central problem of economy? *

1 point

How to produce

When to produce

What to produce

For whom to produce

4. Which of the following illustrates a decrease in the unemployment using the PPC? *

1 point

A movement down along the PPC

A rightward shift of the PPC

A movement from a point on the PPC to a point inside the PPC

A movement from a point inside the PPC to point towards the PPC

5. The Problem of what to produce covers the issue relating to: *

1 point

What goods are to be produced

What quantities of goods to be produced

Both (a) and (b)

Nether (a) nor (b)

6. Consider the following table: Production Possibilities A B C D E Guns (Units) 0 1 2 3 4 Butter (units) 10 9 7 4 0 (i) The opportunity cost of increasing guns production from 2 to 3 units is ____ units of better *

1 point

(ii) All possibilities A to E deal with: *

1 point

Full use of available resources

Under-utilization of available resources

No use of available resources

Demand for more resources

(iii) If some other point say G, the economy produces 2 units of guns and 6 units of butter, then: *

1 point

It represent under-utilization of resources

Economy would operate at a point below PPF

Both (a) and (b)

Neither (a) nor (b)

(iv) If the above points A to E are depicted on a graph then such PPF would be: *

1 point

convex to the origin

Concave to the origin

Straight line

Rectangular hyperbola

7. Economics is the study of: *

1 point

How society manages it unlimited resources

How to reduce our wants until we are satisfied

How society manages its scarce resources

How to fully satisfy our limited wants

8. Which point on the following PPC Shows a “Productively efficient’ level of output? *

1 point

All of these

9. In deciding “How to Produce’, the economy should consider: *

1 point

Labour Intensive Techniques

Capital Intensive Techniques

Both (a) and (b)

Nether (a) nor (b)

10. Opportunity Costs arise: *

1 point

When there is only course of action

When there are two or more alternative courses

Both (a) and (b)

Neither (a) nor (b)

11. Which of these statement is true about production possibility curve? *

1 point

It shows various combinations of two goods which yield same level of satisfaction.

It shows various combination of two goods which an economy can produce with a given Amount of resources and technology.

It shows various combination of two goods which an economy can produce with a given Budget.

It shows various combination of two goods which an economy can produce with a given Time.

12. the Production Possibility Frontier is generally: *

1 point

Convex Shaped Downward Sloping

Concave Shaped Downward Sloping

Either (a) or (b)

Neither (a) nor (b)

13. Due to Make in India, there has been large inflow of foreign capital. It will lead to the Following change in PPC: *

1 point

14. This shift in PPC is caused due to: *

1 point

Increase in re Resources for production both the goods

Increase in resources production of Butter only

Increase in resources for production of guns only

None of these

15. In case of decreasing MRT, the shape shape of PPC will be depicted by the following Diagram: *

1 point

16. the following change in PPC is due to *

1 point

Massive Unemployment

Destruction of Resources

Increase in Resources

Fuller Utilization of Resources

17. In the order of sequence, the points of “Underutilisation ‘ abd ‘Unattainable’ are: *

1 point

A and F

F and E

D and E

E and F

18. Which of the following is an assumption of Production Possibility Frontier? *

1 point

Resources are not fully employed.

Resources are not equally efficient for production of the two goods.

Resources are not efficiently employed.

Resources available are not fixed.

19. Macroeconomics focuses on all of the following except: *

1 point

Unemployment Problem

Inflation in the Economy

Aggregate Demand

Jute Industry

20. Which of the following is an example of a Positive Economy: *

1 point

India should take steps to control rising prices

There are inequalities of income in our country

India should not be an overpopulated country

Income inequalities should be reduced

21. The statements like ‘Economy should control Pollution’ Unemployment in the economy Ought to be reduced’ fall within the scope of: *

1 point

Normative Statements

Positive Statements

Both (a) and (b)

None of these

22. An economy has 2 alternatives of Production from the available resources: (i) 20x +1Y or (ii)18x + 2y. If the economy chooses the second alternative, then what is the MOC of Producing Y: *

1 point

None of these

23. The opportunity Cost arises: *

1 point

When there is just one alternative

When there are two or more alternatives

Either (a) or (b)

None of these

24. In the context of rising prices, following statements are made by two people: Udit.: Prices in the economy are continuously rising; Shivam: The Government should take reasonable steps to control rising prices. Identify the statements as Positive Statement and Normative Statement. *

1 point

Udit: Positive; Shivam: Normative

Udit: Normative; Shivam Positive

Both are Positive Statements

Both are Normative Statements

25. Production Possibility Frontier is: *

1 point

Downward Sloping

Concave Shaped

Both (a) and (b)

Either (a) or (b)

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