Introduction to Micro Economics MCQ Questions for Class 11 Ecomonics Chapter 1 with Answers

We have completed the NCERT/CBSE chapter-wise Multiple Choice Questions for Class 11 Ecomonics book Chapter 1 Introduction to Micro Economics with Answers by expert subject teacher for latest syllabus and examination. You can Prepare effectively for the exam taking the help of the Class 11 Ecomonics Objective Questions PDF free of cost from here. Students can take a free test of the Multiple Choice Questions of Introduction to Micro Economics. Each Questions has four options followed by the right answer. Download the Ecomonics Quiz Questions with Answers for Class 11 free Pdf and prepare to exam and help students understand the concept very well.

MCQ Questions for Class 11 Ecomonics with Answers: Introductory Microeconomics

Q1. Under a free economy, prices are :

(i) Regulated
(ii) etermined through free interplay of demand and supply
(iii) Partly regulated
(iv) None of these

(ii) etermined through free interplay of demand and supply

Q2. In which type of economy do consumers and producers make their choices based on the market forces of demand and supply?

(i) Open Economy
(ii) Controlled Economy
(iii) Command Economy
(iv) Market Economy

(iv) Market Economy

Q3. A study of how increase in the corporate income tax rate , will affect the natural unemployment rate is an example of :

(i) Macro Economics
(ii) Descriptive Economics
(iii) Micro Economics
(iv) Normative Economics

(i) Macro Economics

Q4. The branch of economic theory, that deals with the

(i) problem of allocation of resources is :
(ii) Micro Economics
(iii) Macro Economics
(iv) Econometrics

(i) problem of allocation of resources is

Q5. ‘Economics is the study of mankind in the ordinary business of life’. This definition was given by :

(i) Adam Smith
(ii) Lord Robbins
(iii) Alfred Marshall
(iv) Samuelson

(iii) Alfred Marshall

Q6. What do you mean by a mixed economy?

(i) Modern and traditional industries
(ii) Public and private sectors
(iii) Foreign and domestic investments
(iv) Commercial and subsistence farming

(ii) Public and private sectors

Q7. Positive economics involves statements which are

(i) verifiable
(ii) not verifiable
(iii) may or may not be verified
(iv) none of these

(i) verifiable

Q8. Issues related to unemployment are studied at the

(i) micro-level
(ii) macro-level
(iii) micro as well as macro-level
(iv) none of the above

(ii) macro-level

Q9. Example of microeconomic variable is:

(i) Wholesale price index
(ii) National Income
(iii) Market demand
(iv) Aggregate Demand

(iii) Market demand

Q10. hich economy has a co-existence of private and public sectors ?

(i) Capitalist
(ii) Socialist
(iii) Mixed
(iv) None of these

(iii) Mixed

Q11. Economy may be classified as:

(i) Capitalist
(ii) Socialist
(iii) Mixed
(iv) All of these

(iv) All of these

Q12. To which factor, economic problem is basically related to:

(i) Choice
(ii) Consumer’s Selection
(iii) Firm Selection
(iv) None of these

(i) Choice

Q13. Which of the following Is a type of economic activities ?

(i) Production
(ii) Consumption
(iii) Exchange and Investment
(iv) All of these

(iv) All of these

Q14. Which is a central problem of an economy ?

(i) Allocation of Resources
(ii) Optimum Utilisation of Resources
(iii) Economic Development
(iv) All of these

(iv) All of these

Q15. Which of the following statement is true?

(i) Human wants are infinite
(ii) Resources are limited
(iii) Scarcity problem gives birth to choice .
(iv) All of these

(iii) Scarcity problem gives birth to choice

Q16. ‘Micros’, which means ‘Small’ belongs to:

(i) Arabian word
(ii) Greek word
(iii) German word
(iv) English word

(ii) Greek word

Q17. On which base structure of economic problems has been installed?

(i) Unlimited Wants
(ii) Limited Resources
(iii) Both (i) and (ii)
(iv) None of the above

(iii) Both (i) and (ii)

Q18. Which of the following economic activities are included in the subject-matter of Economics?

(i) Economic Activities related to Unlimited Wants
(ii) Economic Activities related to Limited Resources
(iii) Both (i) and (ii)
(iv) None of these

(iii) Both (i) and (ii)

Q19. Which of the following falls under microeconomics?

(i) National income
(ii) General price level
(iii) Factor pricing
(iv) National saving and investmen

(iii) Factor pricing

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