CBSE Class 11 Introduction to Micro Economics Multiple Choice Questions with Answers. MCQ Questions Class 11 Introduction to Micro Economics with Answers Is Prepared Based on Latest Exam Pattern. Students can solve NCERT MCQ questions Class 11 Introduction to Micro Economics with Answers to know their preparation level.
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MCQ Questions Class 11 Introduction to Micro Economics with Answers - Set - 4
Question 1:
The branch of economic theory, that deals with the
(a) problem of allocation of resources is :
(b) Micro Economics
(c) Macro Economics
(d) Econometrics
Correct Answer – (A)
Question 2:
In which type of economy do consumers and producers make their choices based on the market forces of demand and supply?
(a) Open Economy
(b) Controlled Economy
(c) Command Economy
(d) Market Economy
Correct Answer – (D)
Question 3:
The point of optimum utilization of resources lies on which side of PPC curve:
(a) Towards left
(b) Towards right
(c) Inside
(d) Upwards
Correct Answer – (D)
Question 4:
What is the shape of production possibility curve:
(a) Concave to the origin
(b) Concave
(c) Straight line
(d) None of the above.
Correct Answer – (A)
Question 5:
Who used the word ‘micro’ for the first time:
(a) Marshall
(b) Boulding
(c) Keynes
(d) Ragnar Frisch
Correct Answer – (D)
MCQ Questions Class 11 Introduction to Micro Economics With Answers
Question 6:
A study of how increase in the corporate income tax rate , will affect the natural unemployment rate is an example of :
(a) Macro Economics
(b) Descriptive Economics
(c) Micro Economics
(d) Normative Economics
Correct Answer – (A)
Question 7:
Under a free economy, prices are :
(a) Regulated
(b) etermined through free interplay of demand and supply
(c) Partly regulated
(d) None of these
Correct Answer – (B)
Question 8:
The reason for downward shape of production possibility curve is:
(a) Increasing opportunity cost
(b) Decreasing opportunity cost
(c) Same opportunity cost
(d) Negative opportunity cost
Correct Answer – (B)
Question 9:
Who said economics is the ‘Science of wealth:
(a) Prof. Robbins
(b) Prof. J.K. Mehta
(c) Prof. Marshall
(d) Prof. Adam Smith
Correct Answer – (D)
Question 10:
Indian economy is:
(a) Centrally planned economy
(b) Market economy
(c) Mixed economy
(d) None of these.
