NCERT Class 11 Chapter 1 Economics Introduction to Micro Economics MCQ

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1. Which Economist divided Economics in two branches of micro and macro on the basis of economic activity?

A. Marshall

C. Ricardo

C. Ragnar Frish

D. None of these

2. Which of the following is studied under Micro Economics ?

A. Individual unit

B. Economic Aggregate

C. National Income

D. None of these

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

A. Economic Activities related to Unlimited Wants

B. Economic Activities related to Limited Resources

C. Both (a) and (b)

D. None of these

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

A. Unlimited Wants

B. Limited Resources

C. Both (a) and (b)

D. None of the above

5. ‘Micros’, which means ‘Small’ belongs to

A. Arabian word

B. Greek word

C. German word

D. English word

6. Which of the following statement is true?

A. Human wants are infinite

B. Resources are limited

C. Scarcity problem gives birth to choice

D. All of these

7. Which of the following is the salient feature of factors (or resources) ?

A. These are limited as compared to wants

B. These have alternative uses

C. Both (a) and (b)

D. None of the above

8. Which is a central problem of an economy ?

A. Allocation of Resources

B. Optimum Utilisation of Resources

C. Economic Development

D. All of these

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

A. Production

B. Consumption

C. Exchange and Investment

D. All of these

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

A. Choice

B. Consumer’s Selection

C. Firm Selection

D. None of these

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11. Economy may be classified as:

A. Capitalist

B. Socialist

C. Mixed

D. All of these

12. Which economy has a co-existence of private and public sectors ?

A. Capitalist

B. Socialist

C. Mixed

D. None of these

13. The main objective of a socialist economy is…….

A. Maximum production

B. Economic freedom

C. Earning profit

D. Maximum public welfare

14. In which economy decisions are taken on the basis of price mechanism ?

A. Socialist

B. Capitalist

C. Mixed

D. All of these

15. The slope of a production possibility curve falls:

A. From left to right

B. From right to left

C. From top to bottom

D. From bottom to top

16. Production Possibility Curve is:

A. Concave to the axis

B. Convex to the axis

C. Parallel to the axis

D. Vertical to the axis

17. Mention the name of the curve which shows economic problem:

A. Production Curve

B. Demand Curve

C. Indifference Curve

D. Production Possibility Curve

18. Which of the following Is a branch of Micro Economics ?

A. Product Price Determination

B. Factor Price Determination

C. Economic Welfare

D. All of these

19. Which of the following is a source of production ?

A. Land

B. Labour

C. Capital

D. All of these

20. Who said, “Economics is a science of wealth.”

A. Marshall

B. Robbins

C. Adam Smith

D. J.K. Mehta

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21. “Economics is a science of logic.’’ Who said it ?

A. Hicks

B. Keynes

C. Robbins

D. Marshall

22. Micro Economics includes:

A. Individual unit

B. Small units

C. Individual price determination

D. All of these

23. Who was the father of Economics ?

A. I. B. Say

B. Malthus

C. Adam Smith

D. Joan Robinson

24. Who gave the definition of Economics related to welfare ?

A. Adam Smith

B. Marshall

C. Robbins

D. Samuelson

25. The word ‘micro’ was firstly used by:

A. Marshall

C. Boulding

C. Keynes

D. Ragnar Frish