11th Standard EM - Economics - Introduction To Micro-Economics

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Question - 1

Economics is a study of mankind in the ordinary business of life - It is the statement of

  • A Adam Smith
  • B Lionel Robbins
  • C Alfred Marshall
  • D Samuelson

Question - 2

The basic problem studying in Economics is

  • A Unlimited wants
  • B Unlimited means
  • C Scarcity
  • D Strategy to meet all our wants

Question - 3

Micro Economics is concerned with

  • A The economy as a whole
  • B Different sectors of an economy
  • C The study of individual economic units behaviour
  • D The interactions within the entire economy

Question - 4

Which of the following is a micro economics statement?

  • A The real domestic output increased by 2.5 percent last year
  • B Unemployment was 9.8 percent of the labour force last year
  • C The price of wheat determines its demand
  • D The general price level increased by 4 percent last year

Question - 5

Find the odd one out

  • A "An Inquiry into the Nature and the Causes of the Wealth of Nations".
  • B "Principles of Economics"
  • C "Nature and Significance of Economic science"
  • D "Ceteris Paribus"

Question - 6

The equilibrium price is the price at which

  • A Everything is sold
  • B Buyers spend their money
  • C Quantity demanded equals quantity supplied
  • D Exess demand is zero

Question - 7

Author of "An inquiry into the Nature and causes of wealth of Nations"

  • A Alfred Marshall
  • B Adam Smith
  • C Lionel Robbins
  • D Paul A Samuelson

Question - 8

"Economics studies human behaviour as a relationship between ends and scarce means which have alternative uses" is the definition of economics of

  • A Lionel Robbins
  • B Adam Smith
  • C Alfred Marshall
  • D Paul A Samuelson

Question - 9

Who is the father of Economics?

  • A Max Muller
  • B Adam Smith
  • C Karl Marx
  • D Paul A Samuelson

Question - 10

Economics is a science" the basis of this statement is

  • A Relation between cause and effect
  • B Use of dedective method and inductive method for the formations of laws
  • C Experiments
  • D All of the above