Q.1. Collective consumption means-
(a) household consumption
(b) individual consumption
(c) self-consumption
(d) consumption by the citizens of the country
ans. (a)
Q.2. The word ' Oikonomia' means-
(a) household management
(b) individual management
(c) self-management
(d) fiscal management
ans. (a)
Q.3. Wage fund doctrine was propounded by :
(a) JB Say
(b) JS Mill
(c) JR Hicks
(d) JM Keynes
ans. (b)
Q.4. The main feature of a capitalist economy is :
(a) administered prices
(b) public ownership
(c) economic planning
(d) private ownership
ans. (d)
Q.5 Which of the following cost curve is never 'U' shaped?
(a) Marginal cost curve
(b) Average variable cost curve
(c) Average fixed cost curve
(d) Average cost curve
ans. (c)
Q.6. For an inferior good, demand falls when-
(a) price rises
(b) income rise
(c) price falls
(d) income falls
ans. (b)
Q.7. Which of the following would not constitute an economic activity in Economics?
(a) A teacher teaching students in his college
(b) A teacher teaching students in a coaching institute
(c) A teaching teaching his own daughter at home
(d) A teacher teaching students under Sarva Shiksha Abhiyan Scheme
ans. (c)
Q.8. The most distinguishing feature of oligopoly is-
(a) number of firms
(b) interdependence
(c) negligible influence on price
(d) price leadership
ans. (b)
Q.9. Under which market condition do firms have excess capacity?
(a) Perfect competition
(b) Monopolistic competition
(c) Duopoly
(d) Oligopoly
ans. (b)
Q.10. Which one of the following is not a method of measurement on National Income?
(a) Value Added Method
(b) Income Method
(c) Investment Method
(d) Expenditure Method
ans. (c)
(a) household consumption
(b) individual consumption
(c) self-consumption
(d) consumption by the citizens of the country
ans. (a)
Q.2. The word ' Oikonomia' means-
(a) household management
(b) individual management
(c) self-management
(d) fiscal management
ans. (a)
Q.3. Wage fund doctrine was propounded by :
(a) JB Say
(b) JS Mill
(c) JR Hicks
(d) JM Keynes
ans. (b)
Q.4. The main feature of a capitalist economy is :
(a) administered prices
(b) public ownership
(c) economic planning
(d) private ownership
ans. (d)
Q.5 Which of the following cost curve is never 'U' shaped?
(a) Marginal cost curve
(b) Average variable cost curve
(c) Average fixed cost curve
(d) Average cost curve
ans. (c)
Q.6. For an inferior good, demand falls when-
(a) price rises
(b) income rise
(c) price falls
(d) income falls
ans. (b)
Q.7. Which of the following would not constitute an economic activity in Economics?
(a) A teacher teaching students in his college
(b) A teacher teaching students in a coaching institute
(c) A teaching teaching his own daughter at home
(d) A teacher teaching students under Sarva Shiksha Abhiyan Scheme
ans. (c)
Q.8. The most distinguishing feature of oligopoly is-
(a) number of firms
(b) interdependence
(c) negligible influence on price
(d) price leadership
ans. (b)
Q.9. Under which market condition do firms have excess capacity?
(a) Perfect competition
(b) Monopolistic competition
(c) Duopoly
(d) Oligopoly
ans. (b)
Q.10. Which one of the following is not a method of measurement on National Income?
(a) Value Added Method
(b) Income Method
(c) Investment Method
(d) Expenditure Method
ans. (c)
