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Class 12 Economics (Macro Economics) Chapter 1 Introduction Quiz 3 (60 MCQs)

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1. India is an overpopulated country.
2. Identify the central prblm which deals with deciding the Quantity of goods to be produced
3. Which one of the following is a subject matter of Micro Economics?
4. ..... is the balance between two factors.
5. Neo classical economist
6. You and all of your friends walk into a room, there are only 2 chairs and there are 6 of you. There are unlimited wants (all of you) but limited resources (only 2 chairs) Select one:
7. A producer asking the question, "Should we use glass or interchangeable plastic on the face of our new phone?" is a
8. The basic factors of production are land, labour, capital, and .....
9. Economic activity means
10. Macro economic variable
11. Who is the father of modern macro economics
12. The organization that has a combination of manpower, financial, and physical resources that helps the management in decision making
13. What is an Open Economy?
14. The central problem in economics is:
15. The sector which owns factor services
16. The economist who used the terms micro and macro first time
17. Which type of economy has the MOST government involvement?
18. Which of the following is microeconomics study?
19. The study of aggregate income and expenditures and the Per Capita income of one country
20. Which of the following is a Recreational Activities?
21. Production is concerned with
22. Rima had 500 rupees. She bought water and food for her house. She then bought notebooks for her classwork. She recharged her phone so that she could study. When her friend asked if she wants to buy toys she said no. What did Rima do?
23. Nabeeha is interested in knowing the level of unemployment in India.
24. In order to have everything we could ever want we would need
25. The field in applied economics in which quantitative methods and economic theory to analyze business enterprises
26. The cost advantages a firm obtains as a result of expansion
27. The economy, in which the market plans all the important activities is known as the .....
28. Micro economics is the study of ..... Units
29. Word 'Resource' in Economics implies
30. The condition of consumer equilibrium under cardinal approach in case of one commodity is
31. Which of the following is an example of a positive economics
32. When unemployment is high, what can the government do to help?
33. Positive statements are the statements of truth
34. What determines the total amount of employment and unemployment?
35. Which of these is not assumption of PPC?
36. Which goal of national economies looks to maximize the benefit of resources while preventing waste?
37. Concepts studies under micro economics
38. ..... arises where having more of one thing potentially results in having less of another.
39. How are resources allocated in a a market economy?
40. Studying the choices a family makes to buy goods is an example of .....
41. Penurunan nilai rupiah terhadap mata uang asing disebut dengan .....
42. Which part of economic theory aims to determine income and employment level of th eeconomy
43. Scarcity can best bedefined as
44. The economy in which the government or the central authority plans all the important activities is knows as the .....
45. When unlimited wants is greater than limited resources it is know as?
46. Which of these questions are not part of the core economic questions?
47. Micro economics helps in determining the factor rewards for land, labour, capital, and entrepreneur.
48. Macro Economics helps in ..... formulation
49. If there is unemployment, economy would be producing ..... the PPC.
50. Micro word is derived from
51. Economic Growth is a ..... concept
52. The fundamental economic prblm which is being faced is
53. Microeconomics is that part of economic theory which studies the behaviour of ..... units of an economy.
54. Voluntary exchange is the free and willing exchange of goods and services where both parties .....
55. Rational decision means:consumers buy the type of goods that the average person buys
56. Quantity measured at a point of time
57. Which of the following Is the cause of economic prblm
58. In which Economic Analysis, we study how the different mechanisms function?
59. Great depression of ..... led to fall in output and employment
60. Who controls economic activities under centrally planned economy?
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