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Class 12 Economics (Macro Economics) Chapter 1 Introduction Quiz 4 (25 MCQs)

Quiz Instructions

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1. The slope of indifference curve is equal to
2. Normative economics deals with:
3. Which of the following is not central economic problem.
4. Although water is useful yet it is cheap. On the contrary diamond is not much of use, still it is very expensive ..... The reason for this paradox is scarcity.
5. The government does not interfere in the process of decision making under:
6. ..... is the responsiveness of the quantity demanded (QD) of a product to a change in its own price (P).
7. Any point beyond PPF shows
8. Good economic decisions are made when the benefits of a choice are greater than the
9. Who provides top leadership for the Federal Reserve?
10. Wants are
11. Scarcity definition was given by:
12. How many stages in trade cycle
13. Word micro and macro is derived from
14. Positive economics involves statements which are:
15. Whcihc of the following is an economic activity?
16. The graph used to illustrate the impact of scarcity on the economy is known as a:
17. The science of economics was born with the publication of Adam Smith's an Inquiry into the Nature and Causes of Wealth of Nations in the year
18. In Which Economic Analysis, We try to understand whether the given working mechanisms are desirable or not?
19. Scarcity arises when
20. Which of the following can not be called a central problem of an economy?
21. PPC shifts rightward/Outward when:
22. When production in below the production possibility frontier it is said to be
23. It helps in covering the gap between the problems of logic and the problems of policy
24. 1, What is the shape of a production possibility curve?
25. Cost that do not vary with the amount of output produced
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