124 Created on : सितंबर 29, 2024 | By CB.IN Mock Test PASSAGE -1 Pick out the word that is most nearly the opposite in meaning of the word given in capitals. 1. Which one of the following is not a factor of production? (A) Land. (B) Money. (C) Labour. (D) Capital. 2. Shape of Production Possibility Curve (PPC) is (A) Convex to the axis. (B) Concave to the axis. (C) Parallel to the axis. (D) Vertical to the axis. 3. What is the central problem of economy? (A) Allocation of resource. (B) Optimum Utilisation of resources. (C) Economics development. (D) All of these. 4. The word Micro’ was first used by (A) Marshall. (B) Boulding. (C) Keynes. (D) Ragnar Frish. 5. Which of these is not a central problem of economy? (A) What to produces. (B) When to produce. (C) How to produces. (D) For whom to produce. 6. Who gave the definition of Economics of wealth? (A) Adam Smith. (B) Marshall. (C) Robbins. (D) Samuelson. 7. Which economists divided Economics in two branches Micro and Macro on the basis of economic activity? (A) Marshall. (B) Ricardo. (C) Robbins. (D) None of these. 8. The Branch of economics that deals with the study of problem of the economy as a whole is called (A) Microeconomics. (B) Macroeconomics. (C) Both (a) and (b). (D) Indian economy. 9. Which of following is studied under the Microeconomics? (A) Individual unit. (B) Economic aggregates. (C) National income. (D) All of above. 10. What is the central problem of the economy? (A) Allocation of resources. (B) Optimum utilization of resources. (C) Economic development. (D) Economic development. 11. To which factor, economic problem is mostly related? (A) Choice. (B) Consumer selection. (C) Firm selection. (D) None of these. 12. Which is not the economic system? (A) Govt. economy. (B) Socialistic economy. (C) Capitalistic economy. (D) Mixed economy. 13. In which economy decisions are taken on the basis of price mechanism? (A) capitalistic. (B) Socialistic. (C) Mixed economy. (D) All the above. 14. India is a (A) Socialistic economy. (B) Capitalistic economy. (C) Mixed economy. (D) None of above. 15. What is PPC? (A) Production probable cost. (B) Production product cost. (C) Production possibility curve. (D) Product production cost. 16. Production possibility curve is (A) Concave to axis. (B) Convex to axis. (C) Parallel to axis. (D) Vertical to axis. 17. Which of following is falling under the microeconomics? (A) National income. (B) General price level. (C) Factor pricing. (D) National savings and investments. 18. Mention the name of the curve that shows economic problem. (A) Production curve. (B) Demand curve. (C) Indifference curve. (D) Production possibility curve. 19. Which of following economy is also called planned economy? (A) Socialistic economy. (B) Capitalistic economy. (C) Mixed economy. (D) None of above. 20. Under a free economy, Prices are (A) Regulated. (B) Partly regulated. (C) Determined by free interplay of demand and supply. (D) None of above. 21. Rich people should be taxed more." is an example of (A) Positive economic analysis. (B) Normative economic analysis. (C) Productive economic analysis. (D) None of above. 22. If MOC remains constant, PPF is sloping straight line. (A) Upward. (B) Downward. (C) Central. (D) Behind. 23. What is the other name used for the Microeconomics? (A) Theory of price. (B) Theory of employment and income. (C) Theory of savings and investments. (D) Theory of MOC. 24. Main objective in planned economy regarding production is (A) Maximization of profits. (B) Social welfare. (C) Minimum costs. (D) All of above. 25. Shortage of resources in relation to demand means______. (A) Unlimited wants. (B) Limited wants. (C) Choice unlimited. (D) Scarcity. Submit Reset Tags -
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