Introduction To Economics CBSE Questions & Answers

Introduction To Economics

This is Economics Class 12 Introduction to Economics CBSE Questions & Answers. There are 15 questions in this test with each question having around four answer choices.

Questions & Answers

1
The normative economic analysis deals with the variables
  • A
    As they are
  • B
    As they should be
    Correct
  • C
    ne of these
  • D
    As they were
2
As they see Opportunity cost means
  • A
    The best alternative use of a resource
  • B
    Next best alternative foregone
    Correct
  • C
    Cost of a resource used in production
  • D
    The money value of an opportunity in producing a good
3
A Production Possibility Frontier shifts rightward if
  • A
    Both of these
  • B
    Resources increase
    Correct
  • C
    Technology improves
  • D
    None of these
4
The problem of ‘ How to produce’ is making a choice between
  • A
    Labour intensive methods
  • B
    Both of these
  • C
    Capital Intensive methods
    Correct
  • D
    None of these
5
What to produce also deal with what quantities to produce.
  • A
    No
  • B
    Can’t say
  • C
    Yes
    Correct
  • D
    May be
6
Can there be an economy without economic problems
  • A
    Yes
  • B
    Can’t say
  • C
    sometimes
  • D
    No
    Correct
7
A movement along a PPC implies
  • A
    Redistribution of wealth
  • B
    Reallocation of income
  • C
    Reallocation of resources
    Correct
  • D
    Redistribution of technology
8
Increasing MOC mean
  • A
    Straight PPC
  • B
    Convex PPC
  • C
    Inverted PPC
  • D
    Concave PPC
    Correct
9
Larger production of ___________ goods would lead to higher production in the future.
  • A
    Capital
    Correct
  • B
    Electricity
  • C
    Nuclear Power
  • D
    Coal
10
The branch of economics dealing with the problem of allocation of resources is
  • A
    Scarcity Concept
  • B
    Allocation of resources
  • C
    Microeconomic Theory
    Correct
  • D
    Macroeconomic Theory
11
Labour intensive technique would get chosen in
  • A
    Developed economies
  • B
    Capital surplus economy
  • C
    Developing economies
  • D
    Labour surplus economy
    Correct
12
Capital intensive technique would get chosen in
  • A
    Developing economies
  • B
    Developed economies
  • C
    Capital surplus economy
    Correct
  • D
    Labour surplus economy
13
The basic economic problem arises in
  • A
    Socialist economies
  • B
    Mixed Economies
  • C
    All Economies
    Correct
  • D
    Market Economies
14
What causes an economy to produce more of Good X and no less of Good Y?
  • A
    Good X becomes cheaper
  • B
    Technology to produce Good X improves
    Correct
  • C
    Technological development
  • D
    Good Y becomes expensive
15
Does production takes place only on PPC?
  • A
    Can’t say
  • B
    No
  • C
    Sometimes
  • D
    Yes
    Correct