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 basic assumption regarding resources while drawing a PPC is
  • A
    Resources are constant and given
    Correct
  • B
    Resources are unlimited
  • C
    Resources depend on the kind of goods produced
  • D
    Resources can be put to a particular use
2
A PPC is downward sloping and____________ to the origin. Choose the correct option.
  • A
    Inverse U shaped
  • B
    Concave
    Correct
  • C
    U shaped
  • D
    Convex
3
What is the other name for opportunity cost in economics
  • A
    Marginal cost
  • B
    Total Cost
  • C
    Economic cost
    Correct
  • D
    Economic problem
4
In a centrally planned economy, the central problems are solved by
  • A
    Demand for goods
  • B
    Planning authority
    Correct
  • C
    Market mechanism
  • D
    Supply of goods
5
In a market economy, the central problems are solved by
  • A
    Planning authority
  • B
    Demand for goods
  • C
    Market mechanism
    Correct
  • D
    Supply of goods
6
An economy always produces on, but not inside a PPC.
  • A
    False
  • B
    Occasionally
  • C
    Can’t say
  • D
    True
    Correct
7
The study of jute industry is a macroeconomic study. This statement is
  • A
    Can’t say
  • B
    True
  • C
    Conditional
  • D
    False
    Correct
8
Price determination of a commodity is a subject matter of microeconomics.
  • A
    True
    Correct
  • B
    False
  • C
    Conditional
  • D
    Can’t say
9
The study of general price level is a macroeconomic study. This statement is
  • A
    False
  • B
    Conditional
  • C
    True
    Correct
  • D
    Can’t say
10
Which central problem explains ‘who gets more and who gets less’?
  • A
    How to produce
  • B
    Scarcity of resources
  • C
    For whom to produce
    Correct
  • D
    What to produce
11
Any allocation of resources result in
  • A
    Wastage of resources
  • B
    Production of goods and services
    Correct
  • C
    Consumption of goods
  • D
    Inefficient utilization
12
Who gets how much in an economy is best described by which of the following central problems?
  • A
    What to produce
  • B
    For whom to produce
    Correct
  • C
    How to produce
  • D
    Scarcity of resources
13
The positive economic analysis deals with the variables
  • A
    As they seem to be
  • B
    As they are expected
  • C
    As they should be
  • D
    As they are
    Correct
14
Microeconomics studies the behaviour of
  • A
    Planned economies
  • B
    Individual economic unit
    Correct
  • C
    Individual economy
  • D
    Mixed economies
15
The subject of a Macroeconomic study is
  • A
    Planned economies
  • B
    Individual economy
  • C
    Mixed economies
  • D
    Individual economic unit
    Correct