Test Details

Basic Problems of an Economy

Jan 31, 8:00 PM

30 minutes

Jan 31, 8:35 PM

50.0 marks

MCQ

50 questions

Sonu classes

Professional

Class Details

Accountancy

Economics

Mathematics

Business Studies

CLASS- XII Batch 2022-23

Accountancy

Economics

Mathematics

Business Studies

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Question Text

Question 1 :
Which of the following cannot be treated as factor of production?

Question 2 :
Most of the people of India are associated with which sector of economy?

Question 4 :
Which of the following is not a central problem of a society?

Question 5 :
Which of the following would result in a rightward shift of the PPC?

Question 6 :
Consider the following statements (a) Democracy promotes equality and freedom of expression. (b) In non-democratic countries people cannot freely choose their leaders. (c) The relationship between different countries has. become more democratic than ever before (d) Nowadays there is not any military government in the world. Which of the above statements are correct?

Question 7 :
The factors of production may be defined as resources which help the firms to produce goods or services.

Question 8 :
Resources used by businesses to produce goods and services whether durable or non-durable are known as _______.

Question 10 :
Any point beyond the PPF is not attainable due to ______.

Question 15 :
The price given for labour is usually called salaries and wages.

Question 18 :
Production is organised by combining land, labour, physical capital and human capital, which are known as _____.

Question 20 :
When we say rate of product transformation we refers to ______.

Question 22 :
The problem of what goods and services are produced and how much, is covered by the general term ________.

Question 23 :
The central problem of how to produce is resolved by _________.

Question 27 :
The most important economic problem is that the resources used to satisfy our wants are limited in supply.

Question 29 :
The basic economic questions that every society must address include which of the following?

Question 30 :
If an economy is working at a point left to PPF curve it shows that ______.

Question 33 :
If production possibility curve is a straight horizontal line it means _______.

Question 34 :
The central problem of an economy of 'what to produce' is an alternative problem of ________________.

Question 36 :
The problem of economics arises from which of the following reasons?

Question 37 :
Which of the following refers directly to the concept of scarcity?

Question 40 :
If there is a production method with improved efficiency, holding all else constant, ______.

Question 41 :
If production possibilities frontier shifted to the right, this would show _______.

Question 42 :
If a firm is operating at any point inside the PPF, the firm is _______.

Question 43 :
Maintaining the production of one goods at the same level and increasing the production of other goods is possible only ______.

Question 45 :
The questions like what? how? and for whom? arise due to the existence of ______.

Question 46 :
Which of the following is a central problem of every economy?

Question 47 :
If an economy is producing a combination of goods that lies below PPC, it shows ____________.

Question 48 :
Which of the following cannot be treated as a factor of production?

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