TN STATEBOARD 11th ECONOMICS CHAPTER 1, 2, 3, TEST


TEST – 4

PADVIKSHA BLOG

TIME: 2 hours 40 mins

TOTAL MARKS: 50

I Multiple Choice Questions (MCQ) (Mark- 10 x 1 = 10)

FILL IN THE BLANKS

1. What is a combination of inputs which show same amount of cost called _______.

2. If the Co-efficient elasticity is equal to zero it represents ___________ Supply

a. Perfectly elastic

b. Inelastic

c. perfectly inelastic

d. None of the above


3. Which one of the following is not a point in the Welfare Definition of Economics?

a. Study of an ordinary man

b. Economics does not focus on wealth alone

c. Economics is the study of material welfare

d. Economics deals with unlimited wants and limited means 

4. AP = ? _____.

5. Utility can be measured indirectly using the 'Measuring rod of money' is the statement of

 

(a) Adam Smith

 (b) Samuelson

 (c) Marshall

 (d) Lionel Robbins

6. Gossen’s first law is known as.

a. Law of equi-marginal utility.

b. Law of diminishing marginal utility

c. Law of demand.

d. Law of Diminishing returns.

7. What is C + V+ S ? 

8. Adam Smith wrote 'Wealth of Nations" in

(a) 1723

(b) 1890

(c) 1776

(d) 1932

9. Who uses law of diminishing MU?

10. Utility can be measured indirectly using the 'Measuring rod of money' is the statement of

(a) Adam Smith

(b) Samuelson

(c) Marshall

(d) Lionel Robbins

II ANSWER THE FOLLOWING QUESTIONS IN ONE OR TWO SENTENCES. (5x2=10)

Write Any 5 Questions:

1. What is the law of demand?

2. Name any two types of utility.

3. Define Marginal Product of a factor?

4. What are Iso-quants?

5. Give the meaning of deductive method.

6. Name the basic approaches to consumer behavior.

III ANSWER THE FOLLOWING QUESTIONS IN ONE PARAGRAPH. (5 X 3 = 15)

WRITE ANY 5 QUESTIONS

1. State the importance of Microeconomics. (Any 3)
2. Write a note on:

a. Needs

b. Price line or Budget line

c. Utility

3. Define Iso – quant, and Iso – quants Assumptions?

4. Distinguish between extension and contraction of demand.

5. What are the different features of services?

6. Explain the theory of “consumer’s surplus”.

IV. ANSWER THE FOLLOWING QUESTIONS IN ABOUT A PAGE (3 x 5 = 15)

WRITE ANY THREE QUESTION

1. Explain basic problems of the economy with the help of production possibility curve.

2. Explain the law of supply with a diagram.

3. Explain the law of demand and its exceptions.

4.  Compare and contrast various definitions of Economics.

 ******************** ALL THE BEST ******************