Class 11 Economics MCQ Chapter 12 Introduction Question Answer English Medium to each chapter is provided in the list so that you can easily browse through different chapters Class 11 Economics MCQ Chapter 12 Introduction and select need one. AHSEC Class 11 Economics Objective Type Solutions in English As Per AHSEC New Book Syllabus Download PDF. AHSEC Economics MCQ Class 11.
Class 11 Economics MCQ Chapter 12 Introduction
Also, you can read the NCERT book online in these sections Solutions by Expert Teachers as per Central Board of Secondary Education (CBSE) Book guidelines. AHSEC Class 11 Economics Multiple Choice Solutions are part of All Subject Solutions. Here we have given AHSEC Class 11 Economics MCQ in English for All Chapters, You can practice these here.
Introduction
Chapter: 12
| PART – B : STATISTICS FOR ECONOMICS |
Choose the Correct Option:
1. The term “Economics” is derived from which two Greek words?
(i) Eco and Nomos.
(ii) Oikos and Nomus.
(iii) Econo and Mics.
(iv) Oiko and Nomic.
Ans: (ii) Oikos and Nomic.
2. According to Kautilya’s Arthashastra, economics was primarily concerned with:
(i) Household management.
(ii) Political economics and wealth management.
(iii) The study of natural resources.
(iv) The production of goods and services.
Ans: (ii) Political economics and wealth management.
3. Who is regarded as the father of modern economics?
(i) David Ricardo.
(ii) J.B. Say.
(iii) Adam Smith.
(iv) J.S. Mill.
Ans: (iii) Adam Smith.
4. According to Adam Smith, what is the central subject matter of economics?
(i) Distribution of resources.
(ii) Production and growth of wealth.
(iii) Welfare of society.
(iv) Trade and commerce.
Ans: (ii) Production and growth of wealth.
5. According to the wealth definition of economics, which of the following is the primary focus of study?
(i) The nature of human desires.
(ii) The causes that increase wealth.
(iii) The distribution of income.
(iv) The role of government in the economy.
Ans: (ii) The causes that increase wealth.
6. What does the wealth definition of economics consider as ‘wealth’?
(i) Only money and gold.
(ii) All tangible and intangible assets.
(iii) Only material goods that are scarce and useful.
(iv) All goods and services.
Ans: (iii) Only material goods that are scarce and useful.
7. According to Alfred Marshall, what is the primary focus of economics?
(i) The accumulation of wealth.
(ii) The study of financial markets.
(iii) The attainment and use of material requisites of well-being.
(iv) The production of goods and services.
Ans: (iii) The attainment and use of material requisites of well-being.
8. What was Alfred Marshall’s perspective on the relationship between man and wealth?
(i) Wealth is more important than human welfare.
(ii) Man exists to accumulate wealth.
(iii) Wealth is a means to satisfy human wants, not an end in itself.
(iv) Economics only studies the production of wealth.
Ans: (iii) Wealth is a means to satisfy human wants, not an end in itself.
9. According to the material welfare definition of economics, which type of welfare does Economics primarily study?
(i) Spiritual welfare.
(ii) Political welfare.
(iii) Material or economic welfare.
(iv) Psychological welfare.
Ans: (iii) Material or economic welfare.
10. Why does economics not study an extraordinary man like a Sadhu, according to the material welfare definition?
(i) Because a Sadhu does not engage in material activities.
(ii) Because a Sadhu is not part of society.
(iii) Because economics focuses only on non-material welfare.
(iv) Because Sadhus do not contribute to economic growth.
Ans: (i) Because a Sadhu does not engage in material activities.
11. Who gave the scarcity definition of economics?
(i) Alfred Marshall.
(ii) Adam Smith.
(iii) Lionel Robbins.
(iv) John Maynard Keynes.
Ans: (iii) Lionel Robbins.
12. In which book did Lionel Robbins introduce his scarcity definition of economics?
(i) The Wealth of Nations.
(ii) An Essay on the Nature and Significance of Economic Science.
(iii) Principles of Economics.
(iv) The General Theory of Employment, Interest, and Money.
Ans: (ii) An Essay on the Nature and Significance of Economic Science.
13. According to Robbins, economics studies human behavior in relation to:
(i) Unlimited wants and scarce means with alternative uses.
(ii) Production and consumption of goods.
(iii) Wealth and welfare.
(iv) The role of government in the economy.
Ans: (i) Unlimited wants and scarce means with alternative uses.
14. Why are means considered scarce according to Robbins?
(i) Because they are not renewable.
(ii) Because their supply exceeds demand.
(iii) Because their demand exceeds supply.
(iv) Because they are freely available.
Ans: (iii) Because their demand exceeds supply.
15. What is the main economic problem that arises due to scarcity?
(i) Inflation.
(ii) Economic growth.
(iii) Making a choice.
(iv) Government intervention.
Ans: (iii) Making a choice.
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