NCERT Class 9 Social Science MCQ Chapter 8 Building Blocks in Economics: The Problem of Choice Solutions English Medium As Per New Syllabus. NCERT Class 9 Social Science MCQ Chapter 8 Building Blocks in Economics: The Problem of Choice Notes to each chapter is provided in the list so that you can easily browse throughout different chapter NCERT Class 9 Social Science MCQ Question Answer Download PDF and select needs one. CBSE Class 9 Social Science Multiple Choice Solutions.
NCERT Class 9 Social Science MCQ Chapter 8 Building Blocks in Economics: The Problem of Choice
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Building Blocks in Economics: The Problem of Choice
Chapter – 8
| Part – I: Economics |
| MCQ |
1. Why do individuals, enterprises, and governments have to make economic choices?
(i) Because resources are unlimited.
(ii) Because wants are limited.
(iii) Because resources are limited while wants are unlimited.
(iv) Because production never changes.
Ans: (iii) Because resources are limited while wants are unlimited.
2. Which of the following is considered a basic need?
(i) Designer shoes.
(ii) Food.
(iii) Luxury car.
(iv) Expensive smartphone.
Ans: (ii) Food.
3. What is the value of the next best alternative that is sacrificed called?
(i) Production.
(ii) Demand.
(iii) Opportunity cost.
(iv) Investment.
Ans: (iii) Opportunity cost.
4. The Production Possibility Curve shows:
(i) Population growth.
(ii) Alternative combinations of goods produced using available resources.
(iii) Market demand only.
(iv) Price changes in the market.
Ans: (ii) Alternative combinations of goods produced using available resources.
5. Every point on the Production Possibility Curve represents:
(i) Efficient use of available resources.
(ii) Waste of resources.
(iii) Unlimited production.
(iv) Increase in demand.
Ans: (i) Efficient use of available resources.
6. The word “Economics” is derived from the Greek word:
(i) Agora.
(ii) Oikonomia.
(iii) Nomos.
(iv) Polis.
Ans: (ii) Oikonomia.
7. Economics mainly deals with:
(i) Weather forecasting.
(ii) Efficient use of limited resources.
(iii) Political elections.
(iv) Scientific inventions only.
Ans: (ii) Efficient use of limited resources.
8. Which of the following is an economic entity?
(i) Consumer.
(ii) Producer.
(iii) Government.
(iv) All of the above.
Ans: (iv) All of the above.
9. The annual report reviewing India’s economic performance is called:
(i) Census Report.
(ii) Economic Survey.
(iii) National Sample Survey.
(iv) Finance Commission Report.
Ans: (ii) Economic Survey.
10. The Economic Survey is prepared by the:
(i) Reserve Bank of India.
(ii) Ministry of Finance.
(iii) Ministry of Commerce.
(iv) NITI Aayog.
Ans: (ii) Ministry of Finance.
11. Which situation gives rise to scarcity?
(i) Unlimited resources and limited wants.
(ii) Limited resources and unlimited wants.
(iii) Unlimited wants and unlimited resources.
(iv) Equal wants and resources.
Ans: (ii) Limited resources and unlimited wants.
12. Which is one of the three key questions of economics?
(i) Where to produce?
(ii) What to produce?
(iii) When to export?
(iv) Who should own land?
Ans: (ii) What to produce.
13. The question “For whom to produce?” mainly focuses on:
(i) Distribution of goods among consumers.
(ii) Selection of machinery.
(iii) Choice of factory location.
(iv) Import of raw materials.
Ans: (i) Distribution of goods among consumers.
14. School shoes are generally produced to be:
(i) Stylish and expensive.
(ii) Durable and affordable.
(iii) Decorative only.
(iv) Imported only.
Ans: (ii) Durable and affordable.
15. Sports shoes are specially designed to provide:
(i) Luxury appearance.
(ii) Grip, flexibility, and support.
(iii) Waterproof storage.
(iv) High fashion value.
Ans: (ii) Grip, flexibility, and support.
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