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Basic Problems of An Economy Economics - Basic Problems of An Economy

ICSE - STD 9 - Economics (ICSE - English Medium). 38 questions in this chapter.

Question types

Basic Problems of An Economy question types

38 questions across 5 question groups — pick any mix to generate a Economics paper with step-by-step answer keys.

38
Questions
5
Question groups
5
Question types
Sample Questions

Basic Problems of An Economy questions

One sample from each question group in this chapter. Select any group above to see the full set with answer keys.

Q 1MCQ1 Mark
Which one of the following economic problems deals with technique of production?
  • A
    What to produce
  • ✓
    How to produce
  • C
    For whom to produce
  • D
    None of these

Answer: B.

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Q 2MCQ1 Mark
Which is not a central problem of an economy?
  • A
    What to produce
  • B
    How to produce
  • ✓
    When to produce
  • D
    For whom to produce

Answer: C.

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Q 3MCQ1 Mark
Which of the following is related to the problem of how to produce?
  • A
    distribution of income
  • ✓
    choice of technique
  • C
    choice of product
  • D
    None of these

Answer: B.

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Q 4MCQ1 Mark
Economic problem arises due to
  • A
    limited wants
  • B
    scarce means
  • C
    alternative uses
  • ✓
    Both (b) and (c)

Answer: D.

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Q 5MCQ1 Mark
Benefit of sustainable economic development is obtained by :
  • A
    Present Generation
  • B
    Future Generation
  • ✓
    Both (a) and (b)
  • D
    Neither (a) nor (b)

Answer: C.

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Q 6Assertion (A) & Reason (B) MCQ1 Mark
Statement (1) : Electricity is a natural resource.
Statement (2) : Water and coal are natural resources.
  • A
    Statement 1 is true, Statement 2 is false.
  • ✓
    Statement 2 is true, Statement 1 is false.
  • C
    Both statements are true.
  • D
    Both statements are false.

Answer: B.

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Q 7Assertion (A) & Reason (B) MCQ1 Mark
Assertion(A): Economic problem is the problem of scarcity and choice.
Reason(R): The problem : What to produce? relates to the choice of techniques of production.
  • A
    Both Assertion(A) and Reason(R) are true and Reason(R) is the correct explanation of Assertion(A).
  • B
    Both Assertion(A) and Reason(R) are true and Reason(R) is not the correct explanation of Assertion(A).
  • ✓
    Assertion(A) is true but Reason(R) is false.
  • D
    Assertion(A) is false but Reason(R) is true.

Answer: C.

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