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Basic Concepts in Economics Economics - Basic Concepts in Economics

Maharashtra Board - STD 11 Commerce / Arts - Economics (MSBSHSE - English Medium). 109 questions in this chapter.

Question types

Basic Concepts in Economics question types

109 questions across 12 question groups — pick any mix to generate a Economics paper with step-by-step answer keys.

109
Questions
12
Question groups
5
Question types
Sample Questions

Basic Concepts in Economics questions

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

Q 6Choose the correct option1 Mark
Statement not related to Kenneth Boulding definition of Macro Economics:
(a) Macro Economic deals with totality or aggregate.
(b) Macro Economic deals with individual output.
(c) Macro Economic deals with National Income.
(d) Macro Economic deals individual price level.
  • A
    a, b, c
  • B
    c, d
  • C
    b, c
  • ✓
    b, d

Answer: D.

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Q 7Choose the correct option1 Mark
Statements related to features of Labour:
(a) Physical or mental effort undergone.
(b) It earns wages as a reward.
(c) Playing football for self-satisfaction.
(d) Gives coaching for football in XYZ school.
  • A
    a, c
  • ✓
    a, b, d
  • C
    a, b, c, and d
  • D
    b, d

Answer: B.

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Q 8Choose the correct option1 Mark
Statements related to features of Land:
(a) Resources available on, below, and above the surface.
(b) It is a natural factor of production.
(c) It is a man-made factor of production.
(d) It earns rent as a reward.
  • A
    a, b
  • B
    a, b, c, d
  • ✓
    a, b, d
  • D
    c, d

Answer: C.

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Q 9Choose the correct option1 Mark
Aspects considered in microeconomics:
(a) Micro means small.
(b) It deals with the behaviour of the individual economic units.
(c) It covers the study of the entire economy.
(d) It includes national income.
  • A
    a, b and c
  • ✓
    a and b
  • C
    b, c, and d
  • D
    a, b and d

Answer: B.

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Q 10Choose the correct option1 Mark
Statements related to National Income:
(a) Money value of goods and services produced in a year.
(b) It reveals the total economic performance of a nation.
(c) It is a macroeconomic concept.
(d) Income received by the person from all sources.
  • A
    a, b and d
  • B
    a, b, c, and d
  • ✓
    a, b and c
  • D
    b, c, and d

Answer: C.

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Q 21Choose the wrong pair1 Mark
Group ‘A’Group ‘B’
1. Alfred Marshall(a) Welfare Oriented Definition
2. Lionel Robbins(b) Scarcity Oriented Definition
3. Adam Smith(c) Scarcity Oriented Definition
4. J. M. Keynes(d) Modern School of Thought
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Q 22Choose the wrong pair1 Mark
Group ‘A’Group ‘B’
1. Physics, Chemistry, etc(a) Natural Science
2. Kautilya(b) Arthshastra
3. Psychology, Sociology, etc(c) Social Science
4. Prof. Alfred Marshall(d) Father of Economics
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Q 28Choose The Correct Pair.1 Mark
Group ‘A’Group ‘B’
1. Economic Wants(a) Travelling by Bus
2. Non-Economic Wants(b) Air, Sunshine, etc.
3. Individual Wants(c) Food, Medicine, etc.
4. Collective Wants(d) Doctor using Stethoscope
  • A
    1 – d; 2 – c; 3 – a; 4 – b
  • B
    1 – b; 2 – c; 3 – d; 4 – a
  • ✓
    1 – c; 2 – b; 3 – d; 4 – a
  • D
    1 – a; 2 – d; 3 – b; 4 – c

Answer: C.

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