#### 11th Standard Economics English Medium Free Online Test One Mark Questions with Answer Key 2020 - Part Four

11th Standard

Reg.No. :
•
•
•
•
•
•

Economics

Time : 00:10:00 Hrs
Total Marks : 10

Answer all the questions

10 x 1 = 10
1. Which theory is generally included under micro economics?

(a)

Price Theory

(b)

Income Theory

(c)

Employment Theory

(d)

Trade Theory

2. Economics according to the Lionel Robbins is a___________ science.

(a)

normative

(b)

applied

(c)

positive

(d)

experimental

3. Wants may be both __________ and complementary.

(a)

Alternative

(b)

Competitive

(c)

End

(d)

Essential

4. Price elasticity of demand is defined as the responsiveness of_____________.

(a)

price to a change in quantity demanded

(b)

quantity demanded to change in price

(c)

price to a change in income

(d)

quantity demanded to a change in income

5. Entrepreneur stand to benefit from the resulting _____________ .

(a)

Diseconomies of scale

(b)

Economies of scale

(c)

Output

(d)

Price

6. Monopolistic competition is a form of __________

(a)

Oligopoly

(b)

Duopoly

(c)

Imperfect competition

(d)

Monopoly

7. Residual Claimant Theory is propounded by

(a)

Keynes

(b)

Walker

(c)

Hawley

(d)

Knight

8. The average wage of a worker can be calculated by using _____________ formula.

(a)

Average Wage per Worker = ${{Total\ Wage\ Fund}\over{No.\ of\ Workers}}$

(b)

Marginal Wage of Worker = ${{Total\ Wage\ }\over{No.\ of\ Workers}}$

(c)

Average Wage per Worker x Price

(d)

Average Wage x Output

9. India has launched ________ number of five year plans so far.

(a)

12

(b)

11

(c)

10

(d)

13

10. Value Added Tax is ________ .

(a)

Multipoint tax

(b)

Single point tax

(c)

Direct tax

(d)

All the above
{"extraction_info": {"found_math": true, "script_math_tex": 0, "script_math_asciimath": 0, "math_annotations": 0, "math_alttext": 0, "mathml": 0, "mathjax_tag": 0, "mathjax_inline_tex": 1, "mathjax_display_tex": 0, "mathjax_asciimath": 0, "img_math": 0, "codecogs_latex": 0, "wp_latex": 0, "mimetex.cgi": 0, "/images/math/codecogs": 0, "mathtex.cgi": 0, "katex": 0, "math-container": 0, "wp-katex-eq": 0, "align": 0, "equation": 0, "x-ck12": 0, "texerror": 0, "math_score": 0.3564641773700714, "perplexity": 15649.515868445418}, "config": {"markdown_headings": true, "markdown_code": true, "boilerplate_config": {"ratio_threshold": 0.18, "absolute_threshold": 20, "end_threshold": 15, "enable": false}, "remove_buttons": true, "remove_image_figures": true, "remove_link_clusters": true, "table_config": {"min_rows": 2, "min_cols": 3, "format": "plain"}, "remove_chinese": true, "remove_edit_buttons": true, "extract_latex": true}, "warc_path": "s3://commoncrawl/crawl-data/CC-MAIN-2022-49/segments/1669446710155.67/warc/CC-MAIN-20221127005113-20221127035113-00415.warc.gz"}