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11th Economics Monthly Test - 2 (Introduction to Micro Economics)

MABS Institution

11th Economics Monthly Test - 2 (Introduction to Micro Economics)-Aug 2020

Time : 2.30 Hours

Part - A

Multiple Choice Question - Answer All Question

______ comes from the Ancient Greek Oikonomikos.

Politics
Econometrics
Economics
Ethics

Economics is a _______science

Social
Moral
Physical
Natural

Public Finance is concerned with

Income and Expenditure of government
Public Debt
Taxation
All the above

In economics is a

Deductive method
Inductive method
Both
None

Which of the following would not result in a rightward shift of the PPC?

Increase in investment in capital stock
Reduction in labour unemployment rate
Discovery of new oil deposits
Increase in the number of people

The income obtained from the sale of goods and services is called______________.

Cost
Revenue
Expenditure
Utility

Inductive Method is also called as

Empirical Method
Analytical Method
Abstract Method
All of these

Which of the following is covered in micro economics?

Consumer behaviour
External value of money
Employment and economic growth
National income

Capital goods also called as_____goods

Consumer
Producer's
Free goods
None of these

Ends refer to human __________.

Behaviour
Wants
Resources
Welfare

Part - B

Generic 2 - Answer All Question

What is Benham definition of economics?

Distinguish between Public goods and Private Goods.

What is meant by the term 'Utility'?

Classify the market based on the competitions?
Define Micro Economics

What are the methods of analysis?

What is Income?

Part - C

Generic 3 - Answer All Question

What are the crucial decisions involved in ' What is produce? '

Distinguish between free goods from Economic goods?

Explain deductive method of economics.

What are the fundamental problems faced by an economy?
Explain the scarcity definition of Economics and assess it.

What are the important features of Marshalls definition?

What are the importance of micro economics?

Part - D

Generic 5 - Answer All Question

Explain briefly shift of production possibility curve with the help of a diagram?

State and explain the Growth definition given by Paul Samuelson.

Explain the uses of production possibility curve.

Explain the different types of utility.

State the welfare definition given by Alfred Marshall and assess it.

Explain various divisions of Economics.

Explain the different types of utility.

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