CHAPTER 1 : Introduction to Macroeconomics and its Concepts NCERT MCQ CLASS 12TH Macro Economics Class | EDUGROWN
NCERT MCQ ON Introduction to Macroeconomics and its Concepts:
Question1 : Which of the following is not concerned with the problem of choice ?
- a) Excessive income
- b) Alternative use of resources
- c) Unlimited wants
- d) Limited (scarce) resources
Answer : Excessive income
Question2 : Example of micro economic variable is:
- a) Wholesale price index
- b) National income
- c) Market demand
- d) Aggregate demand
Answer : Market demand
Question3 : Who controls economic activities under centrally planned economics ?
- a) Industrialists
- b) Private firms
- c) Government
- d) Consumers
Answer : Government
Question4 : Slope of production curve is:
- a) a straight line
- b) convex to the point of origin ‘O’
- c) concave to the point of ‘O’
- d) none of these
Answer : concave to the point of ‘O’
Question5 : The problem of ‘what to produce’ relates to:
- a) The choice of technique
- b) Distribution of income
- c) Market value of the goods and services
- d) The choice of goods and services
Answer : The choice of goods and services
Question 6: Increase (growth) of resources implies that production possibility curve :
- a) Shifts to the Right
- b) Shifts to the left
- c) Rotates to the right
- d) None of these
Answer : Shifts to the Right
Question7 : The following table show the production of cricket bats and sarres of an imaginary economy :
If the production of cricket bats is increased from 3 thousand to 4 thousand, how much production of sarees will he to be sacrificed by the economy ?
- a) Zero
- b) 8 lakh sarees
- c) 30 lakh sarees
- d) 20 lakh sarees
Answer : 20 lakh sarees
Question 8: What satisfying power of commodity is called :
- a) Consumption
- b) Utility
- c) Production
- d) Value addiction
Answer : Utility
Question9 : Consuming two goods, consumer attains equilibrium when :
- a) MU1 > MU2
- b) MU2> MU1
- c) MU1 = MU2
- d) TU1 = TU2
Answer : MU1 = MU2
Question 10: When marginal utility is negative, total utility is :
- a) Zero
- b) Diminishing
- c) Maximum
- d) Minimum
Answer : Diminishing