Here you will find NCERT MCQ Questions for Class 11 Economics with Answers PDF Free Download based on the important concepts and topics given in the textbook as per CBSE new exam pattern. This may assist you to understand and check your knowledge about the chapters. Students also can take a free test of the Multiple Choice Questions of Class 11 Economics. Each question has four options followed by the right answer. These MCQ Questions are selected supported by the newest exam pattern as announced by CBSE.
Q1.Which of the following is not an essential condition of pure competition?
(a) Large number of buyers and sellers
(b) Homogeneous product
(c) Freedom of entry
(d) Absence of transport cost
(d) Absence of transport cost
Q2. Under which of the following forms of market structure does a firm has no control over the price of its product:
(a) Monopoly
(b) Oligopoly
(c) Monopolistic competition
(d) Perfect competition
(d) Perfect competition
Q3. Given the relation MR=P(1-\cfrac { 1 }{ e } ) if e > 1, then :
(a) MR > 0
(b) MR < 0
(c) MR = 0
(d) None
(a) MR > 0
Q4. Profits of the firm will be more at:
(a) MR = MC
(b) Additional revenue from extra unit equalits additional cost
(c) Both of above
(d) None
(c) Both of above
Q5. What should firm do when Marginal revenue is greater than marginal cost?
(a) Firm should expand output
(b) Effect should be made to make them equal
(c) Prices should be covered down
(d) All of these
(a) Firm should expand output
Q6. Under monopoly price discrimination depends upon:
(a) Elasticity of demand for commodity
(b) Elasticity of supply for commodity
(c) Size of market
(d) All of above
(a) Elasticity of demand for commodity
Q7. Firms in a monopolistic market are price _:
(a) Takers
(b) Givers
(c) Makers
(d) Acceptors
(c) Makers
Q8. Market which have two firms are known as:
(a) Oligopoly
(b) Duopoly
(c) Monopsony
(d) Oligopsony
(b) Duopoly
Q9. Monopolist can determine:
(a) Price
(b) Output
(c) Either price or output
(d) None
(c) Either price or output
Q10. MR of nth unit is given by:
(a) TRn/TRn – 1
(b) TRn + TRn – 1
(c) TRn – TRn – 1
(d) All of these
(c) TRn – TRn – 1
Q11. Beyond producer’s equilibrium when MR<MC, the firm earns only
(a) Abnormal profit
(b) Normal loss
(c) Abnormal loss
(d) Normal Profit
(c) Abnormal loss
Q12. Before producer’s equilibrium when MR > MC, the firm earns only
(a) Normal Profit
(b) Normal loss
(c) Abnormal loss
(d) Abnormal profit
(d) Abnormal profit
Q13. A producer’s equilibrium is a situation when
(a) AR = MR
(b) MR = MC
(c) AR = AC
(d) TR = TC
(b) MR = MC
Q14. The elasticity at a point on a straight line supply curve passing through the origin will be
(a) 3.0
(b) 1.0
(c) 4.0
(d) 2.0
(b) 1.0
Q15. The elasticity at a point on a straight-line supply curve passing through the origin making an angle of 45° will be
(a) 4.0
(b) 2.0
(c) 3.0
(d) 1.0
(d) 1.0
Q16. Under perfect competition the number of firms
(a) Is about 10
(b) Are many but limited
(c) Is large
(d) Is limited
(c) Is large
Q17. When _, the firms are earning just normal profit:
(a) AC = AR
(b) MC = AC
(c) AR = MR
(d) MC = MR
(a) AC = AR
Q18. In perfect competition, since the firm is a price taker, the __ curve is straight line
(a) Total cost
(b) Marginal cost
(c) Total revenue
(d) Marginal revenue
(d) Marginal revenue
Q19. Other name by which average revenue curve known:
(a) Indifference curve
(b) Profit curve
(c) Average cost curve
(d) Demand curve
(d) Demand curve
Q20. The concept of supply curve is relevant only for?
(a) Monopoly
(b) Monopolistic competition
(c) Perfect competition
(d) Oligopoly
(c) Perfect competition
MCQ Questions for Class 11 Economics: Statistics for Economics
- Chapter 1: Statistics for Economics Introduction Class 11 MCQ Questions
- Chapter 2: Collection, Organisation and Presentation of Data Class 11 MCQ Questions
- Chapter 3: Statistical Tools and Interpretation Class 11 MCQ Questions
MCQ Questions for Class 11 Microeconomics: Introductory Microeconomics
- Chapter 1: Introduction to Micro Economics Class 11 MCQ Questions
- Chapter 2: Theory of Consumer Behaviour Class 11 MCQ Questions
- Chapter 3: Production and Costs Class 11 MCQ Questions
- Chapter 4: The Theory of the Firm under Perfect Competition Class 11 MCQ Questions
- Chapter 5: Market Equilibrium Class 11 MCQ Questions
- Chapter 6: Non-competitive Markets Class 11 MCQ Questions
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