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. After reaching the saturation point, consumption of additional units of the commodity cause:
A)Total utility to fall and marginal utility to increase.
B)Total utility and marginal utility both to increase.
C)Total utility to fall and marginal utility to become negative.
D)Total utility to become negative and marginal utility to fall.
C)Total utility to fall and marginal utility to become negative.
Q2. Marginal utility approach to demand was given by ____________________________.
A)J.R. Hicks
B)Alfred Marshall
C)Robbins
D)AC Pigou
B)Alfred Marshall
Q3. Which one of the following assumptions is not necessary for the cardinal utility theory?
A)Rationality of the consumer
B)Constant marginal utility of money
C)Perfectly competitive market
D)Additivity of utility
C)Perfectly competitive market
Q4. Law of diminishing marginal utility may not apply to-
A)Money
B)Butter
C)Pepsi, Coke, etc.
D)Ice cream
A)Money
Q5. The law of equi marginal utility considers price of money as:
A)Zero
B)less than one
C)more than one
D)one
D)one
Q6. When economists speak of the utility of a certain good, they are referring to:
A)the demand for the good
B)the usefulness of the good in consumption
C)the satisfaction gained from consuming the good
D)the rate at which consumers are willing to exchange one good for another
C)the satisfaction gained from consuming the good
Q7. Suppose that the price of a new bicycle is ₹ 200. Natalie values a new bicycle at ₹400. What is the value of total consumer surplus if Natalie buys a new bike?
A)₹500
B)₹300
C)₹200
D)₹400
C)₹200
Q8. The difference between the price a consumer is willing to pay and the price he actually pays is called-
A)Excess Price
B)Excess Demand
C)Consumer Surplus
D)Exploitation
C)Consumer Surplus
Q9. The satisfaction which a consumer derives in the consumption of a commodity is equal to ₹ 320. The price of that commodity is ₹180. What will be his consumer surplus?
A)₹180
B)₹200
C)₹140
D)₹500
C)₹140
Q10. The aim of the consumer in allocating his income is to –
A)maximize his total utility
B)maximize his marginal utility
C)to buy the goods he wants most whatever the price
D)to buy the goods which he expects to be short in supply
A)maximize his total utility
Q11. Minimum support price of wheat is called:
(a) Price ceiling
(b) Price floor
(c) Market price
(d) Equilibrium price.
(b) Price floor
Q12. Which of the following is the component of instrument pricing:
(a) Rent
(b) Wages
(c) Interest
(d) None of these.
(c) Interest
Q13. Which factors help in the determination of equilibrium price:
(a) Demand
(b) Supply
(c) Both (a) and (b)
(d) None of the above.
(d) None of the above.
Q14. Which among the following statement is not true:
(a) Demand of labor is done by the producer
(b) Demand of labor depends open its productivity
(c) Marginal productivity of a labor is his maximum wages
(d) All of the above.
(d) All of the above.
Q15. Excess demand can be seen in:
(a) Fixed market price
(b) Lowest fixed price
(c) Highest fixed price
(d) None of these.
(c) Highest fixed price
Fill in the blanks:
Q16. The price on which demand and supply are equal, is called ………………..
Normal
Q17. Price discrimination is possible in ……………….. market.
Monopolistic
Q19. Increase in total revenue by the sale of additional unit of the commodity is called ………………..
Marginal revenue
Q19. If the supply of any good remains unchanged, and with the increase in demand its ……………….. increases.
Increase
Q20. In perfect competition market, a firm is a ………………..
Price takes
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
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- Chapter 5: Market Equilibrium Class 11 MCQ Questions
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