XI ECONOMICS | ONLINE MARK TEST L1-6

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SHUFFLED ONE MARK (L1-6)

5.Another name of price is _______
*

1 point

a. Average Revenue

b. Marginal Revenue

c. Total Revenue

d. Average Cost

9.The indifference curve are
*

1 point

a. vertical

b. horizontal

c. positive sloped

d. Negatively sloped

7.A book seller sold 40 books with the Price of ₹10 each. The total revenue of the seller is ₹___________.
*

1 point

a. 100

b. 200

c. 300

d. 400

NAME : *

10.The basic problem studied in Economics is
*

1 point

a. Unlimited wants

b. Unlimited means

c. Scarcity

d. Strategy to meet all our wants

2.Given potential price is Rs.250 and the actual price is Rs.200. Find the consumer surplus.
*

1 point

a. 375

b. 175

c. 200

d. 50

6.The concept of ‘Quasi-Rent’ is associated with
*

1 point

a. Ricardo

b. Keynes

c. Walker

d. Marshall

8.Who said, that one of the key of an entrepreneur is “uncertainty- bearing”.
*

1 point

a. J.B.Clark

b. Schumpeter

c. Knight

d. Adam Smith

3.The relationship between the price of a commodity and the supply of commodity is
*

1 point

a. Negative

b. Positive

c. Zero

d. Increase

4.Find total cost where TFC=I00 and TVC = 125.
*

1 point

a. 125

b. 175

c. 225

d. 325

1.Total revenue is equal to total output sold multiplied
*

1 point

a. Price

b. Total cost

c. Marginal revenue

d. Marginal cost

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