eVidyarthi

MCQ Chapter 1 Economics Class 11 Maharashtra Board

Basic concepts in economics

1. Which characteristic of wants indicates they arise repeatedly?

Question 1 of 20

2. How do wants differ according to the text?

Question 2 of 20

3. Which type of want involves monetary transactions?

Question 3 of 20

4. What is an example of a non-economic want?

Question 4 of 20

5. Which want is satisfied at the individual level?

Question 5 of 20

6. What is an example of a necessity want?

Question 6 of 20

7. What satisfies human wants but has no material existence?

Question 7 of 20

8. What is the capacity of a commodity to satisfy human wants called?

Question 8 of 20

9. What is 'value-in-use' according to the text?

Question 9 of 20

10. What is an example of a commodity with high value-in-use but low exchange value?

Question 10 of 20

11. Which commodity is considered a 'free good'?

Question 11 of 20

12. What is a characteristic of wealth?

Question 12 of 20

13. What type of transferability involves actual transfer of goods?

Question 13 of 20

14. Why are inborn qualities like beauty not considered wealth?

Question 14 of 20

15. What is personal income?

Question 15 of 20

16. What is personal disposable income (PDI)?

Question 16 of 20

17. Which type of income remains stable over time?

Question 17 of 20

18. What is an example of unearned income?

Question 18 of 20

19. Which economic activity involves the creation of utility?

Question 19 of 20

20. Which factor of production earns the reward of 'rent'?

Question 20 of 20


 

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