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# Free Online MCQ of Class – 11 Microeconomics Chapter 2 – Central Problems of an Economy

Free Online MCQ of CBSE Class 11 Microeconomics Chapter 2 – Central Problems of an Economy with Answers. Free Online MCQ for Class 11 Microeconomics with Answers was Prepared Based on Latest Exam Pattern. Students can solve NCERT Class 11 Microeconomics “Central Problems of an Economy” Current Multiple Choice Questions with Answers to know their preparation level on Success Roar Classes Website itself.

Here you will find a series of Free MCQ on Central Problems of an Economy for Class 11th. This article consists of MCQ related to the topic “Central Problems of an Economy”.

## Chapter 2 – Central Problems of an Economy with Answers

1. Central problem of an economy arise, because:
1. Many goods are sold in market
2. Government makes decisions
3. Shortage of labour
4. Multiplicity of wants and Scarcity of resources.
2. The central problem of an economy is
1. Assigning limited resources in a way that unlimited desires and needs of the society are satisfied.
2. Ensuring a minimum income for each citizen.
3. Assuring that production happens in the most effective way.
4. Analyzing the demand with market economies.
3. Slope of production possibility curve is:
1. a straight line
2. convex to the point of origin
3. concave to the point of origin
4. none of these
4. When an economy is operating on the PPC, it indicates:
1. potential output > actual output
2. potential output= actual output
3. potential output< actual output
4. None of these
5. The opportunity cost of 1000 kg of rice produced on a land which can also produce 800 tonnes of wheat is:
1. 1000 kg of wheat
2. 800 tonnes of wheat
3. 8,000 tonnes of wheat
4. all of the above
6. When some resources are shifted from Use-1 to Use-2 (given technology), the marginal rate of transformation:
1. increases
2. decreases
3. remains constant
4. is zero
7. Which is not a central problem of an economy?
1. What to produce?
2. How to produce?
3. How to maximize private profit?
4. For whom to produce?
8. Economic problem arises due to:
1. limited wants
2. scarce means
3. alternative uses
4. both (b) and (c)
9. Which of the following is related to the problem ‘how to produce’?
1. Factoral distribution of income
2. the choice of technique
3. The choice of product
4. None of these
10. Concavity of PPC implies:
1. increasing slope
2. decreasing slope
3. constant slope
4. none of these

MCQ of CBSE Class 11 Microeconomics Chapter 2 – Central Problems of an Economy

Answer Key

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Positive Economics and Normative Economics

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