CBSE Multiple Choice Type Questions for 11th Class Economics PDF formatted study resources are available for free download. These Grade 11 Economics CBSE MCQ Mock Test helps you learn & practice the concepts in a fun learning way.

Class 11 Economics MCQs Multiple Choice Questions with Answers

Here are the chapterwise CBSE MCQ Quiz Test Questions for Class 11th Economics in pdf format that helps you access & download so that you can practice online/offline easily.

Collection Of Data Questions and Answers

Collection Of Data Quiz Question Answer
The standard error of the proportion is given by ________. $$\sqrt{\dfrac{P(1 - P)}{n}}$$
Un-biased errors may arise ______________. from the difference between the items that are included in the sample and items that are not included
Primary data may be collected by __________________. Any of the above
Under _________, a well designed questionnaire is mailed to the informants with a request to fill it up and return the same within the specific time schedule. mailed questionnaire method
Primary data is more ________________. All of above
Alternative hypothesis is equal to____________. $$\bar{X} \neq \mu$$
Which of the following is/are not internal sources of secondary data. Business journals
NSSO is the _______________. National Sample Survey Organization
Biased errors may arise __________. some items are chosen deliberately in a random sampling method
Which of the following is not a method of collection of primary data. Demonstration

Correlation Class 11 Commerce Economics MCQ Quiz

Francis Galton used the regression analysis to study the relationship between the heights of about _________. 1000 fathers and sons
If the two regression coefficients are 0.8 and 0.2,then the value of coefficient of correlation is __________. +0.40
The total expenditure of the company over these items during the year $$2000$$ is?
$$Rs. 544.44\ lakhs$$
In correlation, there is______________. no cause and effect relationship
If $$\displaystyle cov\left( X,Y \right) =1,var\left( X \right) =1,var\left( Y \right) =4$$ then $$Cor(X,Y)=$$ $$\displaystyle \frac { 1 }{ 2 }$$
Total number of candidates qualified from all the states together in $$1997$$ is approximately what percentage of the total number of candidates qualified from all the states together in $$1998$$?
$$80$$%
Choose the negative correlation between two variables. As chicken gets older , they lay fewer eggs.
If increase in value of one variable is accompanied by the proprtional increase in second variable, then corrrelation between two variables is perfect positive
Choose the example of negative correlation. None of the above
The total amount of bonus paid by the company during the given period is approximately what percent of the total amount of salary paid during this period?
$$1$$%

Index Numbers Class 11 Commerce Economics MCQ Quiz

Consumer price index numbers are obtained by: Laspeyre's formula
Most commonly used index number is: Price index number
Index numbers can be used for: Forecasting
_______ requires that the product of price index and the corresponding quantity index number should be equal to the value index number. Factor reversal test
_______ is the short form of Bombay Stock Exchange Sensitive. SENSEX
An index number that can serve many purposes is called: General purpose index
Price relatives are a percentage ratio of current year price and: Base year price
In constructing index number geometric mean relatives are:  Reversible
_____ indicates the changes in monetary value Price Index
Index number is an ______ barometer. economic

Introduction To Economics Questions and Answers

Introduction To Economics Quiz Question Answer
___________ was used in earlier days by Germans which is Statistics. Statistik
Which of the following points do not reflect statistics?  It describes ways of analyzing qualitative data.
According to Tippet, Statistics is____. both a science and an art
Characteristic(s) of statistics___________. statistical data are enumerated or estimated
Which of the following sentence shows distrust about statistics? All of above
Which of the following statements is false? Statistics is derived from the French word 'statistik'.
The word 'Statistics' as used in earlier days by Italian____. Statista
The word 'Statistics' as used in earlier days by Germans is ____________. statistik
Range of probability distribution with 68.26% lies within __________________.
$$(+ 1 \sigma$$ and $$-1\sigma )$$
Statistics must relate to_____facts. Aggregate

Introduction To Microeconomics Questions and Answers

Introduction To Microeconomics Quiz Question Answer
Which of the following definition of financial management is given by "Massie"? Financial management is the operational activity of a business that is responsible for obtaining and effectively utilizing the funds necessary for efficient operations.
Which of these statement is true about production possibility curve (PPC/PPF)?
It shows various combination of two goods which, an economy can produce with a given amount resources
___________ economics explains cause and effect relationship between economic phenomena. Positive
Administered price mechanism is also called __________. both A & B
Positive economics is concerned with ________. what is?
Which of these is a normative statement? Forward trading in commodities ought to be banned to curb rising prices.
If a point falls inside the production possibility curve, what does it indicate? Both b and c
The price given for labour is usually called salaries and wages. True
Normative economic theory deals with ___________. how the problem should be solved
Which point of PPF are attainable ?
Inside

Market Equilibrium Class 11 Commerce Economics MCQ Quiz

Which theory is called as 'Veblenian Model'? Socio-cultural theory
The difference between the minimum price the producer is willing to accept and the equilibrium price is called ________. producers surplus
When there is excess demand for a commodity, the 'Law of demand' implies that __________. price of the commodity rises
Which of the following happens when aggregate supply exceeds aggregate demand? Inventories accumulate
More goods kept for self-consumption will ____________ supply. decrease
Total outlay is price multiplied by quantity.  True
Demand curve slopes upwards from left to right. False
All desires are not demand. True
The consumer is in equilibrium when __________.
the price line is tangent to the indifference curve
According to the World Development Report 2006, brought out by the World Bank, countries with per capita income of Rs. 4,53,000 p.a. and above are called __________________. Rich countries

Measures Of Central Tendency Questions and Answers

Measures Of Central Tendency Quiz Question Answer
The weight ( in kg ) of $$5$$ men are $$62, 65, 69, 66$$ and $$61.$$ The median is
$$65$$ kg
_________ of a distribution is that value of the variant which divides it into two equal parts. Median
What is a reasonable explanation for a data set of the test score of 75 students in which the mean score is 81 and the median is 68?  Two extremely high scores
The sum of four consecutive odd integers $$w, x, y,$$ and $$z$$ is $$24$$. What is the median of the set $$\left \{w, x, y, z, 24\right \}$$? $$7$$
Let the sum of the first three terms of an A.P. be $$39$$ and the sum of its last four terms be $$178$$. If the first term of this A.P. is $$10$$, then the median of the A.P. is: $$29.5$$
Median of the data: $$1, 9, 4, 3, 7, 6, 8, 8, 12, 15$$ is. $$7.5$$
The median of $$10,\space 14,\space 11,\space 9,\space 8,\space 12,\space 6$$ is $$10$$
The mean of $$x, y, z$$ is $$y$$, then $$x+z =$$ $$2y$$
A set of numbers consists of three $$4$$'s, five $$5$$'s, six $$6$$'s, eight $$8$$'s and seven $$10$$'s. The mode of this set of numbers is $$8$$
A student obtained $$60, 75$$ and $$85$$ marks respectively in three monthly examinations in Mathematics and $$95$$ marks in the final examination. The three monthly examinations are of equal weightage whereas the final examination is weighted twice as much as a monthly examination. The mean marks of Mathematics are $$82$$

Measures Of Dispersion Questions and Answers

Measures Of Dispersion Quiz Question Answer
If the group data has open end classes, one cannot calculate ________. mean
If modal value is not clear in a distribution, it can be ascertained by the method of ________. grouping
If for a series the arithmetic mean is $$25$$ and the harmonic mean is $$9$$, what is the geometric mean? $$15$$
$${X}^2$$ test is equal to____________. $$\dfrac {{\Sigma}(O - E)^2}{E}$$
From the following detail find out coefficient of Quartile Deviation.
$$3=64,Q1=50$$
$$12.28$$%
According to ________, "Dispersion is the measure of variations of items". A.L. Bowley
If Mean deviation is 16 then the standard deviation of the data is____. 20.0
What is the Relative counterpart of Standard Deviation ? Coefficient of Variation
The Gini Coefficient lies between ______. 0-1
Average of $$12$$ members = $$11.0$$. Average of the first six members = $$10.5$$, average of the last six members = ______. $$11.5$$

Non-Competitive Markets Class 11 Commerce Economics MCQ Quiz

There is no difference between firm and industry in the case of _______. perfect competition
Equilibrium of monopolist will never lie below the middle point of the average revenue curve because below the middle point _________. both (a) and (b)
A perfectly competitive industry becomes a monopoly with same cost conditions, it will now sell _________. a reduced output at a higher price
Under perfect market and in case of decreasing marginal cost the firm's equilibrium with respect to level of production _________. cannot be achieved
In figure, the firm's most efficient output is _______.
ON
Which is the best definition of the marginal firm? The firm which makes only normal profit.
Examples of monopolistic competition
I. grocery stores
II. petrol stations
III. shoe-repairing shops
IV. dry-cleaning establishment
III and IV are correct
Monopoly power indicates the __________.
extent of the departure from the competitive behaviour
The quantity purchased by the consumers is  _______ function of the price.
decreasing
Monopoly is not considered desirable from the point of view of the society mainly because the monopolist endeavours to________.
Produce below economic capacity level when he exhibits satisfaction with normal profit only

Organisation Of Data Questions and Answers

Organisation Of Data Quiz Question Answer
Which is true? $$[(1/50) \, = \, (1/80)]$$.
Which one of the following represents the number $$8$$:
In a frequency distance with classes $$0-10, 10-20$$ and so on, the size of class interval is $$10$$. lower limit of fourth class is $$30$$
Count the tally marks
$$5$$
The size of the each class intervals is: $$10$$
Range of $$14, 12, 17, 18, 16$$ and $$x$$ is $$20$$. Find $$x$$ $$(x > 0)$$ $$32$$
In an examination, $$10$$ students scored the following marks in Mathematics: $$35, 19, 28, 32, 63, 02, 47, 31, 13, 98$$. Its range is
$$96$$
The difference between upper and lower limit is called  class size
An orderly distribution of the raw data into certain specified categories is known as
frequency distribution
Data available in unorganized form is called raw data

Presentation Of Data Questions and Answers

Presentation Of Data Quiz Question Answer
Year wise production of rice, wheat and maize for last ten years can be displayed by : Multiple column chart
The data may be said to be classified ' quantitatively', when data relates to ___________________. numerical values or magnitudes
Upto $$6$$ songs are totally made by how many music directors?

$$50$$
The purpose of classifying raw data is to ____________. both A and B
How many students got more than $$70$$ marks?

$$47$$
In which age students do have the least number of mobile phones?

$$12$$
In the following frequency distribution the number of students whose age is less than $$20$$ years is :
$$17$$
_____  represents data that changes continuously over period of time. Line graph
The following line graph shows the yearly sales figures for a manufacturing company. What were the sales (in Rs. crores) in $$2006$$?

$$8$$
The following graph shows the temperature of a patient in a hospital, recorded every hour.
What was the temperature at 1.30 p.m.?

$$36.5^{0}C$$

Production And Costs Questions and Answers

Production And Costs Quiz Question Answer
Production function shows the  ______________.
input-output possibilities
The producer's demand for a factor of production is governed by the ________ of that factor. marginal productivity
Production function relates ________. input and output
Which of the following curves re not U-shaped?
AFC Curve
Which of the following are factors of production? All of them
Which activity is not included in production? Services done by a house-wife in her own house
The long run cost curves are __________________.
Flatter than the short-run cost curves
The law of returns refers to
The amount of extra output secured by adding to a fixed input, more and more variable inputs
According to Marshall, the law of diminishing returns applies only to _______________.
agriculture
When the marginal cost rises, the average cost also rises, but _____________.
the marginal cost rises more rapidly than the average cost

Theory Of Consumer Behaviour Questions and Answers

Theory Of Consumer Behaviour Quiz Question Answer
A consumer consuming two goods will be in equilibrium, when the marginal utilities from both goods are
Maximum possible positive
When the price of complementary products falls the demand of the other product will __________.
increases
If customers' taste or liking for an item increases with additional consumption, then the Law of Diminishing Marginal Utility will still hold good. This statement is _________. False
.............refers to the effect of a change in the price of a product on the Consumer's purchasing power. Income Effect
The demand function of a product x is dx=16-3Px, where Px stand for market price and dx stand for demand.Find the number of customer if the aggregate demand at a market price of Rs.3 per unit amount to 28,000___________. 4,000
Which of these cannot be considered exception to law of demand? Population composition
Demand curve in most cases slopes ____________. downward towards right
Group of more than one indifference curve is called a/an ________________. indifference map
The demand function of a product x is as dx=14-3Px,where Px stand for price and dx for demand.Find the number of customer if the aggregate demand at market price of Rs.4 per unit is 10,000____________. 5000
A consumer picking combination on higher indifference curve will get _______. higher level of satisfaction combination

The Theory Of The Firm Under Perfect Competition Questions and Answers

The Theory Of The Firm Under Perfect Competition Quiz Question Answer
Rent will be produced at that time when ________. elasticity of supply of land is perfectly elastic
The horizontal demand curve parallel to X-axis implies that the elasticity of demand is ______. infinite
Land is the only factor of production whose supply is _____. perfectly inelastic
Demand for factors of production is ______. derived demand
The cost of one thing in terms of the alternative given up is called ______. opportunity cost
The market period supply curve for perishable commodities is ________. perfectly inelastic
What minimum price is acceptable to a firm in the short-period? Equal to AVC
The MR will be equal to AR in ____________.
perfect competition
How many degrees are there to measure the elasticity of supply? Five
Supply is said to be less elastic when a big change in price brings about a big change in supply. False

Use Of Statistical Tools Questions and Answers

Use Of Statistical Tools Quiz Question Answer
What is qualitative analysis? Identification of unknown substance by chemical tests.
Statistics studies _________ information. quantitative
The colour of bromine solution is : Red
Which term is the best match for the color of a chemical substance students make note of: qualitative data
In sodium extract nitrogen is present as:
sodium cyanide
Purity of organic liquid can be checked by its characteristic : boiling point
Ammonium nitrate on heating gives ___________. nitrous oxide
The indicator which is used to find the strength of caustic soda solution with the help of oxalic acid is: Phenolphthalein
Sodium extract gives blood red colour when treated with $$FeCl_{3}$$. Formation of blood red colour confirms the presence of:
both nitrogen and sulphur
Which of the following elements in an organic compound cannot be detected by Lassaigne's test? Hydrogen

Economics MCQ Questions for Class 11 - Practice Test with Solutions

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