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CBSE Class 11 Social Science Quiz | CBSE Class 11 Social Science Multiple Choice Questions(MCQs) & Answers

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Questions
1 The example of agriculture price support program is?
A A price ceiling
B A price floor
C Equilibrium pricing
D None of the above

Answer: A price floor
2 The law of demand means?
A As the quantity demanded rises, the price rises
B As the price rises, the quantity demanded rises
C As the price rises, the quantity demanded falls
D As supply rises, the demand rises

Answer: As the price rises, the quantity demanded falls
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3 The goal of a pure market economy is to meet the desire of?
A Consumers
B The government
C Companies
D Workers

Answer: Consumers
4 “Capitalism” refers to?
A The use of market
B Government ownership of capital
C Private ownership of capital goods
D Private ownership of homes & cars

Answer: Private ownership of capital goods
5 The main economic problem faced by all society is.
A Scarcity
B Poverty
C Unemployment
D Inequality

Answer: Scarcity
6 The bowed shape of the production possibilities curve illustrates.
A Law of Increasing Marginal Cost
B The demand is relatively elastic
C The production is unattainable
D The production is inefficient

Answer: Law of Increasing Marginal Cost
7 Why statistically the unemployment rate is low in India?

Unemployment is calculated only from the age group 15 years to 59 years

Unemployment survives only when an individual cannot find a job

People are not interested in working outside the domestic area

Choose the correct option.
A Only 3
B 2 and 3
C Only 2
D All of the above

Answer: Only 2
8 What is the Gross National Product?
A The total value of Good and services manufactured in the country
B The total value of all the transactions in the country
C Reduction in the total value of goods and services produced in the country
D The total worth of goods and services generated in the country and net factor income from abroad.

Answer: The total worth of goods and services generated in the country and net factor income from abroad.
9 What does Price flooring mean?
A Equilibrium
B Shortage
C Surpluses
D None of these

Answer: Surpluses
10 Which of the below-mentioned institute are linked with the financial sector of India controlled by the Reserve Bank of India (RBI)?
A Stock Exchange Operations
B Commercial Bank
C Money Lenders
D All the above

Answer: Stock Exchange Operations
11 In India, which bank has the highest share in the disbursement of credit to agriculture and allied activities?
A Commercial Banks
B Microfinance institutions
C Regional Rural Banks
D Cooperative Banks

Answer: Commercial Banks
12 What things are taken into consideration while revising the poverty line periodically.
A By conducting a survey every five years
B National Sample Survey Organisation carry out the survey
C Both a and b are taken into consideration
D None of the above

Answer: Both a and b are taken into consideration
13 The reason for the decline in the child sex ratio in India is.
A Low fertility rate.
B Female foeticide
C Incentives for boy child from government
D None of the above

Answer: Female foeticide
14 What do you mean by Gross National Product?
A Depreciation in the total value of goods and services produced in the country
B The total value of all transactions in the country
C The total value of goods and services produced in the country
D The total value of goods and services produced in the country and net factor income from abroad

Answer: The total value of goods and services produced in the country and net factor income from abroad
15 Starting from the time of Independence India followed a planned economy because.

India followed a five-year plan and required an outlook

Indian constitution directive principles indicated the planned vision of India

The five-year plan does not indicate how much of each and every good and service is to be produced.

Choose the correct statements using the option below.
A Only 2
B 2 and 3
C 1 and 3
D All the above

Answer: 2 and 3
16 What do you mean by demand of a commodity?
A Quantity of the commodity demanded at a certain price during any particular period of time
B Quantity demanded of that commodity
C Need for the commodity
D A desire for the commodity

Answer: Quantity of the commodity demanded at a certain price during any particular period of time
17 What do you mean by a mixed economy?
A Modern and traditional industries
B Public and private sectors
C Foreign and domestic investments
D Commercial and subsistence farming

Answer: Public and private sectors
18 The relation that the law of demand defines is.
A Income and price of a commodity
B Price and quantity of a commodity
C Income and quantity demanded
D Quantity demanded and quantity supplied

Answer: Price and quantity of a commodity
19 What do you mean by under conditions of perfect competition in the product market?
A MRP=VMP
B VMP>MRP
C MRP>VMP
D None of the above

Answer: MRP=VMP
20 What do you mean by the supply of goods?
A Quantity of the good offered for sale at a particular price per unit of time
B The actual production of the good
C Total stock in the warehouse
D Stock available for sale

Answer: Quantity of the good offered for sale at a particular price per unit of time
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