Free Printable IBDP AFL Task Grade 11

1.

Which of the following economic activities are included in the subject-matter of Economics?

a)

(a) Economic Activities related to Unlimited Wants

b)

(b) Economic Activities related to Limited Resources

c)

(c) Both (a) and (b)

d)

(d) None of these

2.

On which base structure of economic problems has been installed?

a)

(a) Unlimited Wants and Limited Resources

b)

(b) Limited Resources and Limited wants

c)

(c) Unlimited resources and limited wants

d)

(d) Unlimited wants and unlimited resources

3.

‘Micros’, which means ‘Small’ belongs to:

a)

(a) Arabian word

b)

(b) Greek word

c)

(c) German word

d)

(d) English word

4.

Which of the following statement is true?

a)

(a) Human wants are infinite

b)

(b) Resources are limited

c)

(c) Scarcity problem gives birth to choice .

d)

(d) All of these

5.

Which of the following is one of the major causes of economic problems?

a)

(a) One of the major causes of economic problems is unlimited human wants

b)

(b) One of the major causes of economic problems is the alternative usage of resources

c)

(c) One of the major causes of economic problems is the scarcity of economic resources

d)

All of the above

6.

Which of the following statements reflect the correct situation related to the allocation of the resources?

a)

(a) Allocation of the resources comes under the causes of economic problems

b)

(b) Allocation of the resources comes under the causes of opportunity cost

c)

(c) Allocation of the resources comes under the causes of central problems

d)

(d) Allocation of the resources comes under the causes of marginal demand

7.

Which of the following statements is the actual meaning of scarcity?

a)

The actual meaning of scarcity is that there is an increase in the resources

b)

The actual meaning of scarcity is that there is a shortage in the resources

c)

The actual meaning of scarcity is that there is no change in the resources

d)

None of the above

8.

Which of the following is a part of microeconomics?

a)

(a) Factor pricing

b)

(b) National income

c)

(c) Both a and b are correct

d)

(d) none of the above

9.

Which of the following is/are features of resources in an economy?

a)

a) Limited supply

b)

b) Alternative uses

c)

c) Both a) and b)

d)

d) None of these

10.

Opportunity cost is:

a)

a) the additional benefit of buying an additional unit of a product.

b)

b) the cost incurred in the past before we make a decision about what to do in future

c)

c) a cost that is borne in terms of discomfort and pain while supplying factors of production

d)

d) that which we forgo, or give up while making a choice or a decision

11.

The opportunity cost of watching a movie will be equal to:

a)

a) the time lost while watching the show

b)

b) the pleasure that could have been enjoyed watching TV instead

c)

c) the pleasure enjoyed by watching the show

d)

d) the amount paid to buy the tickets

12.

The most fundamental economic problem is related to

a)

a) scarcity of resources

b)

b) Unlimited human wants

c)

c) Both a) and b)

d)

d) Neither a) nor b)

13.

Microeconomics is not concerned with the behaviour of:

a)

a) National income

b)

b) a consumer

c)

c) a firm

d)

d) a producer

14.

There are many economies in the world which are technologically advanced, these economies further focus upon development of latest technologies. In this way, these economies will be able to solve the economic problems once for all.

a)

a) True

b)

b) False

c)

c) Partially True

d)

d) Incomplete statement

15.

Microeconomics deals with which of the following?

a)

a) Total output of an economy

b)

b) Measurement of a nation’s inflation rate

c)

c) How producers and consumers interact in individual market

d)

d) How tax policies influence economic growth

16.

As an economic concept, scarcity applies to _

a)

a) Money but not time

b)

b) time but not money

c)

c) Both money and time

d)

d) Neither time nor money

17.

The government of India decided to produce 1,000 million quintals of wheat this year. The decision regarding quantity of production is a part of which central problem of the economy?

a)

a) What to produce

b)

b) How to produce

c)

c) For whom to produce

d)

d) None of these

18.

The central problem of how to produce is a problem of choice regarding:

a)

a) distribution

b)

b) technique of production

c)

c) quantity to be produced

d)

d) commodities to be produced

19.

There are _ central problems in an economy.

a)

a) two

b)

b) three

c)

c) four

d)

d) Nine

20.

Which of the following is not a central problem?

a)

a) What to produce

b)

b) When to produce

c)

c) How to produce

d)

d) For whom to produce

21.

In the production process, if goods worth ₹2,000 are produced by four factors of production, then labour will get ₹500.

a)

a) True

b)

b) False

c)

c) Partially true

d)

d) Incomeplete statement

22.

In deciding ‘How to produce’, the economy should consider:

a)

a) Labour intensive techniques

b)

b) Capital intensive techniques

c)

c) Both a) and b)

d)

d) Neither a) nor b)

23.

.Labour cannot be separated from ………………..

a)

(a) Labourer

b)

(b) Profit

c)

(c) Capital

d)

(c) none

24.

In production function, production is a function of:

a)

(a) Price

b)

(b) Factors of Production

c)

(c) Total Expenditure

d)

(d) None of these

25.

An active factor of production is:

a)

(a) Capital

b)

(b) Labour

c)

(c) Land

d)

(d) None of these

IBDP AFL Task Grade 11

Total questions: 25

Worksheet time: 25mins

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