ICSE/ISC Plus 1 Commerce Study Materials, Online Learning, Question Papers, Classnotes, Practice Test, MCQ | Smartindia Educational Program : www.smartindia.net.in

Question-1 A consumer will buy more units of a good if the value of the good's

(A) Marginal is greater than price	(B)Total utility is less than price
(C)Total utility is greater than price	(D)Marginal utility is less than price

Question-2 Production refers to

(A) Destruction of wealth	(B)Creation of utilities
(C)Exchange value	(D)Willingness of a person

Question-3 Capital, as economist use the term

(A) Is the money the firm spends to here resources	(B)Is money the firm raises from selling stock
(C)Refer to the process by which resources are transformed into useful forms	(D)Refers to things that have already been produced that are in turn used to produce other goods and services

Question-4
The organizational modifications can be accomplished only by the ___________.

(A) Private sector	(B) Public sector
(C) Government	(D) None of these

Question-5 _________ is/are considered to be agents of production.

(A) Land	(B)Labour
(C)Capital	(D)All the above

Question-6
The____________ take the responsibility of employing these factors in an appropriate proportion and organise the business activities.

(A) Consumer	(B) Producer
(C) Household	(D) None of these

Question-7 Efficiency of labour depends upon

(A) Skill	(B)Physical Strength
(C)Training	(D)All the above

Question-8
__________ to individuals that use goods and services generated within the economy.

(A) Producers	(B) Consumers
(C) Investors	(D) None of these

Question-9
The poor masses can be benefited through ___________.

(A) Private expenditure	(B) Public expenditure
(C) Both 1 & 2	(D) None of these

Question-10
_________ create the demand for various commodities.

(A) Consumers	(B) Producers
(C) Investors	(D) None of these

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Plus 1 Commerce

ICSE/ISC

Practice in Related Chapters
Basic Economic Concepts
Definition, Nature and Scope of Economics
Introduction to Statistics
Types of Economics
Organisation of Data
Collection of Data
Definition of Economics
Basic Problems of an Economy