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

Question-1
Households purchase different _____________ for their own consumption.

(A) Consumer goods	(B) Producer goods
(C) Economic policy	(D) None of these

Question-2
Household is also a _____________.

(A) Tax payer	(B) Investor
(C) Both 1 & 2	(D) None of these

Question-3 Efficiency of labour depends upon

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

Question-4
___________ are encouraged to diversify their productive activities.

(A) Producers	(B) Consumers
(C) Both 1 & 2	(D) None of these

Question-5
__________ to individuals that use goods and services generated within the economy.

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

Question-6
The households are __________ in an economy.

(A) Consumption units	(B) Social welfare
(C) Inequality of Income	(D) None of these

Question-7
Household is a _____________.

(A) Producer	(B) Consumer
(C) Both 1 & 2	(D) None of these

Question-8
The optimum utilization of ______________ is very important to achieve proper economic progress.

(A) Factors of production	(B) Product diversification
(C) Consumer goods	(D) Economic resources

Question-9 Economist use the term marginal utility to mean

(A) Additional satisfaction gained divided by additional cost of the last unit	(B)Additional satisfaction gained by the consumption of one more unit of a good
(C)Total satisfaction gained when consuming a given number of units	(D)The process of comparing marginal units of all goods which could be purchased

Question-10 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

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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