Class 11 Economics – Daily Revision MCQ (English Medium)
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The word 'Economics' comes from the Greek word 'Oikonomia'. What does 'Oikonomia' mean?
Chapter 1: Basic Concepts in Economics
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Answer: B. Management of the household
The textbook explains that 'Oikonomia' means management of the household.According to the textbook, which is the most important function of money?
Chapter 2: Money
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Answer: C. Medium of exchange
Medium of exchange is a primary function and is called the most important function of money: any commodity can be bought or sold for money.Which of the following partition values is always equal to the median?
Chapter 3: Partition Values
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Answer: B. D₅
The book's rule: Q₂ = D₅ = P₅₀ = Median. So the 5th decile equals the median.Find the first quartile (Q₁) of the marks: 18, 25, 12, 30, 15, 35, 20.
Chapter 3: Partition Values
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Answer: C. 15
Ascending order: 12, 15, 18, 20, 25, 30, 35; n = 7; Q₁ = size of (n+1)/4 = 2nd item = 15.According to the 2011 Census, what was the sex ratio of Maharashtra?
Chapter 4: The Economy of Maharashtra
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Answer: B. 929 females per 1000 males
The textbook states Maharashtra's 2011 sex ratio as 929 females per 1000 males.When does a country get a 'demographic dividend'?
Chapter 6: Population in India
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Answer: A. When the proportion of working people in the total population is high
Demographic dividend occurs when the share of working (productive) people in the total population is high.In disguised unemployment, found mainly in Indian villages, some workers have —
Chapter 7: Unemployment in India
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Answer: D. zero marginal productivity
More people work than needed; removing some does not reduce output, because their marginal productivity is zero.As per the Planning Commission's norm for absolute poverty, what was the daily calorie requirement per person in rural areas?
Chapter 8: Poverty in India
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Answer: C. 2400 calories
Rural norm 2400 calories, urban 2100 calories (average about 2250).Since 2014, which two industries alone are reserved for the public sector in India?
Chapter 9: Economic Policy of India since 1991
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Answer: A. Railways and atomic energy
Under the New Economic Policy the reserved list fell from 17 to 8 and then further; from 2014 only railways and atomic energy are reserved.Which body was replaced by NITI Aayog in 2015?
Chapter 10: Economic Planning in India
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Answer: D. Planning Commission
In India the central planning authority was the Planning Commission (set up 15 March 1950); NITI Aayog replaced it in 2015.
Class 11: MCQ in other subjects
All questions are written by PadhaiNotes in our own words from the chapters of the official Maharashtra State Board Balbharati textbook (ebalbharati.in). Each question shows its chapter.