Posted by Anjali Kaur on Oct 31, 2021

Practice test 1

Practice test 1- Class XI – Economics, as per CBSE curriculum.

A quick note: Subscribe to our website to get answers to your curriculum questions.

Also, subscribe to my YouTube channel. But before subscribing, check it out.

Feel free to join our Facebook group and subscribe to this website to get daily educational content in your mailbox.

Disclosure: Some of the links on the website are ads, meaning at no additional cost to you, I will earn a commission if you click through or make a purchase. Please support me so that I can continue writing great content for you.

1. State the meaning of ‘quantity demanded of a commodity’.

Solution: https://learnwithanjali.com/microeconomics/change-in-demand-and-change-in-quantity-demanded/

2. What is scarcity?

Solution: It means limited availability of resources. Read here; https://learnwithanjali.com/economics/what-do-we-mean-by-an-economy-components-of-an-economy/

3. What is Marginal Utility?

Solution: https://learnwithanjali.com/microeconomics/what-is-cardinal-utility-approach/

4. What is Organisation of data?

Solution: https://learnwithanjali.com/statistics/organization-of-data/

5. What is arithmetic mean?

Solution: https://learnwithanjali.com/statistics/measures-of-central-tendency/

6. What is investment?

Solution: https://learnwithanjali.com/microeconomics/what-do-we-mean-by-an-economy-components-of-an-economy/

7. What is Statistics in singular sense?

Solution: https://learnwithanjali.com/statistics/introduction-to-statistics/

8. Who is a service provider?

Solution: https://learnwithanjali.com/economics/introduction-to-economics/

9. What is demand schedule?

Solution: https://learnwithanjali.com/microeconomics/what-is-demand/

10. What factors lead to leftward shift in a demand curve?

Solution: https://learnwithanjali.com/microeconomics/difference-between-a-movement-along-the-demand-curve-and-shift-in-demand/

11. What is the relation between marginal cost and average cost when average cost is rising?

Solution: When average cost is declining as output increases, marginal cost is less than average cost. When average cost is rising, marginal cost is greater than average cost. When average cost is neither rising nor falling (at a minimum or maximum), marginal cost equals average cost. https://learnwithanjali.com/microeconomics/average-total-cost/