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Chapters
2: Consumption Analysis
3: Production Analysis
4: Cost and Revenue Analysis
5: Market Structure and Pricing
6: Distribution Analysis
7: Indian Economy
8: Indian Economy Before and After Independence
9: Development Experiences in India
10: Rural Economy
11: Tamil Nadu Economy
12: Mathematical Methods for Economics
![Samacheer Kalvi solutions for Economics [English] Class 11 TN Board chapter 1 - Introduction to Micro Economics - Shaalaa.com](/images/economics-english-class-11-tn-board_6:5f2b1b2038084cf381bfa42c826a928c.jpg "Samacheer Kalvi solutions for Economics [English] Class 11 TN Board chapter 1 - Introduction to Micro Economics")
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Solutions for Chapter 1: Introduction to Micro Economics
Below listed, you can find solutions for Chapter 1 of Tamil Nadu Board of Secondary Education Samacheer Kalvi for Economics [English] Class 11 TN Board.
Samacheer Kalvi solutions for Economics [English] Class 11 TN Board 1 Introduction to Micro Economics Model Questions - Part A [Pages 21 - 23]
Multiple Choice Questions
‘Economics is a study of mankind in the ordinary business of life’ -It is the statement of
Adam Smith
Lionel Robbins
Alfred Marshall
Samuelson
The basic problem studied in Economics is
Unlimited wants
Unlimited means
Scarcity
Strategy to meet all our wants
Microeconomics is concerned with
The economy as a whole
Different sectors of an economy
The study of individual economic units behaviour
The interactions within the entire economy
Which of the following is a microeconomics statement?
The real domestic output increased by 2.5 percent last year
Unemployment was 9.8 percent of the labour force last year
The price of wheat determines its demand
The general price level increased by 4 percent last year
Find the odd one out:
“An inquiry into the nature and the causes of the Wealth of Nations”
“Principles of Economics”
“Nature and Significance of Economic Science”
“Ceteris paribus”
The equilibrium price is the price at which
Everything is sold
Buyers spend their money
Quantity demanded equals quantity supplied
Excess demand is zero
Author of “An Inquiry into the Nature and Causes of Wealth of Nations”
Alfred Marshall
Adam Smith
Lionel Robbins
Paul A Samuelson
“Economics studies human behaviour as a relationship between ends and scarce means which have alternative uses” is the definition of economics of
Lionel Robbins
Adam Smith
Alfred Marshall
Paul A Samuelson
Who is the Father of Economics?
Max Muller
Adam Smith
Karl Marx
Paul A Samuelson
“Economics is a science” The basis of this statement is —
Relation between cause and effect
Use of deductive method and inductive method for the formations of laws
Experiments
All of the above
Utility means
Equilibrium point at which demand and supply are equal
Want-satisfying capacity of goods and services
Total value of commodity
Desire for goods and services
A market is
Only a place to buy things
Only a place to sell things
Only a place where prices adjust
A system where persons buy and sell goods directly or indirectly
Which one of the following is not a point in the Welfare Definition of Economics?
Study of an ordinary man
Economics does not focus on wealth alone
Economics is the study of material welfare
Economics deals with unlimited wants and limited means
Growth definition takes into account
The problem of choice in the dynamic framework of Economics
The problem of unlimited means in relation to wants
The production and distribution of wealth
The material welfare of human beings
Which theory is generally included under micro economics?
Price Theory
Income Theory
Employment Theory
Trade Theory
______ have exchange value and their ownership rights can be established and exchanged
Goods
Services
Markets
Revenue
Identify the correct characteristics of utility
It is equivalent to ‘usefulness’
It has moral significance
It is same as pleasure
It depends upon consumer’s mental attitude
Who has given scarcity definition of economics?
Adam Smith
Marshall
Robbins
Robertson
The process of reasoning from particular to general is
Deductive method
Inductive method
Positive economics
Normative economics
Total revenue is equal to total output sold multiplied by
Price
Total cost
Marginal revenue
Marginal cost
Samacheer Kalvi solutions for Economics [English] Class 11 TN Board 1 Introduction to Micro Economics Model Questions - Part B [Page 23]
Answer the following questions in one or two sentences
What is meant by Economics?
Define microeconomics.
What are goods?
Distinguish goods from services.
Name any two types of utility.
Define positive economics.
Give the meaning of deductive method.
Samacheer Kalvi solutions for Economics [English] Class 11 TN Board 1 Introduction to Micro Economics Model Questions - Part C [Page 23]
Answer the following questions in one paragraph
Explain the scarcity definition of Economics and assess it.
What are the crucial decisions involved in ‘what to produce?’
Explain different types of economic activities.
What are the different features of services?
What are the important features of utility?
Distinguish between microeconomics and macroeconomics.
Compare positive economics and normative economics.
Samacheer Kalvi solutions for Economics [English] Class 11 TN Board 1 Introduction to Micro Economics Model Questions - Part D [Page 24]
Answer the following questions in about a page
Compare and contrast various definitions of Economics.
Explain various Steps of Deductive and Inductive Methods.
Elaborate the nature and scope of Economics.
Explain basic problems of the economy with the help of production possibility curve.
Solutions for 1: Introduction to Micro Economics
Samacheer Kalvi solutions for Economics [English] Class 11 TN Board chapter 1 - Introduction to Micro Economics
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Concepts covered in Economics [English] Class 11 TN Board chapter 1 Introduction to Micro Economics are Micro Economics, Meaning of Economics, Nature of Economics, Scope of Economics, Basic Concepts in Economics, Economics: Its Method, Facts, Theories and Laws, Economics: Its Sub Divisions, Economics: Its Types, Basic Economic Problems, Production Possibility Curve.
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