[CUET] Imp. MCQs of Central Problem of Economics, CBSE, ISC
Looking for important MCQs (Multiple Choice Questions) with answers of the Central Problem topic of Microeconomics for CUET, class 11 CBSE, ISC class 12, and State Board.
Central Problem is one of the topic of ‘Introduction’ chapter 1 of Microeconomics Book of class 11 CBSE Board and class 12 ISC Board.
Multiple-choice Questions of Central Problem for CUET
Let’s Practice
The Central Problems are called central because these are faced by:
a) All the consumers
b) All the producers
c) All the investors
d) All the countries
Ans – d)
The economic problem is basically the problem of choice making:
a) Between inputs
b) Between outputs
c) About distribution of output
d) All the above
Ans – d)
The Central problems of “What, how, and for whom” are:
a) Interdependent
b) Independent
c) All problems may not be present at one time
d) May vary from country to country
Ans – a)
The Central Problem of ‘How to produce’ is basically the problem of deciding to undertake production with the help of:
a) Capital only
b) Labour only
c) Both Capital and Labour
d) How much of capital and labour each
Ans – d)
The Central problem of ‘for whom’ refers to the distribution of goods between:
a) Rich and the poor
b) Users
c) Different sections of society
d) Between the public sector and private sectors
Ans – b)
Which of these economic problem deals with technique of production?
a) What to produce
b) How to produce
c) For whom to Produce
d) None of these
Ans – b)
Identify the central problem which deals with deciding the quantity
of goods to be produced:
a) What to produce
b) How to Produce
c) For whom to Produce
d) None of these
Ans – a)
The Fundamental economic problem being faced is:
a) Unlimited human wants
b) Limited wants and unlimited resources
c) Unlimited wants and scarcity of resources
d) Limited wants and limited resources
Ans – c)
Labour-intensive technique are chosen in a:
a) Labour surplus economy
b) Capital surplus economy
c) Developed economy
d) Developing economy
Ans – a)
Which of the following is a cause of economic problem?
a) Scarcity of Resources
b) Unlimited Wants
c) Alternative uses
d) All of these
Ans – d)
Which of the following is a central problem of economy?
a) How to Produce
b) When to Produce
c) What to produce
d) For whom to Produce
Ans – a), c), d)
The problem of ‘What to produce’ covers the issue relating to:
a) What goods are to be produced
b) What quantities of goods to be produced
c) Both a) and b)
d) Neither a) nor b)
Ans – c)
In deciding “How to produce”, the economy should consider:
a) Labour Intensive Techniques
b) Capital Intensive Techniques
c) Both a) and b)
d) Neither a) not b)
Ans – c)
