Practicing Class 9 Social Science MCQ and Class 9 SST Chapter 8 Building Blocks in Economics The Problem of Choice MCQ Online Test with Answers daily helps in time management.
Class 9 SST Chapter 8 Building Blocks in Economics The Problem of Choice MCQ
MCQ on Building Blocks in Economics The Problem of Choice Class 9
Building Blocks in Economics The Problem of Choice MCQ Class 9
Question 1.
What is the basic problem that economics tries to solve?
(a) Unlimited resources
(b) Scarcity of resources
(c) Excess production
(d) Population growth
Answer:
(b) Scarcity of resources
Question 2.
Which of the following is a factor of production?
(a) Fashion
(b) Labour
(c) Demand
(d) Choice
Answer:
(b) Labour
Question 3.
What is the opportunity cost of a choice?
(a) Total money spent
(b) Value of the next best alternative forgone
(c) Profit earned
(d) Cost of production
Answer:
(b) Value of the next best alternative forgone
Question 4.
Which factor of production includes machinery and tools?
(a) Land
(b) Labour
(c) Capital
(d) Technology
Answer:
(c) Capital
Question 5.
Which economic system mainly relies on demand and supply?
(a) Planned Economy
(b) Mixed Economy
(c) Market Economy
(d) Traditional Economy
Answer:
(c) Market Economy
Question 6.
Which of the following is a public good?
(a) Mobile phone
(b) Television
(c) Street light
(d) Bicycle
Answer:
(c) Street light
Question 7.
Labour-intensive production uses:
(a) More machines
(b) More workers
(c) More land
(d) More capital
Answer:
(b) More workers
Question 8.
In a planned economy, economic decisions are mainly made by:
(a) Consumers
(b) Producers
(c) Government
(d) Foreign investors
Answer:
(c) Government
Question 9.
Which of the following best describes scarcity?
(a) Unlimited resources
(b) Excess supply
(c) Limited resources and unlimited wants
(d) High prices
Answer:
(b) Excess supply
Question 10.
India’s economy after 1991 is best described as:
(a) Planned Economy
(b) Mixed Economy
(c) Traditional Economy
(d) Command Economy
Answer:
(b) Mixed Economy
Building Blocks in Economics The Problem of Choice Class 9 Assertion and Reasoning Questions
There are two statements in each question marked as Assertion (A) and Reason (R). Choose your answer as per the options given below: ,
(a) Both (A) and (R) are true and (R) is the correct explanation of (A).
(b) Both (A) and (R) are true but (R) is not the correct explanation of (A).
(c) (A) is true, but (R) is false.
(d) (A) is false but (R) is true.
Question 1.
Assertion (A): Every choice involves an opportunity cost.
Reason (R): Choosing one option means giving up another.
Answer:
(a) Both (A) and (R) are true and (R) is the correct explanation of (A).
Question 2.
Assertion (A): Human wants are unlimited.
Reason (R): Resources available to satisfy wants are limited.
Answer:
(a) Both (A) and (R) are true and (R) is the correct explanation of (A).
Question 3.
Assertion (A): Market economies encourage innovation.
Reason (R): Competition motivates producers to improve products.
Answer:
(a) Both (A) and (R) are true and (R) is the correct explanation of (A).
Question 4.
Assertion (A): Public goods are available to everyone.
Reason (R): Their use by one person does not prevent others from using them.
Answer:
(a) Both (A) and (R) are true and (R) is the correct explanation of (A).
Question 5.
Assertion (A): Most countries follow pure market economies.
Reason (R): Government intervention is absent in modem economies.
Answer:
(d) (A) is false but (R) is true.
Building Blocks in Economics The Problem of Choice Class 9 Fill in the Blanks
1. Human wants are ________ while resources are limited.
Answer:
unlimited
2. The value of the next best alternative forgone is called ________
Answer:
opportunity cost
3. ________ refers to natural resources used in production.
Answer:
Land
4. A ________ economy combines features of market and planned economies.
Answer:
mixed
5. Goods and services available to allure called ________ goods.
Answer:
public
6. The three central economic questions arise because of ________.
Answer:
scarcity
7. ________ production uses riiore machinery and technology.
Answer:
Capital-intensive
8. The Economic Survey of India is released every ________.
Answer:
year
Building Blocks in Economics The Problem of Choice Class 9 True or False
1. Human wants are limited.
Answer:
False
2. Every economic choice involves an opportunity cost.
Answer:
True
3. Capital refers only to money.
Answer:
False
4. Market economies depend on demand and supply.
Answer:
True
5. Roads and parks are examples of public goods.
Answer:
True
6. A mixed economy excludes government participation.
Answer:
False
7. Data plays an important role in economic decision – making.
Answer:
True
8. Most modem economies are mixed economies.
Answer:
True
Building Blocks in Economics The Problem of Choice Class 9 Match the Following
Question 1.
| Column A | Column B |
| (A) Scarcity | (i) Human effort used in production |
| (B) Opportunity Cost | (ii) Limited resources and unlimited wants |
| (C) Labour | (iii) Value of the next best alternative forgone |
| (D) Public Goods | (iv) Goods available to all citizens |
Options:
(a) (A) – (ii), (B) – (iii), (C) – (i), (D) – (iv)
(b) (A) – (iii), (B) – (ii), (C) – (iv), (D) – (i)
(c) (A) – (iv), (B) – (i), (C) – (ii), (D) – (iii)
(d) (A) – (i), (B) – (iv) (C) – (iii), (D) – (ii)
Answer:
(a) (A) – (ii), (B) – (iii), (C) – (i), (D) – (iv)
| Column A | Column B |
| (A) Scarcity | (i) Human effort used in production |
| (B) Opportunity Cost | (ii) Limited resources and unlimited wants |
| (C) Labour | (iii) Value of the next best alternative forgone |
| (D) Public Goods | (iv) Goods available to all citizens |
Question 2.
| Column A | Column B |
| (A) Market Economy | (ii) Limited resources and unlimited wants |
| (B) Planned Economy | (iii) Demand and supply guide decisions |
| (C) Mixed Economy | (i) Government decides economic activities |
| (D) Capital | (iv) Machinery and tools used in production |
Options:
(a) (A) – (i), (B) – (ii), (C) – (iii), (D) – (iv)
(b) (A) – (iii), (B) – (i), (C) – (ii), (D) – (iv)
(c) (A) – (iv), (B) – (iii), (C) – (i), (D) – (ii)
(d) (A) – (ii), (B) – (iv), (C) – (iii), (D) – (i)
Answer:
(b) (A) – (iii), (B) – (i), (C) – (ii), (D) – (iv)
| Column A | Column B |
| (A) Market Economy | (iii) Demand and supply guide decisions |
| (B) Planned Economy | (i) Government decides economic activities |
| (C) Mixed Economy | (ii) Combination of market and planned systems |
| (D) Capital | (iv) Machinery and tools used in production |