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Social Science Building Blocks in Economics: The Problem of Choice Class 9 MCQ and Assertion Questions

10 Question MCQ (including Assertion) · Class 9 · Social Science · CBSE

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Chapter 8 - Building Blocks in Economics: The Problem of Choice | 10 questions | about 8 minutes

Practise Building Blocks in Economics: The Problem of Choice Class 9 with Teachoo's 10 Question MCQ (including Assertion) (Class 9 · Social Science · CBSE). Practise these questions in a free interactive quiz with answer feedback.

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Question 1 of 10
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Question 1 of 10
This is an annual document that reviews the country's economic performance during the past year, prepared by the Ministry of Finance. Which concept is being described?
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Question 2 of 10
A student spends pocket money on snacks instead of saving it for shoes. Which concept does this situation illustrate?
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Question 3 of 10

Assertion (A): Every point on the Production Possibility Curve represents the maximum output possible.

Reason (R): This is possible only when resources are used efficiently and nothing is wasted.

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Question 4 of 10
What does the question 'what to produce' ask, according to the chapter?
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Question 5 of 10

Assertion (A): Every economy must answer the questions of what, how and for whom to produce.

Reason (R): Scarcity, the mismatch between unlimited wants and limited resources, forces every economy to make choices.

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Question 6 of 10
Which of the following is listed as an economic entity in the chapter?
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Question 7 of 10
Arrange the following in the correct order, tracing how the word 'Economics' gets its meaning, as explained in the chapter:
I. Oikonomia is understood to mean household management
II. Nemein is identified as meaning management
III. The Greek word oikonomia is introduced as the origin of the word Economics
IV. Oikos is identified as meaning household
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Question 8 of 10
Which of the following is an example of a natural resource, as classified in the chapter?
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Question 9 of 10
Why is data needed to make economic decisions, according to the chapter?
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Question 10 of 10
In the chapter's farmer example, which two crop choices are compared for 'what to produce'?
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