HSEB || Important Model Question for Economics Class 11

2. Basic Concepts and Issues of Economics

Long Answer Questions

1. What is production possibility curve? Explain it with the help of a table and diagram. [10]
2. Explain the concept of production possibility curve. [10]
3. Explain the concept of production curve. Why does it expand outwards? [10]
4. What do you understand by allocation of resource? Describe the production possibility curve graphically. [10]

Short Answer Questions

1. What is allocation of resources? [5]
2. What is scarcity? [5]
3. What are the characteristics of capital? [5]
4. What is production possibility curve? [5]
5. Define Gross Domestic Product and Gross National Product. [5]
6. Explain the characteristics of land. [5]
7. Write short note on scarcity and choice. [5]
8. Distinguish between Gross Domestic Product (GDP) and Gross National Product (GNP). [5]
9. Explain the concept of scarcity and choice. [5]
10. What are the characteristics of labour? [5]
11. What are the differences between Gross Domestic Product (GDP) and Gross National Product (GNP)? [5]
12. Write short notes on scarcity and choice. [5]
13. Explain the problems related to allocation of resources in economics. [5]
14. Write short notes on scarcity and choice. [5]
15. Explain the production possibility curve. [5]
16. Explain the characteristics of partnership. [5]
17. Write short notes on allocation of resources. [5]
18. What are the main features of land?
19. Define Gross Domestic Product (GDP) and Gross National Product (GNP). [5]
20. What is allocation of resources? [5]
21. What is meant by allocation of resources? [5]
22. What does scarcity mean in economics? [5]
23. What is meant by goods and services? Distinguish between them. [5]

Very Short Answer Questions

1. Write any four features of land. [2]
2. What is meant by capital? [2]
3. Write four characteristics of land. [2]
4. Mention any four features of capital. [2]
5. What is capital? [2]
6. What is meant by scarcity? [2]
7. Define economic problem. [2]
8. What is the main reason behind the origin of an economic problem? [2]
9. What do you mean by economizing resources? [2]
10. What is meant by resource allocation? [2]
11. What is meant by labour intensive technique of production? [2]
12. How do you select the most efficient technique of production? [2]
13. Define a production possibility curve. [2]
14. What does the production point inside the production possibility curve indicate? [2]
15. Why do central problems arise? [2]
16. What is the meaning of the problem ‘for whom to produce’? [2]
17. Define Gross Domestic Product (GDP). [2]
18. Define Gross National Product (GNP). [2]
19. Give any one difference between GDP and GNP. [2]
20. What is per capital income? [2]
21. Write any five examples of public goods. [2]
22. Define the meaning of normal good and inferior good. [2]
23. Define the meaning of private and public goods. [2]