SEBA Class 9 Social Science Economics Chapter 1 Basic Concepts of Economics MCQs (2026–27) – Assam Eduverse

Q21. Assertion (A): Economics deals with scarcity.
Reason (R): Human wants are unlimited but resources are limited.
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
Answer: a) Both A and R are true and R is the correct explanation of A

Q22. Assertion (A): Adam Smith’s definition is called wealth definition.
Reason (R): He defined economics as the science of welfare.
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
Answer: c) A is true but R is false

Q23. Assertion (A): Free goods have a price.
Reason (R): Their supply is limited compared to demand.
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
Answer: d) A is false but R is true

Q24. Assertion (A): Capital helps in production.
Reason (R): Capital includes tools, machines and equipment.
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
Answer: a) Both A and R are true and R is the correct explanation of A

Q25. Assertion (A): Micro economics studies the aggregate economy.
Reason (R): Macro economics studies the economy as a whole.
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
Answer: d) A is false but R is true

Q26. Assertion (A): Welfare economics is concerned with human welfare.
Reason (R): Welfare can be measured only in money.
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
Answer: c) A is true but R is false

Q27. Assertion (A): Demand means only desire for a commodity.
Reason (R): Desire must be supported by purchasing power to become demand.
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
Answer: d) A is false but R is true

Q28. Assertion (A): Savings is the portion of income not used for consumption.
Reason (R): Savings is a good means of capital formation.
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
Answer: b) Both A and R are true but R is not the correct explanation

Q29. Assertion (A): National income is the money value of all goods and services produced in a country in a financial year.
Reason (R): Per capita income is calculated by dividing national income by population.
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
Answer: b) Both A and R are true but R is not the correct explanation

Q30. Assertion (A): Macro economics studies individual units.
Reason (R): Micro economics studies individual consumers and firms.
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
Answer: d) A is false but R is true

Q31. Which of the following are included in the scope of economics?
i) Production
ii) Distribution
iii) Consumption
iv) Public finance
a) i and ii
b) i, ii and iii
c) ii and iv
d) i, ii, iii and iv
Answer: d) i, ii, iii and iv

Q32. Which economists gave definitions of economics?
i) Adam Smith
ii) Alfred Marshall
iii) Lionel Robbins
iv) Amartya Sen
a) i and ii
b) i, ii and iii
c) ii and iv
d) i, ii, iii and iv
Answer: b) i, ii and iii

Q33. According to Robbins’ definition, the main points are:
i) Unlimited wants
ii) Limited resources
iii) Alternative uses of resources
iv) Elimination of scarcity
a) i and ii
b) i, ii and iii
c) ii and iv
d) i, ii, iii and iv
Answer: b) i, ii and iii

Q34. Examples of capital goods are:
i) Machines
ii) Tools
iii) Equipment
iv) Bread
a) i and ii
b) i, ii and iii
c) ii and iv
d) i, ii, iii and iv
Answer: b) i, ii and iii

Q35. Examples of free goods are:
i) Sunlight
ii) Air
iii) Wind
iv) Furniture
a) i and ii
b) i, ii and iii
c) ii and iv
d) i, ii, iii and iv
Answer: b) i, ii and iii

Q36. Welfare can be:
i) Economic welfare
ii) Non-economic welfare
iii) Only monetary welfare
iv) Only social welfare
a) i and ii
b) i, ii and iii
c) ii and iv
d) i, ii, iii and iv
Answer: a) i and ii

Q37. Market in economics means:
i) A place only
ii) An arrangement of buying and selling
iii) Direct buying and selling
iv) Indirect buying and selling
a) i and ii
b) ii, iii and iv
c) ii and iii
d) i, ii, iii and iv
Answer: b) ii, iii and iv

Q38. Capital formation depends on:
i) Savings
ii) Investment
iii) Consumption
iv) Production
a) i and ii
b) i, ii and iii
c) ii and iv
d) i, ii, iii and iv
Answer: a) i and ii

Q39. Economics of environment deals with:
i) Industrialisation
ii) Environmental imbalance
iii) Restoration of environmental equilibrium
iv) Religious reforms
a) i and ii
b) i, ii and iii
c) ii and iv
d) i, ii, iii and iv
Answer: b) i, ii and iii

Q40. Micro economics studies:
i) Individual consumer
ii) Individual firm
iii) Whole economy
iv) Individual producer
a) i and ii
b) i, ii and iii
c) i, ii and iv
d) i, ii, iii and iv
Answer: c) i, ii and iv