[{"id":99413,"question":"Marshall wrote the book","choices":[{"text":"Classical economics","value":"A"},{"text":"Introduction to economics","value":"B"},{"text":"Micro economics theory","value":"C"},{"text":"Principles of economics","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":99412,"question":"Wealth of nations","choices":[{"text":"is another name for united nations","value":"A"},{"text":"is name of a book","value":"B"},{"text":"indicates total wealth of rich countries","value":"C"},{"text":"contains formulas to earn wealth","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":99411,"question":"Marshall is his definition of economics","choices":[{"text":"uses the concept of material welfare","value":"A"},{"text":"dislikes wealth","value":"B"},{"text":"accuses Adam smith","value":"C"},{"text":"Praises Robbins","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":99410,"question":"Adam smith was a","choices":[{"text":"President of France","value":"A"},{"text":"a modern economist","value":"B"},{"text":"good sports man","value":"C"},{"text":"classical economist","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":99409,"question":"Economics laws","choices":[{"text":"must be followed","value":"A"},{"text":"are hated by people","value":"B"},{"text":"show economic behavior of people","value":"C"},{"text":"are unscientific","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":99408,"question":"Economics","choices":[{"text":"is more important than mathematics","value":"A"},{"text":"is a social science","value":"B"},{"text":"should be made compulsory for every student","value":"C"},{"text":"is difficult to study","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":99407,"question":"Three basic economics problems are","choices":[{"text":"what, how and for whom","value":"A"},{"text":"why, where and when","value":"B"},{"text":"what, which and how much","value":"C"},{"text":"what, which and why","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":99406,"question":"Macro economics deals with","choices":[{"text":"how to buy groceries","value":"A"},{"text":"aggregate economics activity","value":"B"},{"text":"establishment of a new firm","value":"C"},{"text":"industrial activity","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":99405,"question":"Micro economics concentrates","choices":[{"text":"on inflation","value":"A"},{"text":"international economics relations","value":"B"},{"text":"individual economics units","value":"C"},{"text":"economics development of Pakistan","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":99404,"question":"Scarcity exists","choices":[{"text":"in only poor countries","value":"A"},{"text":"in a country that uses resources inefficiently","value":"B"},{"text":"in all countries of the world","value":"C"},{"text":"when society produces unimportant goods","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":99403,"question":"Basic economic problem is","choices":[{"text":"inflation","value":"A"},{"text":"unemployment","value":"B"},{"text":"scarcity","value":"C"},{"text":"lack of money","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":99402,"question":"normative economics","choices":[{"text":"deals solely with the facts","value":"A"},{"text":"is never studied in colleges","value":"B"},{"text":"involves opinions and interpretations","value":"C"},{"text":"is clearly preferable to positive economics","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":99401,"question":"A positive statement","choices":[{"text":"concerns what is","value":"A"},{"text":"is always accurate","value":"B"},{"text":"deals with values and opinions","value":"C"},{"text":"cannot be tested in the real world","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":99400,"question":"In economics, assumptions","choices":[{"text":"make economics theory useless","value":"A"},{"text":"mean other things equal","value":"B"},{"text":"enable economics to simplify reality","value":"C"},{"text":"used in micro and not in macroeconomics","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":99399,"question":"Ceteris paribus means","choices":[{"text":"other things equal","value":"A"},{"text":"all variable are independent","value":"B"},{"text":"all relationships are inverse","value":"C"},{"text":"that no other assumptions are made","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":99398,"question":"Which statement is true?","choices":[{"text":"Economics is a physical and normative science","value":"A"},{"text":"Economics is a social and natural science","value":"B"},{"text":"Economics is physical and positive science","value":"C"},{"text":"Economics is a social and normative science","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":99397,"question":"Which statement relates to macroeconomics","choices":[{"text":"Oil prices are rising in Pakistan","value":"A"},{"text":"Profit rate is high in textile industry","value":"B"},{"text":"The firms try to make huge profits","value":"C"},{"text":"The government had failed to control inflation","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":99396,"question":"Economics problems arise because of","choices":[{"text":"greed","value":"A"},{"text":"scarcity","value":"B"},{"text":"dishonesty","value":"C"},{"text":"laziness","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":99395,"question":"Economics is a science","choices":[{"text":"Spiritual","value":"A"},{"text":"Social","value":"B"},{"text":"dismal","value":"C"},{"text":"moral","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":99393,"question":"Economics laws are","choices":[{"text":"exact","value":"A"},{"text":"approximate","value":"B"},{"text":"brief","value":"C"},{"text":"definite","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":99392,"question":"He described economics as a science of material welfare","choices":[{"text":"Robbins","value":"A"},{"text":"Marshall","value":"B"},{"text":"Ricardo","value":"C"},{"text":"Keyness","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":99391,"question":"Father of the political economy","choices":[{"text":"Adam smith","value":"A"},{"text":"Malthus","value":"B"},{"text":"Marshall","value":"C"},{"text":"Samuelson","value":"D"},{"value":"E"}],"correctAnswer":1}]