Question # 1

Methods of deriving economic laws are

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Two

Three

Four

Five

Which statement is called subject matter of economics

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Problems of working individuals and their solution

Planning of increase in production

Unlimited wants and limited means

Solution of problems of the individuals living away from the society

Which economist did name economics as neutral science

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Pigou

Keynes

Robbins

Marshall

Founder of modern school of thought:

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Adam smith

Marshall

Ricardo

Robbins

Deductive method of deriving economic laws

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We move from general conditions to particular conditions

We move from particular conditions to general conditions

Stated in general way

Different incidents are kept in view

Ceteris paribus means:

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Other things remain the same

Assumptions of the law

Conditions of the law

All of them

Economic law are made by:

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Govt.

Courts

Parliament

Behaviour of the people

Meaning of Economics:

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State management

Trade management

Household management

All of them

According to Marshall, Economics is

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Social Science

Correcting science

Positive science

Moral science

Walker, senior and Malthus belonged to school of thought

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Classical

Neo classical

Keynesian

None of these

In which punishment is not applicable for the disobedience, the laws are

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Moral laws

Laws of state

Political laws

Economic laws

How many kinds of science are

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Two

Three

Four

Five

"General theory of employment, interest and money" was written in:

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1930

1936

1932

1890

Which characteristic is not found in economic laws

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Not quantitative

Cannot be predicted

No punishment in case of going against law

Definite and universal

Study of small units of the economoy is known is:

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Micro economics

Macro economics

Applied economics

All of them

When after the observation and analysis of the conditions, they are stated as they are, is called

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Normative science

Positive science

Vegetation science

Science of Prediction

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Principles of Economics Icom Part 1 English Medium Chapter 1 Online Test MCQs With Answers

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