| 1 |
Validity of economics theories can never be proved with 100 percent certainty, because |
- A. ceteris paribus clause
- B. limited number of observation is possible
- C. very large number of economic theories proved false in the past
- D. b and c
|
| 2 |
Prof. Marshall thinks |
- A. Economics studies national welfare
- B. Economics studies personal welfare
- C. Economics studies total welfare
- D. Economics studies material welfare
|
| 3 |
Who was the founder of classical school of thought? |
- A. Adam Smith
- B. Marshall
- C. Keynes
- D. Maithus
|
| 4 |
Adam Smith wrote a book entitled "An enquiry into the nature and causes of wealth of nation" in. |
- A. 1784
- B. 1792
- C. 1776
- D. 1796
|
| 5 |
Father of the political economy |
- A. Adam smith
- B. Malthus
- C. Marshall
- D. Samuelson
|
| 6 |
Economics is a science |
- A. Spiritual
- B. Social
- C. dismal
- D. moral
|
| 7 |
Basic economic problem is |
- A. inflation
- B. unemployment
- C. scarcity
- D. lack of money
|
| 8 |
Scarcity means |
- A. non availability of goods
- B. high price of goods
- C. less supply than demand
- D. high profit of the firms
|
| 9 |
Which laws are always subjected to certain conditions. |
- A. Social
- B. Political
- C. Moral
- D. Economic
|
| 10 |
Economic problems arises because of. |
- A. Unlimited wants.
- B. Scarcity of resources.
- C. Alternative use of resources.
- D. All of the above
|
