| 1 |
Everyone should study economics is a |
- A. positive statement
- B. normative statement
- C. true statement
- D. nonsense
|
| 2 |
Robbins in his definition |
- A. talks of scarcity of resources
- B. preached moral values
- C. supports Adam smith view
- D. none of the above
|
| 3 |
Economics laws are: |
- A. Statements of tendencies in economic behaviour
- B. Unrealistic to deal with real economic problems.
- C. Absolute and certain like the laws of physical science
- D. Used to forecast the growth rate of an economy.
|
| 4 |
Who was the founder of classical school of thought? |
- A. Adam Smith
- B. Marshall
- C. Keynes
- D. Maithus
|
| 5 |
Scarcity means |
- A. non availability of goods
- B. high price of goods
- C. less supply than demand
- D. high profit of the firms
|
| 6 |
Marshall wrote the book |
- A. Introduction to economics
- B. Principles of economics
- C. Classical economics
- D. Micro economics theory
|
| 7 |
Who was the exponent of welfare economics. |
- A. Alfred Marshall.
- B. Adam smith.
- C. Lionel Robbins
- D. J.M. Keynes.
|
| 8 |
Who was the exponent of macro economics in recent times. |
- A. Adam Smith
- B. J.M. Keynes
- C. Marshall
- D. Maithus
|
| 9 |
The basic economic problem to all societies is |
- A. elimination of scarcity
- B. what how and for whom to produce
- C. equal distribution of wealth
- D. to develop agriculture
|
| 10 |
One of the following is not studied in Micro economics. |
- A. Equilibrium to the firm
- B. Distribution of rewards to factors of productions
- C. Banking system
- D. Market equilibrium
|
