| 1 |
Scope of economics is defined as: |
- A. Individual and aggregate economic behaviour of the people.
- B. Subject matter of economics.
- C. Welfare Economics.
- D. All of the abpove
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| 2 |
Which laws are implemented with an executive authority . |
- A. Economic laws
- B. Moral laws
- C. State laws
- D. Physical laws
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| 3 |
Select the correct statement |
- A. Economics affects politics
- B. Economics affects history
- C. Geography affects economics
- D. all of the above are true
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| 4 |
Economic laws can be define as . |
- A. A statement of social behaviour
- B. Laws implement by an executive
- C. Laws of the state
- D. Statement of general economic tendencies
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| 5 |
The products which are not priced in the market are called . |
- A. Economic goods
- B. Non-economic goods
- C. Merit goods
- D. Social goods
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| 6 |
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.
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| 7 |
Who was the founder of classical school of thought? |
- A. Adam Smith
- B. Marshall
- C. Keynes
- D. Maithus
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| 8 |
Scarcity exists |
- A. in only poor countries
- B. in a country that uses resources inefficiently
- C. in all countries of the world
- D. when society produces unimportant goods
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| 9 |
Wealth of Nations was written by |
- A. Adam Smith
- B. Malthus
- C. Marshall
- D. Newton
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| 10 |
Wealth of Nations was written in |
- A. 1976
- B. 1876
- C. 1776
- D. 1676
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