Question # 1

Everyone should study economics is a

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positive statement

normative statement

true statement

nonsense

Who was the founder of classical school of thought?

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Adam Smith

Marshall

Keynes

Maithus

Which one is the non-economic activity.

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Service of a doctor

Morning walk

Service of teacher

Service of an advocate

All the products which are priced in the market are.

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Non economic products

Economic products

Private products

Public products

One of the following is not a part of macro economics.

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Public finance

International trade.

Consumer behaviour.

National income.

Which of the following is the subject matter of Economics.

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Optimum use of limited resources for the satisfaction of unlimited human wants.

Economic problems of the developing countries.

Labour problems.

Balance of payment problems.

Economics laws

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must be followed

are hated by people

show economic behavior of people

are unscientific

One or more persons living together and having a common budget is called

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union

organisation

household

house members

Macro economics deals with

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how to buy groceries

aggregate economics activity

establishment of a new firm

industrial activity

Market system means

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Socialism

Capitalism

a place where goods are traded

all of the above

Economic principle are also called

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economic law

economic theory

economic model

all of the above

Who criticized economics as "dismal Science".

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Alfred Marshall

Lionel Robbins

Carlyle and Ruskin

J.M. Keynes.

Select the correct statement

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Economics affects politics

Economics affects history

Geography affects economics

all of the above are true

Who said that "Economics is a science of human welfare"

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Adam Smith

Carlyle and Ruskin

Alfred Marshall

Malthus

Economics problems arise because of

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greed

scarcity

dishonesty

laziness

Wealth of nations

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is another name for united nations

is name of a book

indicates total wealth of rich countries

contains formulas to earn wealth

Which type of problems are brought under discussion in micro economics .

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Consumer's behaviour

International trade

Balance of payment

Public finance

All non materials products which can satisfy human wants are called.

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Economic goods

Services

Non-economics goods

Services

Prof. Robins wrote a book in 1931 entitled.

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General Theory of employment. Interest and money.

An inquiry into the nature and causes of wealth of nations.

Principle of economics.

Nature and Significance of economic science.

Adam Smith wrote a book entitled "An enquiry into the nature and causes of wealth of nation" in.

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1784

1792

1776

1796

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