Question # 1

Scarcity of goods means

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non availability of goods

high price of goods

People don't want to get such goods

the good is available but it is not free

Robbins in his definition

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talks of scarcity of resources

preached moral values

supports Adam smith view

none of the above

Micro economics concentrates

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on inflation

international economics relations

individual economics units

economics development of Pakistan

Which one is not doing an economic activity.

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One who is offering prayers.

One who works for wage.

One who rents out his property .

One who is an employee of Government

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

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Public finance

International trade.

Consumer behaviour.

National income.

Which laws are implemented with an executive authority .

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Economic laws

Moral laws

State laws

Physical laws

Robbins definition of economics spell out the existence of

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Economics problem

Social problem

Political problem

Moral problem

Economics problems arise because of

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greed

scarcity

dishonesty

laziness

Economic laws can be define as .

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A statement of social behaviour

Laws implement by an executive

Laws of the state

Statement of general economic tendencies

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

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Adam Smith

Carlyle and Ruskin

Alfred Marshall

Malthus

Who was the founder of classical school of thought?

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Adam Smith

Marshall

Keynes

Maithus

Loinel Robbins wrote a book entitled "Nature and Significance of economic science" in.

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1776

1998

1931

1936

Economic principle are also called

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economic law

economic theory

economic model

all of the above

The products which are not priced in the market are called .

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Economic goods

Non-economic goods

Merit goods

Social goods

Which laws are always subjected to certain conditions.

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Social

Political

Moral

Economic

Which statement is true?

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Economics is a physical and normative science

Economics is a social and natural science

Economics is physical and positive science

Economics is a social and normative science

Wants are unlimited for:

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Poor person

Rich person

All persons

None of them

A positive statement

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concerns what is

is always accurate

deals with values and opinions

cannot be tested in the real world

Marshall wrote the book

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Introduction to economics

Principles of economics

Classical economics

Micro economics theory

Economic problems arises because of.

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Unlimited wants.

Scarcity of resources.

Alternative use of resources.

All of the above

Validity of economics theories can never be proved with 100 percent certainty, because

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ceteris paribus clause

limited number of observation is possible

very large number of economic theories proved false in the past

b and c

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