Question # 1

Economic principle are also called

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economic law

economic theory

economic model

all of the above

Father of the political economy

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Adam smith

Malthus

Marshall

Samuelson

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

Which one is the non-economic activity.

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Service of a doctor

Morning walk

Service of teacher

Service of an advocate

Who was the founder of classical school of thought?

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Adam Smith

Marshall

Keynes

Maithus

Who criticized economics as "dismal Science".

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Alfred Marshall

Lionel Robbins

Carlyle and Ruskin

J.M. Keynes.

Who was the exponent of welfare economics.

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Alfred Marshall.

Adam smith.

Lionel Robbins

J.M. Keynes.

Marshall wrote the book

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Introduction to economics

Principles of economics

Classical economics

Micro economics theory

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

Economics

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is more important than mathematics

is a social science

should be made compulsory for every student

is difficult to study

One of the following is not a characteristics of economic laws.

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Economic laws lack exactitude

Economic laws lack predictability

They are not universa!

They are not optional

Wants are unlimited for:

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Poor person

Rich person

All persons

None of them

Wealth of Nations was written by

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Adam Smith

Malthus

Marshall

Newton

Ceteris paribus means

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other things equal

all variable are independent

all relationships are inverse

that no other assumptions are made

Who was the exponent of macro economics in recent times.

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Adam Smith

J.M. Keynes

Marshall

Maithus

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

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Adam Smith

Carlyle and Ruskin

Alfred Marshall

Malthus

normative economics

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deals solely with the facts

is never studied in colleges

involves opinions and interpretations

is clearly preferable to positive economics

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.

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

Robbins definition of economics spell out the existence of

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Economics problem

Social problem

Political problem

Moral problem

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