Principles of Economics Icom Part 1 English Medium Online Test With Answers

Principles of Economics Icom Part 1 English Medium Online Test

Sr. # Questions Answers Choice
1 Consumer's behaviour means: Selection Purchase Sale Both (a) and (b)
2 Micro economics studies related to: National income Unemployment Trade cycle Consumers behaviour
3 Exact perdition not possible in: Economic laws Science laws Moral laws Social law
4 Economics is a science which studies. Production of wealth only Consumption of wealth only Optimum use of scare resources Welfare only
5 Inductive method represents: General to particular Particular to general Normative science Economic planning
6 Deductive method of economic study. Systematic General to particular Universal to particular Both (b) and (c)
7 Economic law are made by: Govt. Courts Parliament Behaviour of the people
8 Who said that economics is normative science ? Keynes Robbins Marshall Rocher
9 Ceteris paribus means: Other things remain the same Assumptions of the law Conditions of the law All of them
10 Economic problem arises due to: Unlimited wants Limited resources Resources have alternative use All of them
11 Methods to derive economic laws: One Two Three Four
12 Study of large units of the economy is known as: Micro economics Macro ecnomics Applied economics All of them
13 Study of small units of the economoy is known is: Micro economics Macro economics Applied economics All of them
14 Who said that economics is positive science ? Adam smith Marshall Robbins Keynes
15 Which economist said that, economics cannot be separated from spiritual values? Marshall Robbins Adam smith Voton
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