Question # 1

Study of large aggregated of economic system is called

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Micro economics

Macro economics

Applied economics

All the three

Economics according to its scope is:

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Science

Art

Science & Art

Only positive science

Economics is a science:

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Political

Spiritual

Social

Scientific

Factors of production are:

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Two

Three

Four

Five

According to Neo Classical economists, Economics is science of

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Scarcity of means

Material welfare

Wealth

Unlimited wants

Walker, senior and Malthus belonged to school of thought

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Classical

Neo classical

Keynesian

None of these

Meaning of Economics:

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State management

Trade management

Household management

All of them

Which economist is called Aristotal of economics

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Marshall

Keynes

Adam Smith

Malthus

In which year the book named "An enquiry into the nature and causes of the wealth of nations" was written

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1696

1776

1803

1825

Who said that economics is the science of material welfare ?

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Adam smith

Marshall

Ricardo

Robbins

Who said that economics is the science of wealth ?

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Adam Smith

Robbins

Marshall

Pigou

Founder of neo-classical school of thought:

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Adam Smith

Marshall

Robbins

Keynes

The science in which conditions and incidents are checked from a particular point of view, is called

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Positive science

Normative science

Social science

All of three

Study of small units of an economic system is called

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Micro economics

Macro economics

Applied economics

All the three

Inductive method represents:

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General to particular

Particular to general

Normative science

Economic planning

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

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