Question # 1

Which statement is called subject matter of economics

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Problems of working individuals and their solution

Planning of increase in production

Unlimited wants and limited means

Solution of problems of the individuals living away from the society

In how many parts professor Adam smith divided his book "Wealth of nations"

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Two

Three

Four

Five

To derive economic laws inductive method was adopted by

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Classical school of thought

Neo classical school of thought

Historical school of thought

Modern school of thought

Adam Smith belongs to:

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Poland

Scotland

Ireland

Holland

Micro economics studies related to

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National income

Unemployment

Trade cycle

Consumer's behavior

Deductive method of economic study.

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Systematic

General to particular

Universal to particular

Both (b) and (c)

Behavior adopted on the basis of unlimited wants and limited means, is named

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Science

Art

Economics

Struggle

How many kinds are of positive economics

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Two

Three

Four

Five

Which economist is called Aristotal of economics

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Marshall

Keynes

Adam Smith

Malthus

Micro economics related to

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International trade

Behavior of firm

National income

Personal income

Study of large aggregated of economic system is called

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Micro economics

Macro economics

Applied economics

All the three

Who did separate economics from political science for the first time

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Marshall

Malthus

Adam smith

Ricardo

Inductive method represents:

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General to particular

Particular to general

Normative science

Economic planning

According to Robbins, the basic concept of Economics is

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Political problem

Economic problem

Psychological problem

Religious problem

Study of large units of the economy is known as:

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Micro economics

Macro ecnomics

Applied economics

All of them

"Principles of Economics" was written by.

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Adam smith

Marshall

Robbins

Canon

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

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