| 1 |
Scope of economics is defined as: |
- A. Individual and aggregate economic behaviour of the people.
- B. Subject matter of economics.
- C. Welfare Economics.
- D. All of the abpove
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| 2 |
Who was the exponent of macro economics in recent times. |
- A. Adam Smith
- B. J.M. Keynes
- C. Marshall
- D. Maithus
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| 3 |
Wealth of Nations was written by |
- A. Adam Smith
- B. Malthus
- C. Marshall
- D. Newton
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| 4 |
Which statement relates to macroeconomics |
- A. Oil prices are rising in Pakistan
- B. Profit rate is high in textile industry
- C. The firms try to make huge profits
- D. The government had failed to control inflation
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| 5 |
The products which are not priced in the market are called . |
- A. Economic goods
- B. Non-economic goods
- C. Merit goods
- D. Social goods
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| 6 |
Select the correct statement |
- A. Economics affects politics
- B. Economics affects history
- C. Geography affects economics
- D. all of the above are true
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| 7 |
Scarcity means |
- A. non availability of goods
- B. high price of goods
- C. less supply than demand
- D. high profit of the firms
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| 8 |
According to Alfred Marshall, Economics should be taken as: |
- A. Positive economics
- B. Normative economics
- C. Welfare economics
- D. Applied economics
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| 9 |
Scarcity of goods means |
- A. non availability of goods
- B. high price of goods
- C. People don't want to get such goods
- D. the good is available but it is not free
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| 10 |
Economics |
- A. is more important than mathematics
- B. is a social science
- C. should be made compulsory for every student
- D. is difficult to study
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