| 1 |
Macro economics deals with |
- A. how to buy groceries
- B. aggregate economics activity
- C. establishment of a new firm
- D. industrial activity
|
| 2 |
One or more persons living together and having a common budget is called |
- A. union
- B. organisation
- C. household
- D. house members
|
| 3 |
Adam smith was a |
- A. President of France
- B. a modern economist
- C. good sports man
- D. classical economist
|
| 4 |
Who said that "Economics is a science of human welfare" |
- A. Adam Smith
- B. Carlyle and Ruskin
- C. Alfred Marshall
- D. Malthus
|
| 5 |
Father of the political economy |
- A. Adam smith
- B. Malthus
- C. Marshall
- D. Samuelson
|
| 6 |
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
|
| 7 |
Scarcity exists |
- A. in only poor countries
- B. in a country that uses resources inefficiently
- C. in all countries of the world
- D. when society produces unimportant goods
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| 8 |
Wants are unlimited for: |
- A. Poor person
- B. Rich person
- C. All persons
- D. None of them
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| 9 |
Everyone should study economics is a |
- A. positive statement
- B. normative statement
- C. true statement
- D. nonsense
|
| 10 |
Ceteris paribus means |
- A. other things equal
- B. all variable are independent
- C. all relationships are inverse
- D. that no other assumptions are made
|