| 1 |
One of the following is not a part of macro economics. |
- A. Public finance
- B. International trade.
- C. Consumer behaviour.
- D. National income.
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| 2 |
Micro economics concentrates |
- A. on inflation
- B. international economics relations
- C. individual economics units
- D. economics development of Pakistan
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| 3 |
Who criticized economics as "dismal Science". |
- A. Alfred Marshall
- B. Lionel Robbins
- C. Carlyle and Ruskin
- D. J.M. Keynes.
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| 4 |
Everyone should study economics is a |
- A. positive statement
- B. normative statement
- C. true statement
- D. nonsense
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| 5 |
Wealth of nations |
- A. is another name for united nations
- B. is name of a book
- C. indicates total wealth of rich countries
- D. contains formulas to earn wealth
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| 6 |
Which statement is true? |
- A. Economics is a physical and normative science
- B. Economics is a social and natural science
- C. Economics is physical and positive science
- D. Economics is a social and normative science
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| 7 |
Which of the following is the subject matter of Economics. |
- A. Optimum use of limited resources for the satisfaction of unlimited human wants.
- B. Economic problems of the developing countries.
- C. Labour problems.
- D. Balance of payment problems.
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| 8 |
Validity of economics theories can never be proved with 100 percent certainty, because |
- A. ceteris paribus clause
- B. limited number of observation is possible
- C. very large number of economic theories proved false in the past
- D. b and c
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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 |
Market system means |
- A. Socialism
- B. Capitalism
- C. a place where goods are traded
- D. all of the above
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