| 1 |
Adam Smith wrote a book entitled "An enquiry into the nature and causes of wealth of nation" in. |
- A. 1784
- B. 1792
- C. 1776
- D. 1796
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| 2 |
Marshall wrote the book |
- A. Introduction to economics
- B. Principles of economics
- C. Classical economics
- D. Micro economics theory
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| 3 |
All the products which are priced in the market are. |
- A. Non economic products
- B. Economic products
- C. Private products
- D. Public products
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| 4 |
One of the following is not studied in Micro economics. |
- A. Equilibrium to the firm
- B. Distribution of rewards to factors of productions
- C. Banking system
- D. Market equilibrium
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| 5 |
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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| 6 |
Economics problems arise because of |
- A. greed
- B. scarcity
- C. dishonesty
- D. laziness
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| 7 |
Father of the political economy |
- A. Adam smith
- B. Malthus
- C. Marshall
- D. Samuelson
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| 8 |
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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| 9 |
normative economics |
- A. deals solely with the facts
- B. is never studied in colleges
- C. involves opinions and interpretations
- D. is clearly preferable to positive economics
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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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