Question # 1

All non materials products which can satisfy human wants are called.

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Economic goods

Services

Non-economics goods

Services

Economics laws are

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exact

approximate

brief

definite

Scarcity exists

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in only poor countries

in a country that uses resources inefficiently

in all countries of the world

when society produces unimportant goods

The basic economic problem to all societies is

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elimination of scarcity

what how and for whom to produce

equal distribution of wealth

to develop agriculture

Economics problems arise because of

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greed

scarcity

dishonesty

laziness

Which laws are implemented with an executive authority .

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Economic laws

Moral laws

State laws

Physical laws

Economic laws can be define as .

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A statement of social behaviour

Laws implement by an executive

Laws of the state

Statement of general economic tendencies

Which statement is true?

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Economics is a physical and normative science

Economics is a social and natural science

Economics is physical and positive science

Economics is a social and normative science

In which year Alfred Marshall wrote a book entitled "Principle of economics"

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1850

190

1870

1890

Marshall wrote the book

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Introduction to economics

Principles of economics

Classical economics

Micro economics theory

Loinel Robbins wrote a book entitled "Nature and Significance of economic science" in.

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1776

1998

1931

1936

In economics, assumptions

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make economics theory useless

mean other things equal

enable economics to simplify reality

used in micro and not in macroeconomics

Which one is not doing an economic activity.

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One who is offering prayers.

One who works for wage.

One who rents out his property .

One who is an employee of Government

Three basic economics problems are

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what, how and for whom

why, where and when

what, which and how much

what, which and why

Wants are unlimited for:

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Poor person

Rich person

All persons

None of them

Select the correct statement

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Economics affects politics

Economics affects history

Geography affects economics

all of the above are true

One or more persons living together and having a common budget is called

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union

organisation

household

house members

Prof. Robins wrote a book in 1931 entitled.

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General Theory of employment. Interest and money.

An inquiry into the nature and causes of wealth of nations.

Principle of economics.

Nature and Significance of economic science.

Micro economics concentrates

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on inflation

international economics relations

individual economics units

economics development of Pakistan

A positive statement

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concerns what is

is always accurate

deals with values and opinions

cannot be tested in the real world

Wealth of Nations was written by

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Adam Smith

Malthus

Marshall

Newton

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