Question # 1

Which type of problems are brought under discussion in micro economics .

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Consumer's behaviour

International trade

Balance of payment

Public finance

Who was the exponent of welfare economics.

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Alfred Marshall.

Adam smith.

Lionel Robbins

J.M. Keynes.

Which laws are implemented with an executive authority .

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Economic laws

Moral laws

State laws

Physical laws

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

Wants are unlimited for:

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Poor person

Rich person

All persons

None of them

Who was the exponent of macro economics in recent times.

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Adam Smith

J.M. Keynes

Marshall

Maithus

Marshall is his definition of economics

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uses the concept of material welfare

dislikes wealth

accuses Adam smith

Praises Robbins

Economics is a science which studies.

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Distribution of income

Optimum use of scarce resources.

Production of wealth only

Exchange of wealth only

Economics theory means

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economic policy

economic principles

descriptive economics

economics facts

Select the correct statement

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Economics affects politics

Economics affects history

Geography affects economics

all of the above are true

One of the following is not a characteristics of economic laws.

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Economic laws lack exactitude

Economic laws lack predictability

They are not universa!

They are not optional

Wealth of Nations was written in

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1976

1876

1776

1676

Wealth of Nations was written by

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Adam Smith

Malthus

Marshall

Newton

Everyone should study economics is a

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positive statement

normative statement

true statement

nonsense

Micro economics concentrates

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on inflation

international economics relations

individual economics units

economics development of Pakistan

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.

Who said that "Economics is a science of human welfare"

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Adam Smith

Carlyle and Ruskin

Alfred Marshall

Malthus

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

Ceteris paribus means

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other things equal

all variable are independent

all relationships are inverse

that no other assumptions are made

The products which are not priced in the market are called .

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Economic goods

Non-economic goods

Merit goods

Social goods

Marshall wrote the book

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Introduction to economics

Principles of economics

Classical economics

Micro economics theory

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Economics Ics Part 1 English Medium Chapter 1 Online Test MCQs With Answers

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