Principles of Economics Icom Part 1 English Medium Online Test With Answers

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Principles of Economics Icom Part 1 English Medium Online Test

Sr. # Questions Answers Choice
1 Micro economics related to International trade Behavior of firm National income Personal income
2 Which laws are conditional State Economic Scientific Moral
3 The subject matter of Macro Economics is Consumer's behavior International trade Firm's behavior Price mechanism
4 The most clear and comprehensive definition of economics is given by Adam Smith Alfred Marshall Robbins A.C. Pigou
5 To describe as it is, after seeing and analyzing any event, is known as Normative science Positive science Biological science For casting science
6 New classical economist is Robbins Malthus Marshall Adam Smith
7 According to Robbins, the basic concept of Economics is Political problem Economic problem Psychological problem Religious problem
8 Which one is not included in macro economics National income Employment Price Investment
9 In which punishment is not applicable for the disobedience, the laws are Moral laws Laws of state Political laws Economic laws
10 Micro economics studies related to National income Unemployment Trade cycle Consumer's behavior
11 Of what nature state laws are Local Regional National International
12 Study of large aggregated of economic system is called Micro economics Macro economics Applied economics All the three
13 Study of small units of an economic system is called Micro economics Macro economics Applied economics All the three
14 Which economist did present the concept of macro economics Adam Smith Marshall Pigou Keynes
15 Marshall belonged to the country America England France Japan
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