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 Inductive method of deriving economic laws We move from general conditions to particulars conditions We move from particular conditions to general conditions Facts are stated in simple and easy way Stated in general way
2 Deductive method of deriving economic laws We move from general conditions to particular conditions We move from particular conditions to general conditions Stated in general way Different incidents are kept in view
3 Methods of deriving economic laws are Two Three Four Five
4 Which characteristic is not found in economic laws Not quantitative Cannot be predicted No punishment in case of going against law Definite and universal
5 Laws cannot be predicted Scientific laws Moral laws Economic laws Natural laws
6 Not acting upon economic laws One gets punishment Economy faces loss Only the people not acting, face loss No one is influenced
7 Economic laws are Definite and universal Of Conditional nature Of moral nature Of political nature
8 How many kinds of science are Two Three Four Five
9 Economics studies human behaviour from Individual angle Collective angle Individual & Collective angle None
10 Economics according to its scope is Science Art Science & Art Only positive science
11 Which statement is called subject matter of economics Problems of working individuals and their solution Planning of increase in production Unlimited wants and limited means Solution of problems of the individuals living away from the society
12 Which economist is called Aristotal of economics Marshall Keynes Adam Smith Malthus
13 Which economist did name economics as neutral science Pigou Keynes Robbins Marshall
14 Who is called founder of modern school of thought Robbins Cannon Keynes Malthus
15 Who did write the book named "General theory of employment, interest and money Robbins Pigou Keynes Cannon
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