Q.1 Who explained Economics as “A Science of Wealth”?
Adam Smith J M keynes Lonel Robbins
Q.2 Who is known as father of Economics?
Adam Smith Alfred Marshall Lonel Robbins
Q.3 Economics is a science studying human behaviour as a relationship between ends and ________ means which have alternative uses.
Plenty Scarce none
Q.4 Human wants are unlimited, and means to satisfy them are_______.
limited unlimited none
Q.5 Micro- economics is also called as___________.
Price Theory Income Theory none
Q.6 Storage adds __________ utility by making commodities available when needed.
Time Place None
Q.7 _______ are the intangible substances satisfying human want.
Goods Services None
Q.8 _______ is capacity of a good to command other things in exchange.
Both Commodity Value
Q.9 Prof. Gray defined agricultural economics as “the science in which principles and methods of __________ are applied to special condition of agricultural industry”.
Both Social Science Economics
Q.10 Changing raw material into finished form__________.
Form Utility Place Utility Time Utility
Q.11 Wish to obtain a commodity___________.
want Desire None
Q.12 Creation of utility into matters___________.
Production consumption Exange
Q.13 Capacity of good to satisfy human want__________.
consumption satisfaction Utility
Q.14 Anything which has a value________.
welfare Wealth inflation
Q.15 Utility can be exactly measured______________.
Cardinal Utility Ordinal None
Q.16 The world “Economics” is derived from two Greek word Oikos and ___________.
parabis cateris Nomos
Q.17 The substance having power to satisfy human want is called_______.
Goods economics None
Q.18 The allocation of shares to individual factor of production, is termed as________.
Distribution Exange Production
Q.19 Using economic goods and services to satisfy want is termed as___________.
Consumption Production Exchange
Q.20 Major division of economics are______________.
Micro-economics Macro-economics Both
Q.21 Transfer of title of ownership is called as___________.
Distribution Exchange none
Q.22 Shifting from place of plenty to place of need_____________.
Form utility Place Utility Time Utility
Q.23 Transfer of Ownership___________.
Form utility Place Utility Possession Utility
Q.24 Utility cannot be measured or quantified__________.
Cardinal Ordinal Both
Q.25 Desire backed by genuineness________.
Utility Satisfaction Want
Number of score out of 25 = Score in percentage =
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