Q.1 Which of the following definition of Economics include the concept of “scale of preference?
Wealth definition Income definition Scarcity definition Growth definition
Q.2 Economic is primarily a study of__________.
Wealth Man welfare Money
Q.3 The creation of utility by the way of marketing is called as_________.
Production Consumption Distribution Exchange
Q.4 The definition of Economics given by Alfred Marshall has neglected_________.
Material welfare Both Non-material welfare None
Q.5 Rent , wages, interest and profit are related to the term__________.
Production Exchange Consumption Distribution
Q.6 Economic is a____________.
Science Art Both None
Q.7 Economics laws are_________.
Hypothetical Certain Exact None
Q.8 Agricultural economics is an applied field of_______.
Politics management Economics society
Q.9 Study of the economy as a whole (national level) is known as___________.
Microeconomics Socioeconomics Macroeconomics None
Q.10 Micro economics theory deals with_______.
Economic behavior of individual economic decision making units Trade relations Economy as a whole Economic growth of the society
Q.11 Normative economic theory deals with______.
What is or how the economic problem facing the society are solved What to Produce How the problem should be solved How to produce
Q.12 In a mixed economy which sector(s) is/ are found______.
Private Only Public sector only None Both a and b
Q.13 Economic resources are________.
Unlimited Limited in supply but have alternative uses Limited in supply and use Unproductive
Q.14 The famous book “An enquiry into the nature and causes of wealth of Nation” was written by –_________.
Adam Smith Robertson Samuelson JB Say
Q.15 The famous book “An enquiry into the nature and causes of wealth of Nation” was published in-_______.
1776 1850 1750 1886
Q.16 Economics cannot be considered a perfect science because_______.
Human behaviour is unpredictable Economist do not have common opinion about a particular economic event It is difficult to make correct prediction of economic variables All the three
Q.17 The basic assumption of an economic analysis is/ are________.
Cetris paribus Rational behavior Both None
Q.18 ________is known as father of economics.
Adam Smith Alfred Marshall Prof. Samuelson J R Hicks
Q.19 44. ________ is the power regulated of all the economy activity in capitalistic economy.
Demand Price Supply Consumption
Q.20 __________refers to destruction of utility.
Cosumption exchange production None
Q.21 Consumption is destruction of __________.
Product Utility of goods Good All a, b & c
Q.22 Production is ______.
Creation of utility Destruction of utility Distribution of good None
Q.23 Consumption Goods are also called goods of the_________.
First order Last order Second order None
Q.24 Which of the following is/ are not an economic resource?
Land Labour Capita Air
Q.25 Which of the following is/ are an economic resource?
Land Labour Capita All the three
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