Sunday, 19 March 2017

Quiz-9

1. Adam smith defined Economics as a
a) Study of welfare
b)Study of ‘means’ and ‘ends’
c)  Study of Wealth
d)None of these

2. Macroeconomics deals with
a) Gross domestic product
b)Unemployment rate
c)Price indices
d)All the above

3. Who is considered as the founder of the field of Microeconomics?
a)Lionel Robbins
b)Amartya Sen
c)Adam Smith
d)Prof. Alfred Marshall

4. Microeconomics is concerned with the behaviour of
a)Gross domestic product
b)Individual entities
c)Economy as a whole
d)None of the above

5. Ends refer to
a)Demand
b)Resources
c)Utility
d)Wants

6. A market economy is one
a)In which individuals and private firms make the major decisions about production and consumption
b)In which the government makes all important decisions about production and distribution.
c)Both the above
d) None of these

7. India is a
a)Capitalistic Economy
b)Socialistic Economy
c)Mixed Economy
d)Laissez-faire economy

8. Laissez-faire economy is
a)The extreme case of market economy
b)The extreme case of a Command Economy
c)The extreme case of a mixed economy
d)None of these

9. Market economy is also known as
   a)Mixed Economy
   b)Capitalistic Economy
  c)Command Economy
  d)Socialistic Economy

10.                  Which of the following is a Capitalistic Economy?
a)England
b)China
c)India
d)None of the above

Ans:
1
2
3
4
5
6
7
8
9
10
c
d
c
b
d
a
c
a
b
a


For study material/short note related to above click here

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