ECO QUIZ 1

Who is known as "Father of Economics"

• Adam Smith

• David Ricardo

• Alfred Marshal

• J M Keynes

Who gave the theory of Employment

• Adam Smith

• Milton Friedman

• David Ricardo

• J M Keynes

A person or organization that uses a product or service is a(n):

• consumer
• economist
• loan shark
• debtor

House: Goods or Service?

• Goods
• Service

When the quantity supplied is greater than the quantity demanded

• a shortage has occurred.
• a surplus has occurred.
• it doesn't mean anything.
• government intervenes.