BE 1

Economics is the science of ---------------

• wealth

• material wellbeing

• choice making

• all of the above

..........................is defined as the limited supply of resources which are used for the satisfaction of unlimited wants

• Scale of preference

• Scarcity

• Choice

• Abundance

ECONOMICS is ABOUT
________ decisions ,
        
      Savings  and ________
of economic resources.

• Rational, management

• Economic, management

• Economic, Investment

Economics is derived from a Greek word “OIKONOMIA which means ----------

• Household

• Management

• Family

• Household management

Identify

• Micro economics

• Macro economics

___________ economics is a macroeconomic theory of total spending in the economy and its effects on output, employment and inflation

• Keynesian

• Bayesian

• Palmasian

• Notasian

Identify

• Management economics

• Macro economics

• Business economics

According to Spencer -Business economics is the integration of economic theory with business practice for the purpose of ..........................................by managment

• Decision making

• forward planning

• both

• only one of them

Other name for business economics

• Micro economics

• Managerial economics

• Applied economics

• all the above

Branch of economics based on data and facts vs Branch of economics based on values, opinions

• Positive ,Normative

• Normative, Positive