Chapter 1 BASICS OF ECONOMICS

Who is called Father of Modern Economics

• Samuelson

• Alfred Marshall

• Adam smith

• F. W, Taylor

The Book "An Inquiry into the nature and causes of the Wealth of the nation" published in 1776 was Written By

• Samuelson

• Alfred Marshall

• Adam smith

• F. W, Taylor

who defined economics as "The Study of man in the ordinary business of life"

• Samuelson

• Alfred Marshall

• Adam smith

• F. W, Taylor

The world Economics is derived for the greek world

• "Oikonomia" or "Oikonomikos"

• "Oikanamiaa"

• "Oikonomonos"

• None of above

Which is not a type of Income

• Wages

• Commission

• Revenue

• Discount

Capital Expense refers to the expenditure that _________

• Does not create any assets

• create an assets

• create an liability

• None of above

Revenue Expense will have a Nature _________

• Regular & Recurring

• Irrregular & Non-recurring

• only Irrregular

• only Non-recurring

Savings = ______

• profit - loss

• Revenue - profit

• Income - Expenditure

• None of above

Savings is also called as________

• Spent Income

• UnSpent Income

• Gross Income

• None of these

What is the full form of GDP?

• Gross Disposable Payment

• Gender Diversity Program

• Gross Domestic Product

• None of these