ECONOMICS QUIZ 1

ECONOMICS QUIZ 1

1st - 5th Grade

15 Qs

quiz-placeholder

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ECONOMICS QUIZ 1

ECONOMICS QUIZ 1

Assessment

Quiz

Physics

1st - 5th Grade

Practice Problem

Hard

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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Adam Smith published his master piece “An enquiry into the nature and causes of wealth of nations” in the year __________.

1776

1786

1789

1790

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who defines Economics in terms of Dynamic Growth and Development?

Robbins

Paul A Samuelson

Adam Smith

none

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All wants of an individual are not of:

Equal importance

Immediate importance

Fixed importance

All of the above

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which one of the following is incorrect about Business Economics?

It is applied economics that fills the gap between economic theory and business practice.

Business Economics integrates economic theory with business practice.

Business Economics is also re-ferred to as Managerial Econom-ics.

Business Economics is more concerned with Macro Economics.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

analyses causes and effect relationship between variables in an objective and  scientific manner.

Positive  Science

Normative  Science

Negative Science

Analytical Science

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Central problem in every eco-nomic society is:

To ensure a minimum level of income for every individual.

To allocate scarce resources in such a manner that societies unlimited wants are satisfied in the best possible manner.

To ensure that production occurs in the most efficient manner.

To provide job to every jobseeker.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not one of the four central questions that the study of economics is supposed to answer?

Who produces what ?

When are goods produced?

Who consumes what?

How are goods produced?

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