NET: Assignment_1

Which of these is not a cause of economic problem?

• unlimited wants

• limited resources

• exchange

• alternate uses

Which of the following is an economic activity?

• Production

• consumption

• distribution

• all of the above

The person who produces or sells goods and services for the generation of Income is....…

• Consumers

• Buyers

• Producers

• Entrepreneurs

Who has written the book 'Wealth of Nation'?

• J. M. Keynes

• Adam Smith

• Alfred Marshall

• A. C. Pigou

What is the primary focus of microeconomics?

• 1. National economies  

• 1. Individual markets and entities  

• 1. Global economic trends  

• 1. Government policies  

Inflation is generally measured using which index in India?

• 2. Gross Domestic Product Deflator (GDP Deflator)  

• 1. Producer Price Index (PPI)  

• 1. Wholesale Price Index (WPI)  

• 1. Consumer Price Index (CPI)  

What characterizes a mixed economy?

• 1. Modern and traditional industries  

• 1. Commercial and subsistence farming

• 1. Public and private sectors  

• 1. Foreign and domestic investments  

Which of the following statement is true?

• Human wants are infinite

• Resources are limited

• Scarcity problem gives birth to choice

• All of these

To which factor, economic problem is basically related to:

• Choice

• Consumer's Selection

• Firm Selection

• None of these

In which economy do consumers and producers make choices based on market forces of supply and demand?

• 1. Market economy

• 1. Open economy

• 1. Controlled economy

• 2. Command economy