Quiz on Principles of Economics by Alfred Marshall

In what year was 'Principles of Economics' first published?

• 1900

• 1880

• 1890

• 1920

Who is the author of 'Principles of Economics'?

• John Maynard Keynes

• Adam Smith

• Alfred Marshall

• David Ricardo

How many editions of 'Principles of Economics' were published by 1920?

• Five

• Six

• Seven

• Eight

What is the main subject of 'Principles of Economics'?

• History

• Political Science

• Economics

• Sociology

Which book is considered Alfred Marshall's magnum opus?

• The General Theory

• The Wealth of Nations

• Principles of Economics

• Capital

What concept did Marshall popularize that relates to price determination?

• Supply and Demand Functions

• Marginal Utility

• Comparative Advantage

• Opportunity Cost

What is the focus of Book IV in 'Principles of Economics'?

• Fundamental Notions

• Distribution of National Income

• Agents of Production

• Wants and Their Satisfaction

What term did Marshall use to describe the surplus in economic welfare?

• Consumer Surplus

• Producer Surplus

• Marshallian Surplus

• Economic Surplus

What was the main reason for the modern prosperity of new countries according to Marshall?

• Local resources

• Old world markets

• Technological advancements

• Labor force

Which of the following is NOT a part of the contents of 'Principles of Economics'?

• General Relations of Demand, Supply, and Value

• The Role of Government

• The Distribution of National Income

• The Agents of Production