Quiz 3

Quiz 3

University

10 Qs

quiz-placeholder

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Quiz 3

Quiz 3

Assessment

Quiz

Other

University

Hard

Created by

RMMC Scholarship

Used 1+ times

FREE Resource

10 questions

Show all answers

1.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Focuses on resource allocation differing from other discipline focuses on diverse goals

2.

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1 min • 1 pt

Who is the Father of Economics?

3.

FILL IN THE BLANK QUESTION

1 min • 1 pt

He described an entrepreneur in terms of the production and distribution of goods in a competition market.

4.

FILL IN THE BLANK QUESTION

1 min • 1 pt

True or False. In the neo classical theory equilibrium of demand and supply determines prices and economic growth.

5.

FILL IN THE BLANK QUESTION

1 min • 1 pt

He described an entrepreneur as a speculator who conducts all exchanges and bear risk as a result of buying a certain price and further selling them

6.

FILL IN THE BLANK QUESTION

1 min • 1 pt

True or False. Schumpeter's theory, emphasizing creative destruction, is not applicable to development economics, especially in contexts where the marginal propensity to save and productivity of labor are low, as it overlooks structural challenges

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

True or False. Individuals with the greatest foresight are most likely to make the best decisions in a market economy, and they are often categorized as "consumers," despite their role in shaping demand and influencing economic outcomes.

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