QuizBee on Economics and Its Concepts

What is the origin of the word "economics"?

• Latin for money and trade

• French for currency and exchange

• Greek for household management

• Arabic for gold and market

What two Greek words does "economics" come from?

• Oikos and demos

• Oikos and nomos

• Nomos and logos

• Nomos and kratos

What does “oikos” mean in Greek?

• Law

• Trade

• Household

• Economy

What does “nomos” mean in Greek?

• Justice

• Management

• Policy

• Law

What was economics originally known as?

• Economic science

• Political economy

• Financial management

• Social studies

Who authored the Arthashastra?

• Adam Smith

• Chanakya

• Thomas Aquinas

• Alfred Marshall

When was the Arthashastra written?

• 450 BCE

• 350 BCE

• 1500 CE

• 1776

What kind of government does the Arthashastra focus on?

• Democratic

• Capitalist

• Socialist

• Dictatorial

Which of the following was not a concept in the Arthashastra?

• Welfare state

• Labor inequality

• Laissez-faire market

• Economic diversification

What did Chanakya believe the state’s wellbeing depends on?

• Balanced budgets

• Strong leadership

• The people’s wellbeing

• High taxation