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WorksheetsDefinitions of Economics
Total questions: 17
Worksheet time: 9mins
Adam Smith's definition of economics is
Growth oriented
Scarcity oriented
Wealth oriented
Welfare oriented
Which Economist has given this definition of economics?
"Economics is a science which studies human behaviour as a relationship between ends and scarce means which have alternative uses"
Prof. Lionel Robbins
Paul Samuelson
Adam Smith
J.M. Keynes
Identify the Economist. His definition of economics is based on
Lionel Robbins, Scarcity
Paul Samuelson, Scarcity
Adam Smith, Wealth
Paul Samuelson, Growth
Which definition states that giving solution to economic problems is as a part of economics?
Scarcity Oriented
Welfare Oriented
Growth Oriented
Wealth Oriented
This definition of economics is given by which economist?
"Economics is a study of administration of a scarce means and the determinants of employment and income."
J.M. Keynes
Alfred Marshal
Paul Samuelson
Adam Smith
Who is the author of this book? What does his definition of economics focus on?
Adam Smith, Wealth
Lionel Robbins, Growth
Lionel Robbins, Scarcity
Paul Samuelson, Scarcity
A branch that studies of a group of entire economy or aggregates is
Macroeconomics
Microeconomics
In Microeconomics 'I' stands for (a)
Microeconomics is also called as
Individual theory
Wealth theory
Price theory
General price level is an example of ___________________
Microeconomics
Macroeconomics
Playing games, dancing, donations to temples are economic activities.
True
False
Types of economic activities are______________, _______________, ______________________ & ________________.
land, labour, capital, enterprise
producers, households, consumers, government
production, consumption, distribution, exchange
wealth, welfare, scarcity, growth
Mr. A organising a birthday party for his son is a ________________ activity, whereas Mr. A organising a birthday party for a client is an _________________ activity.
non-economic, economic
economic, non-economic
All the activities concerned with _____________ and _____________ are economic activities.
wealth and growth
scarce means and unlimited wants
welfare and scarcity
money and wealth
The terms 'microeconomics' and 'macroeconomics' were coined by ___________________
Prof. Ragnar Frisch
Prof. Paul Samuleson
Prof. Alfred Marshall
Prof. Lionel Robbins
This economist believes that economics is the study of the economy as a whole.
Paul Samuelson
J.M. Keynes
Lionel Robbins
Adam Smith
This economist believes that economics is the not only the study analysing the economic problems but also suggesting ways to attain higher standard of living.
Paul Samuelson
J.M. Keynes
Lionel Robbins
Adam Smith
