WorksheetsBA III ECONOMICS
Total questions: 25
Worksheet time: 15mins
What is the value of GDP Indian Economy?
$ 3 trillion
$ 2.9 trillion
$ 5 trillion
$ 1 trillion
Who is considered the Father of Economics?
Alfred Marshal
Adam Smith
David Ricardo
Schumpeter
Demand for a commodity refers to:
Desire for the commodity
Need for the commodity
Quantity demanded of that commodity
Amount of commodity demanded at a particular price and at particular time.
Which of the following are branches of Economics?
Micro Economics
Econometrics
Growth and Development
Ecology
The cost of one thing in terms of the alternative given up is called___________.
Social Cost
Production Cost
Opportunity Cost
Accounting Cost
What will be the value of Multiplier if MPC is 0.9.
(a)
What is National Income?
GDP at FC
NNP at FC
GNP at FC
NNP at MP
Who is the first indian to win Nobel prize in Economics?
Amiya Bagchi
Subramaiam Venkatraman
Rabindra Nath Tagore
Amartya Sen
Which of the following can be negative?
Consumption
Production
Saving
Average Cost
Who is the Present Governor of RBI ?
Shaktikanta Das
Raghuram rajan
Urjit Patel
Bimal Jalan
What do economists mean by the term "scarcity"?
Having too few or too little of resources
Having too many resources
Having just enough resources
Having the correct amount of resources
Which choice best describes the economic problem of scarcity in the world?
People have limited wants there is an unlimited amount of resources.
People have unlimited wants but there is a limited amount of resources
People have no wants so resources don't matter
These are resources people use to make goods and services.
Productive Resources
Economic Resources
Financial Resources
Basic Resources
These productive resources are goods made to produce for goods and provide more services.
Natural Resources
Human Resources
Capital Resources
Which type of economy allows the government to determine what to produce, how to produce it, and who gets it?
Command Economy
Market Economy
Traditional Economy
Which type of economy allows people to freely decide what to produce and how to produce it and people get or buy what they can afford?
Command Economy
Market Economy
Traditional Economy
the action of fulfilling a need for income
services
need
want
consumer
A person who provides a good or service
producer
need
want
consumer
A person who purchases a good or service
consumer
taxes
supply
good
Basic things humans need to survive
need
want
import
demand
Extras that make life more enjoyable
want
need
producer
savings
