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Introduction to Economics

Total questions: 10

Worksheet time: 6mins

Name
Class
Date
1.

Micro Economics word is derived from Greek word "Mikros"

a)

True

b)

False

2.

What do you mean by the supply of goods?

a)

Stock available for sale

b)

Total stock in the warehouse

c)

The actual production of the good

d)

Quantity of the good offered for sale at a particular price per unit of time

3.

Which statement does not relate to the role of Economist?

a)

Attempting explain the causes of economic phenomena

b)

Forecasting the effects of change in government policy

c)

Measuring the changes in general Price level

d)

Identifying ways to make society fair

4.

Adam Smith is a (a)   Economics.

5.

Welfare definition given by......?

a)

Adam Smith

b)

Alfred Marshall

c)

Lionel Robbins

6.

According to you which dimension of Economics has more Practicality?

a)

Wealth approach

b)

Welfare approach

c)

Scarcity approach

7.

Interpret the Economic System

a)

Socialistic Economy

b)

Mixed Economy

c)

Capitalistic Economy

8.

Find the Economic Problem

a)

Lack of Infrastructure

b)

Low Growth

c)

Low agricultural Productivity

9.

Guess the Economic Issue

a)

Low Economic Growth

b)

Lack of Infrastructure

c)

Lack of financial facility

10.

Recent policy changes which initiated by Indian Government......

a)

New Education Policy

b)

Farmers Bill

c)

New Economic Policy

d)

Demonetization