WorksheetsRevisiting Economics as a Social Science
Total questions: 15
Worksheet time: 8mins
Economics is a social science because it deals with:
Human Nature
Natural resources
Experimentation
Plants and Animals
Economics is important so that we may be able to:
Understand problems facing the citizens and family
Help the government promote growth and improve quality of life
Analyze fascinating patterns of social behavior.
All of the above
A study of economics can describe all aspects of a:
Country's economy
Production function
Consumption of individuals
Market
Economics is a science because:
It can predict the future
It conducts experiment in a laboratory
It measures the quantity of output
It undergoes observation and experimentation
As a social science, economics can be more:
Predictable
Unpredictable
Changeable
All the above
Economics is derived from the Greek word "oikonomia" meaning:
Economic management
Household management
Social Management
Political Management
Scarcity of resources means:
Minimum resources
Shortage of resources
Slight resources
Excess resources
Unlimited wants mean:
Infinite
Limited
Partial
Fractional
These are examples of human wants except:
Smartphone
Clothing
Perfume
Watch
Allocation of resources means:
Apportionment of resources
Stocking of resources
Keeping of resources
Protection of resources
It is also termed as human resource:
land
labor
capital
entrepreneur
It refers to the allocation of products among the factors of production
Production
Consumption
Distribution
Exchange
Macroeconomics deals with the following except:
Gross National Product
Employment
National Income
Price of rice
Economics is important so that we may be able to:
Understand problems facing the citizens and family
Help the government promote growth and improve quality of life
Analyze fascinating patterns of social behavior
All the above
The simplest application of mathematics for economic analysis is found in this field because it explains the relationships:
Physics
Chemistry
Geometry
Sociology
