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WorksheetsEconomics
Total questions: 8
Worksheet time: 9mins
Name
Class
Date
1.
Welfare Definition of economics is given by
a)
Adam Smith
b)
J M Keynes
c)
Alfred Marshall
d)
A C Pigou
2.
Identify this former RBI Governor.
a)
D Subbarao
b)
Raghuram Rajan
c)
Urjit Patel
d)
Shaktikanta Das
3.
The individual firm's demand curve under perfectly competitive market is
a)
U shaped
b)
Inverse S shaped
c)
Horizontal straight line
d)
Vertical straight line
4.
In this type of economy, the people decide the supply, demand, and price.
a)
Market
b)
Traditional
c)
Command
d)
Mixed
5.
When the quantity supplied is greater than the quantity demanded
a)
a shortage has occurred.
b)
a surplus has occurred.
c)
it doesn't mean anything.
d)
government intervenes.
6.
Trying to satisfy unlimited wants with limited resources defines _____ and is the fundamental problem of economics.
a)
scarcity
b)
needs
c)
wants
d)
microeconomics
7.
who was the writer for Wealth of Nations
a)
Plato
b)
Karl Marx
c)
Paul Samuelson
d)
Adam Smith
8.
At what price market will be in equilibrium?
a)
b)
c)
d)
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