WorksheetsChapter: 1 Introduction to Micro-Economics (1 to 10)
Total questions: 10
Worksheet time: 5mins
The science of economics was born with the publication of Adam Smith’s an Inquiry into the Nature and Causes of Wealth of Nations in the year
1775
1776
1777
1778
Economics as science of _______.
Wants
Needs
Scarcity
Faith
Microeconomics is is also known as
Demand Theory
Supply Theory
Price Theory
Cost Theory
Macroeconomics is also known as
Theory of Income and Employment
Demand Theory
Supply theory
Cost Theory
Microeconomics is that part of economic theory which studies the behaviour of ________ units of an economy.
Combined
Individual
Both
None
India is an overpopulated country.
Positive Economics
Normative Economcs
Both
None
Free education should be given to the poor.
Positive Economics
Normative Economisc
Both
None
Economic problem is the problem of _________.
Need
Want
Choice
None
It helps in efficient employment of resources.
Macro Economics
Micro Economics
Both
None
It gives an overall view of the growing complexities of an economic system. It provides powerful tools to explain the working of the complex economic systems.
Macro
Micro
Both
None
