MCQs of Economics.

MCQs of Economics

MCQs of Economics

1. Economics is a science which studies the __________________

A.  production of wealth only
B. optimum use of scarce resources
C.distribution of income
D. exchange of wealth only

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B

2. A book entitled: An inquiry into the nature and causes of the wealth of nations” by Adam Smith wrote  in ________________

A. 1784
B. 1776
C. 1792
D. 1796

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B

3. _______________ was the exponent of welfare economics.

A. Adam Smith
B. Alfred Marshall
C. Lionel Robbins
D. J.M Keynes

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B

4. ________________said that “Economics is a science of human welfare”.

A. Adam Smith
B. Carlyle and Ruskin
C. Malthus
D. Alfred Marshall

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D

5. Which One of the following does not study of Microeconomics?

A. Equilibrium of firm
B. Market equilibrium
C. Banking system
D. distribution of rewards to FOP

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C

6. Robbins definition of economics is about the existence of _________________

A. Moral problem
B. Social problem
C. Political Problem
D. Economic problem

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D

7. Which one of the following is not studied in Microeconomics?

A. Public finance
B. National Income
C. Consumer behavior
D. International trade

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C

8. The products which are not priced in the market are called ____________________

A. Economic good
B. Social goods
C. Merit goods
C. Non economic goods

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D

9. Economic problem arises because of ____________________.

A. Unlimited wants
B. Alternative use of resources
C. Scarcity of resources
D. All of the above

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D

10. _____________ are implemented with an executive authority.

A. state laws
B. Moral laws
C. Economic laws
D. Physical law

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A

11. Economics should be taken as _____________, according to Alfred Marshall. 

A. Applied economics
B. Normative Economics
C. Welfare economics
D. positive economics

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C

12. Alfred Marshall wrote a book entitled “Principals of economics” in ____________________.

A. 1890
B. 1910
C. 1870
D. 1850

Answer - Click Here:
D