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
[su_spoiler title=”Answer – Click Here:” class=”padding: -10px;”]B[/su_spoiler]
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
[su_spoiler title=”Answer – Click Here:” class=”padding: -10px;”]B[/su_spoiler]
3. _______________ was the exponent of welfare economics.
A. Adam Smith
B. Alfred Marshall
C. Lionel Robbins
D. J.M Keynes
[su_spoiler title=”Answer – Click Here:” class=”padding: -10px;”]B[/su_spoiler]
4. ________________said that “Economics is a science of human welfare”.
A. Adam Smith
B. Carlyle and Ruskin
C. Malthus
D. Alfred Marshall
[su_spoiler title=”Answer – Click Here:” class=”padding: -10px;”]D[/su_spoiler]
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
[su_spoiler title=”Answer – Click Here:” class=”padding: -10px;”]C[/su_spoiler]
6. Robbins definition of economics is about the existence of _________________
A. Moral problem
B. Social problem
C. Political Problem
D. Economic problem
[su_spoiler title=”Answer – Click Here:” class=”padding: -10px;”]D[/su_spoiler]
7. Which one of the following is not studied in Microeconomics?
A. Public finance
B. National Income
C. Consumer behavior
D. International trade
[su_spoiler title=”Answer – Click Here:” class=”padding: -10px;”]C[/su_spoiler]
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
[su_spoiler title=”Answer – Click Here:” class=”padding: -10px;”]D[/su_spoiler]
9. Economic problem arises because of ____________________.
A. Unlimited wants
B. Alternative use of resources
C. Scarcity of resources
D. All of the above
[su_spoiler title=”Answer – Click Here:” class=”padding: -10px;”]D[/su_spoiler]
10. _____________ are implemented with an executive authority.
A. state laws
B. Moral laws
C. Economic laws
D. Physical law
[su_spoiler title=”Answer – Click Here:” class=”padding: -10px;”]A[/su_spoiler]
11. Economics should be taken as _____________, according to Alfred Marshall.
A. Applied economics
B. Normative Economics
C. Welfare economics
D. positive economics
[su_spoiler title=”Answer – Click Here:” class=”padding: -10px;”]C[/su_spoiler]
12. Alfred Marshall wrote a book entitled “Principals of economics” in ____________________.
A. 1890
B. 1910
C. 1870
D. 1850
[su_spoiler title=”Answer – Click Here:” class=”padding: -10px;”]D[/su_spoiler]