Economics MCQ Quiz Hub

Economics Nature and Scope of Economics

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1. Father of political economy:




2. He described economics as a science of material welfare:




3. Economic laws are:




4. Economics is a science:




5. Economic problems arise because of:




6. Which statement relates to macroeconomics:




7. Which statement is true?




8. Ceteris paribus means:




9. In economics assumptions:




10. Normative economics:




11. Basic economic problem is:




12. Microeconomics concentrates:




13. Microeconomics concentrates:




14. Macroeconomic deals with:




15. Three basic economic problems:




16. Economics:




17. Economic law:




18. Adam Smith was a:




19. Marshall in his definition of economics:




20. Wealth of Nations:




21. Marshall wrote the book:




22. Economic theory means:




23. Robbins in his definition:




24. Market system means:




25. One or more persons living together and having a common budget is called:




26. Wealth of Nations was written in:




27. Economic principles are also called:




28. Wealth of nations was written by:




29. Professor Marshall thinks:




30. Select the correct statement:




31. Everyone should study economics:




32. Utility and usefulness are:




33. Rotten eggs are:




34. Scarcity means that:




35. The basic economic problem common to all societies is:




36. Human wants are:




37. Scarcity means:




38. Validity of economic theories can never be proved with 100 percent certainty because: