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MCQ’s Chapter 1: Nature and Scope of Economics

1) Word of Economics has been derived from “Oikonomia” which is a word of the language?

A) Italian                   B) Greek                           C) Latin                  D) French

2) Who was the founder of Economics?

A) Adam Smith         B) Alfred Marshall        C) Keynes                    D) Ricardo

3) Adam Smith belonged to?

A) England                B) Scotland                      C) USA                        D) Ireland

4) Who was the founder of classical School of thought?

A) Alfred Marshall   B) Adam Smith               C) Keynes                    D) J.S. Mill

5) which economist is not included in the classical School of thought?

A) Adam Smith           B) Malthas                      C) Keynes                   D) J.S. Mill

6) Who said that Economics is a science of wealth?

A) Adam Smith           B) Alfred Marshall        C) Pigou                      D) (Record)

7) When was the book ” an inquiry into the nature and causes of the wealth of nations”?

A) 1770                          B) 1776                            C) 1890                        D) 1895

8) who did name economics as the science of mammon worship and dismal science?

A) Alfred Marshall      B) Pigou                         C) Robinson                 D) Ruskin and Carlyle

9) Who was the founder of the Neo-Classical School of thought?

A) Adam Smith            B) Alfred Marshall       C) Keynes                    D) Ricardo

10) The book “Principles of Economics” was written in

A) 1990                           B) 1786                          C) 1890                        D) 1895

11) According to Marshall/ Neo-Classical School of thought, Economics is related to

A) Unlimited wants      B) Wealth                     C) Material welfare    D) Human Behavior

12) Economics is a science of?

A) Political                      B) Social                        C) Spiritual                  D) Ethical

13) Who did say that Economics is the science of “material welfare”?

A) Adam Smith              B) Alfred Marshall       C) Keynes                    D) Ricardo

14) Economics is concerned with the attainment of material requisites.

A) Adam Smith              B) Alfred Marshall        C) Keynes                   D) Robinson

15) A book called “the nature and importance of Economics science” was written?

A) 1955                             B) 1932                            C) 1890                      D) 1776

16) Who was the founder of the modern School of thought?

A) Adam Smith               B) Alfred Marshall        C) Robbins               D) Robinson

17) According to Robbins, the basic concept of economics is

A) Political Problem      B) Economic Problem   C) Religious Problem   D) Psychological Problem

18) Who did give economics the status of science?

A) Adam Smith               B) Alfred Marshall         C) Robbins               D) Robinson

19) who said that economics is a neutral science

A) Adam Smith               B) Alfred Marshall         C) Robbins                D) Robinson

20) The goods which are directly consumed by human beings are called

A) Consumer Goods       B) Capital Goods            C) Industrial Goods     D) Private Goods

21) Laws cannot be predicted?

A) Economic laws           B) Scientific laws        C) Ethical laws            D) Natural laws

22) Writing of the same behaviour of the people in particular arrangement and words is called?

A) Economic laws           B) Scientific laws        C) Ethical laws            D) Natural laws

23) In which punishment is not applicable for the disobedience, the laws are?

A) Economic laws           B) Scientific laws        C) Ethical laws            D) Laws of State

24) Economic laws are?

A) Definite        B) Of Conditional nature         C) of Moral nature         D) Of Political Nature

25) The conditions which are essentially kept constant for the application of economic laws are called:

A) Assumptions               B) Variations                       C) Theories                 D) Limitations

26) When after the observation and analysis of the conditions, they are status as they are called.

A) Normative Science    B) Positive Science     C) Science of Prediction    D) Science of Vegetation

27) Study of small units of an economic system is called?

A) Micro Economics     B) Macro Economics   C) Monetary Economics     D) Industrial Economics

28) Study of large aggregates of economic system is called?

A ) Micro Economics    B) Macro Economics    C) Monetary Economics     D) Industrial Economics

29) Is not a part of Macro Economics?

A) Public Finance       B) International Trade   C) Consumer Behavior     D) National Income

30) The second name of Microeconomics is?

A) Price Theory           B) Macro Economics       C) Welfare Economics      D) Applied Economics

31) The problem of Unemployment comes under discussion?

A ) Micro Economics B) Macro Economics       C) Monetary Economics    D) Industrial Economics

32) The non-material activities which have the ability to satisfy human want indirectly are called

A) Goods                      B) Satisfaction                   C) Services                      D) None of these

33) Who did write the book name “General Theory of Employment Interest and Money?

A) Adam Smith          B) Alfred Marshall             C) Keynes                        D) Ricardo

 

November 27, 2018

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