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INTERVIEW QUESTIONS COMMON PROFICIENCY TEST (CPT) INTRODUCTION TO MICRO ECONOMICS DETAILS

Question: Who gave the positive aspect of science? a)Alfred Marshall b)A.C. Pigou c)Adam Smith d)Robbins

Answer: c)Adam Smith
Description:
A positive or pure science analysis cause and, effect relationship between variables but it does not pass value judgements. This positive aspect of science was emphasized by Adam Smith.

Category Introduction to Micro Economics Interview Questions & Answers - Exam Mode / Learning Mode
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Question: Who gave the positive aspect of science? a)Alfred Marshall b)A.C. Pigou c)Adam Smith d)Robbins

Answer:

c)Adam Smith
Description:
A positive or pure science analysis cause and, effect relationship between variables but it does not pass value judgements. This positive aspect of science was emphasized by Adam Smith. Source: CoolInterview.com



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Related Questions
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Micro economics is concerned with: a)Consumer behaviour b)Product pricing c)Factor pricing d)All of the above
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Which one in the following is not correct? a)There are limited wants b)Means are scarce c)Resources have alternative uses d)Economics is science
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Which one is the feature of Marshall's definition? a)Limited ends b)Scarce means c)Study of wealth as well as study of man d)Study of allocation of resources
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What will be the shape of PPC curve when marginal opportunity cost is constant? a)Concave b)Convex c)Backward bending d)Straight line
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A developed economy uses_____ technique in production. a)Labour intensive b)Capital intensive c)Home-based d)Traditional
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Micro economics is also known as_______: a)Public economics b)Price theory c)Income theory d)Demand theory
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Economic problem arises when:-

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Mixed economy means: a)All economic decisions are taken by central authority b)All economic decisions are taken by private entrepreneurs c)Economic decisions are partly taken by the state and partly by private entrepreneurs d)None of these
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What is cut-off frequency?
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Mixed economy means: a)Co-existence of small and large industries b)Promoting both agriculture and industries in the economy c)Co-existence of rich and poor d)Co-existence of public and private sectors
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If the opportunity cost is constant, then PPC would be: a)Convex b)Straight line c)Backward bending d)Concave
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Which of these would cause a rightward shift of the PPC curve? a)Improvement in technology b)Greater capital formation c)Increase in population d)All of these
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According Robbins, 'means' are: a)Scarce b)Unlimited c)Undefined d)All of these
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Under inductive method , the logic proceeds from: a)General to particulars b)Particular to general c)Both (a) and (b) d)None
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In a free market economy, when consumers increase their purchase of a item, the price increases due to

a)Demand,Supply
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c)Cartelisation
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How are depreciation keys defined?
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Under a free economy ,prices are: a)Regulated b)Determined through free interplay of demand and supply c)Partly Regulated d)None of these
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In which type of economy do consumers and producers make their choices based on the market forces of demand and supply? a)Open Economy b)Controlled Economy c)Command Economy d)Market Economy
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Latest 20 Questions
Payment of time- barred debt is: (a) Valid (b) Void (c) Illegal (d) Voidable
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Which of the following is not an exception to the rule, "No consideration, No contract": (a) Natural love and affection (b) Compensation for involuntary services (c) Completed gift (d) Agency
Consideration must move at the desire of: (a) The promisor (b) The promisee (c) The promisor or any other party (d) Both the promisor and the promisee
An offer which is open for acceptance over a period of time is: (a) Cross Offer (b) Counter Offer (c) Standing Offer (d) Implied Offer
Specific offer can be communicated to__________ (a) All the parties of contract (b) General public in universe (c) Specific person (d) None of the above
_________ amounts to rejection of the original offer. (a) Cross offer (b) Special offer (c) Standing offer (d) Counter offer
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