|
Question |
Rating |
View Answer |
|
Under inductive method logic proceeds from:
a)General to particular
b)Positive to normative
c)Normative to positive
d)Particular to general |
|
View Answer |
|
The term "Mixed Economy" denotes:-
a) Private Sector. b) Co-existence of both Private and Public Sectors in the economy. c) Public Sector. d) None of the Above. |
|
View Answer |
|
Which of the following is not a feature of a capitalist economy?
a)Right to private property
b)Restrictions on consumers
Right to choose
c)Profit motive
d)Freedom of enterprise |
|
View Answer |
|
Production Possibility Curve is also known as:
a)Demand Curve
b)Transformation Curve
c)Supply Curve
d)Indifference Curve |
|
View Answer |
|
Who has defined economics as "Science which deals with Wealth"
a)Adam Smith b)Canon c)J.B. Say d) Ford |
|
View Answer |
|
Socialist economy is also known as:
a) Mixed economy
b) Planned economy
c) Capitalist economy
d) None of the above |
|
View Answer |
|
Positive science always explains a)What is? b)What ought to be? c)What is right or wrong? d)None of the above |
|
View Answer |
|
Where does price mechanism exists?
a)Capitalist economy
b)Socialist economy
c)Both type of economies
d)None of the above |
|
View Answer |
|
A system of economy in which all the means of production are owned and contributed by the private individuals for the purpose of profit, is called:
a)Socialist economy b)Capitalist economy c)Mixed economy d)All of the above |
|
View Answer |
|
Economics is neutral between ends. The statement is given by:
a)L. Robbins
b)Mrs. Joan
c)Alfred Marshall
d)A.C. Pigeon |
|
View Answer |
|
A free market economy's driving force is:
a)Profit motive
b)Welfare of the people
c)Rising income and levels of living
d)None of the above |
|
View Answer |
|
In inductive method, logic proceeds from:
a)General to particular
b)Particular to general
c)Both (a) and (b)
d)None of these |
|
View Answer |
|
Dual system of pricing exist in:
a)Free market economy
b)Socialistic economy
c)Mixed economy
d)None of the above |
|
View Answer |
|
Which of these is an example of macro economics? (a) overall conditions of economy. (b) total production. (c) economic behavior of large aggregates. (d) All of above. |
|
View Answer |
|
Who gave the positive aspect of science?
a)Alfred Marshall
b)A.C. Pigou
c)Adam Smith
d)Robbins |
|
View Answer |
|
Micro economics is concerned with:
a)Consumer behaviour
b)Product pricing
c)Factor pricing
d)All of the above |
|
View Answer |
|
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 |
|
View Answer |
|
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 |
|
View Answer |
|
What will be the shape of PPC curve when marginal opportunity cost is constant?
a)Concave
b)Convex
c)Backward bending
d)Straight line |
|
View Answer |
|
A developed economy uses_____ technique in production.
a)Labour intensive
b)Capital intensive
c)Home-based
d)Traditional |
|
View Answer |