Which Economist divided Economics in two branches of micro and macro on the basis of economic activity?
  • Marshall
  • Ricardo
  • Ragnar Frish
  • None of these
Which of the following is studied under Micro Economics ?
  • Individual unit
  • Economic Aggregate
  • National Income
  • None of these
Which of the following economic activities are included in the subject-matter of Economics?
  • Economic Activities related to Unlimited Wants
  • Economic Activities related to Limited Resources
  • Both (a) and (b)
  • None of these
On which base structure of economic problems has been installed?
  • Unlimited Wants
  • Limited Resources
  • Both (a) and (b)
  • None of the above
‘Micros’, which means ‘Small’ belongs to:
  • Arabian word
  • Greek word
  • German word
  • English word
Which of the following statement is true?
  • Human wants are infinite
  • Resources are limited
  • Scarcity problem gives birth to choice .
  • All of these
Which of the following is the salient feature of factors (or resources) ?
  • These are limited as compared to wants
  • These have alternative uses
  • Both (a) and (b)
  • None of the above
Which is a central problem of an economy ?
  • Allocation of Resources
  • Optimum Utilisation of Resources
  • Economic Development
  • All of these
Which of the following Is a type of economic activities ?
  • Production
  • Consumption
  • Exchange and Investment
  • All of these
To which factor, economic problem is basically related to:
  • Choice
  • Consumer’s Selection
  • Firm Selection
  • None of these
Economy may be classified as:
  • Capitalist
  • Socialist
  • Mixed
  • All of these
Which economy has a co-existence of private and public sectors ?
  • Capitalist
  • Socialist
  • Mixed
  • None of these
The main objective of a socialist economy is…….
  • Maximum production
  • Economic freedom
  • Earning profit
  • Maximum public welfare
In which economy decisions are taken on the basis of price mechanism ?
  • Socialist
  • Capitalist
  • Mixed
  • All of these
The slope of a production possibility curve falls:
  • From left to right
  • From right to left
  • From top to bottom
  • From bottom to top
Production Possibility Curve is:
  • Concave to the axis
  • Convex to the axis
  • Parallel to the axis
  • Vertical to the axis
Mention the name of the curve which shows economic problem:
  • Production Curve
  • Demand Curve
  • Indifference Curve
  • Production Possibility Curve
Which of the following is studied under Macro Economics ?
  • National Income
  • Full. Employment
  • Total Production
  • All of these
Which of the following Is a branch of Micro Economics ?
  • Product Price Determination
  • Factor Price Determination
  • Economic Welfare
  • All of these
Which of the following is a source of production ?
  • Land
  • Labour
  • Capital
  • All of these
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