Principles Of Economics And Management (3140709) MCQs

MCQs of Introduction to Economics

Showing 1 to 10 out of 28 Questions
1 2 3
1.
Who gives a wealth definition of economics?
(a) Adam Smith
(b) Alfred Marshall
(c) Lionel Robbins
(d) Paul Samuelson
Answer:

Option (a)

2.
Who gives a welfare definition of economics?
(a) Adam Smith
(b) Alfred Marshall
(c) Lionel Robbins
(d) Paul Samuelson
Answer:

Option (b)

3.
Who is known as the father of economics?
(a) Alfred Marshall
(b) Manmohan Singh
(c) Adam Smith
(d) John Maynard Keynes
Answer:

Option (c)

4.
Economics is a____________.
(a) Science
(b) Arts
(c) Science and Arts both
(d) Commerce
Answer:

Option (c)

5.
Study of our personal economic activity is :
(a) Microeconomics
(b) Macroeconomics
(c) Mordeneconomics
(d) None of these
Answer:

Option (a)

6.
Which is not a determinant of demand?
(a) Price
(b) Test and Preference of consumers
(c) Demography
(d) The Strategy of the supplier
Answer:

Option (d)

7.
Which is not a determinant of supply?
(a) Numbers of suppliers
(b) Natural calamities
(c) Price
(d) Demography
Answer:

Option (d)

8.
At Equilibrium point ____________.
(a) Demand and Supply are equal
(b) Demand is more than Supply
(c) Supply is more than Demand
(d) Can not say anything
Answer:

Option (a)

9.
If the elasticity of a product is greater than 1 than it is called :
(a) Elastic
(b) Inelastic
(c) Unit elastic
(d) Greater elastic
Answer:

Option (a)

10.
Promotional elasticity of demand is higher when product is__________.
(a) Luxury
(b) Comfort
(c) Necessity
(d) Same for all
Answer:

Option (a)

Showing 1 to 10 out of 28 Questions
1 2 3