CSS :: Nature and Scope of Economics

1.  Father of political economy:
A. Adam Smith B. Malthus
C. Marshall D. Samuelson

2.  He described economics as a science of material welfare:
A. Robbins B. Marshall
C. Ricardo D. Keynes

3.  Economic laws are:
A. Exact B. Approximate
C. Brief D. Definite

4.  Economic laws are:
A. Scientific B. Moral
C. Natural D. Unreal

5.  Economics is a science:
A. Spiritual B. Social
C. Dismal D. Moral

6.  Economic problems arise because of:
A. Greed B. Scarcity
C. Dishonesty D. Laziness

7.  Which statement relates to macroeconomics:
A. Oil prices are rising in Pakistan B. Profit rate is high in textile industry
C. The firms try to make huge profits D. The government has failed to control inflation

8.  Which statement is true?
A. Economics is a physical and normative science B. Economics is a social and natural science
C. Economics is physical and positive science D. Economics is a social and normative science

9.  Ceteris paribus means:
A. Other things equal B. All variables are independent
C. Enable economists to simplify reality D. That no other assumptions are made

10.  In economics, assumptions:
A. Make economic theory useless B. Mean other things equal
C. Enable economists to simplify reality D. Used in micro and not in macroeconomist

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