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CSS :: Nature and Scope of Economics


21.  Marshall in his definition of economics:
A. Uses the concept of material welfare B. Dislikes wealth
C. Accuses Adam Smith D. Praises Robbins

22.  "Wealth of Nations":
A. Is another name for United Nations B. Is a book
C. Indicates total wealth of rich countries D. Contains formulas to earn wealth

23.  Marshall wrote the book:
A. Introduction to economics B. Principles of economics
C. Classical economics D. Microeconomic theory

24.  Economic theory means:
A. Economic policy B. Principles of economics
C. Descriptive economics D. Economic facts

25.  Robbins in his definition:
A. Talks of scarcity of resources B. Preaches moral values
C. Advises neutrality in economics D. None of the above

26.  Market system means:
A. Socialism B. Capitalism
C. A place where goods are traded D. All of the above

27.  One or more persons living together and having a common budget is called:
A. A family B. Organisation
C. Household D. All commodities in a house

28.  "Wealth of Nations" was written in:
A. 1976 B. 1876
C. 1776 D. 1676

29.  Economic principles are also called:
A. Economic law B. Economic theory
C. Economic model D. All of the above

30.  "Wealth of nations" was written by:
A. Adam Smith B. Malthus
C. Marshall D. Newton




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