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CSS :: Nature and Scope of Economics


31.  Select the correct statement:
A. Economics affects politics B. Economics affects history
C. Geography affects economics D. All of the above are true

32.  Professor Marshall thinks:
A. Economics studies national welfare B. Economics studies personal welfare
C. Economics studies total welfare D. Economics studies material welfare

33.  "Everyone should study economics":
A. Is a positive statement B. Is a narmative statement
C. Is a true statement D. Is nonsense

34.  Utility and usefulness are:
A. Equal B. Different
C. Similar D. Unrelated

35.  Rotten eggs are:
A. Free good B. Economic good
C. Service D. Wealth

36.  Scarcity means that:
A. Non-availability of goods B. High price of goods
C. Nobody wants to consume it D. The good is available but it is not free

37.  The basic economic problem common to all societies is:
A. Scarcity cannot be totally eliminated B. What, how and for whom to produce
C. Equal distribution of wealth D. The achievement of full employment

38.  Human wants are:
A. One thousand B. Few
C. Innumerable D. Countable

39.  Scarcity means:
A. Non-availability of goods B. High price of goods
C. Less supply than demand D. High profit of the firms

40.  Validity of economic theories can never be proved with 100 percent certainty, because:
A. Ceteris paribus clause B. Limited number of observation is possible
C. Some observation will be made in furture which refute the theory D. (b) and (c)




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