CSS :: Nature and Scope of Economics
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31. |
Select the correct statement: |
A. |
Economics affects politics |
B. |
Economics affects history |
C. |
Geography affects economics |
D. |
All of the above are true |
Answer: Option D
Explanation:
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32. |
Professor Marshall thinks: |
A. |
Economics studies national welfare |
B. |
Economics studies personal welfare |
C. |
Economics studies total welfare |
D. |
Economics studies material welfare |
Answer: Option D
Explanation:
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33. |
"Everyone should study economics": |
A. |
Is a positive statement |
B. |
Is a narmative statement |
C. |
Is a true statement |
D. |
Is nonsense |
Answer: Option B
Explanation:
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34. |
Utility and usefulness are: |
A. |
Equal |
B. |
Different |
C. |
Similar |
D. |
Unrelated |
Answer: Option B
Explanation:
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35. |
Rotten eggs are: |
A. |
Free good |
B. |
Economic good |
C. |
Service |
D. |
Wealth |
Answer: Option A
Explanation:
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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 |
Answer: Option D
Explanation:
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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 |
Answer: Option A
Explanation:
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38. |
Human wants are: |
A. |
One thousand |
B. |
Few |
C. |
Innumerable |
D. |
Countable |
Answer: Option C
Explanation:
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39. |
Scarcity means: |
A. |
Non-availability of goods |
B. |
High price of goods |
C. |
Less supply than demand |
D. |
High profit of the firms |
Answer: Option C
Explanation:
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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) |
Answer: Option A
Explanation:
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