Inductive Method is also called as

(a)

Empirical Method

(b)

Analytical Method

(c)

Abstract Method

(d)

All of these

A____________science is prescriptive in nature.

(a)

positive

(b)

normative

(c)

both (a) and (b)

(d)

neither (a) nor (b)

The concept of consumer's surplus is associated with

(a)

Adam Smith

(b)

Marshall

(c)

Robbins

(d)

Ricardo

Utility can be measured and quantified under_____________.

(a)

cardinal approach only

(b)

ordinal approach only

(c)

both (a) and (b)

(d)

none of these

___________ increases the cost of production of a commodity or service.

(a)

Diseconomies of scale

(b)

Economies of scale

(c)

The scale of production

(d)

Production function

On the basis of time, the market can be classified as __________ market.

(a)

short period

(b)

long period

(c)

very long period

(d)

all of these

The distribution of income or wealth of a country among the individuals are

(a)

Functional distribution

(b)

Personal distribution

(c)

Goods distribution

(d)

Services distribution

How do you term people employed in excess of the requirements?

(a)

Unemployment

(b)

Underemployment or Disguised Unemployment

(c)

Full employment

(d)

Self-employment

Most of the villagers are indebtedness to _____________ agencies.

(a)

Private

(b)

Money lenders

(c)

Both (a) and (b)

(d)

None of these

Differentiation of constant term gives

(a)

one

(b)

zero

(c)

infinity

(d)

non-infinity