'Economics is a study of mankind in the ordinary business of life' - It is the statement of

(a)

Adam Smith

(b)

Lionel Robbins

(c)

Alfred Marshall

(d)

Samuelson

Find the odd one out:

(a)

"An inquiry into the Nature and the Causes of the Wealth of Nations"

(b)

"Principles of Economics"

(c)

"Nature and Significance of Economic science"

(d)

"Ceteris Paribus"

"Economics studies human behaviour as a relationship between ends and scarce means which have alternative uses" is the definition of economics of

(a)

Lionel Robbins

(b)

Adam Smith

(c)

Alfred Marshall

(d)

Paul A Samuelson

"Economics is a science" The basis of this statement is ______

(a)

Relation between cause and effect

(b)

Use of deductive method and inductive method for the formations of laws

(c)

Experiments

(d)

All of the above

Which theory is generally included under micro economics?

(a)

Price Theory

(b)

Income Theory

(c)

Employment Theory

(d)

Trade Theory

The process of reasoning from particular to general is

(a)

Deductive method

(b)

Inductive method

(c)

Positive economics

(d)

Normative economics

What is meant by Economics?

What are goods?

Distinguish goods from services.

Define Positive economics.

What is market?

Define - Cost.

What are Free goods?

What are the important features of Marshall's Welfare definition?

Explain the different types of goods?

Mention any five importance of Micro Economics?

Explain the types of utility.

Explain the nature' of economic laws.

Explain various Steps of Deductive and Inductive methods.

Explain basic problems of the economy with the help of production possibility curve.

State the various kinds of Goods.