_______utility derived by having knowledge of a particular thing

(a)

Place

(b)

Time

(c)

Knowledge

(d)

Service

Deductive method is also called as

(a)

Analytical method

(b)

Abstract method

(c)

Both 'a' and 'b'

(d)

None of these

Micro means

(a)

Small

(b)

Big

(c)

Large

(d)

Aggregate

The scope of __________ covers public expenditure, public revenue, public debt and financial administration.

(a)

Federal finance

(b)

Public finance

(c)

Government

(d)

None of these

The term micro means,______________ .

(a)

Small

(b)

Large

(c)

Both

(d)

None

In economics is a

(a)

Deductive method

(b)

Inductive method

(c)

Both

(d)

None

The Term means "Management of households".

(a)

Commerce

(b)

Business

(c)

Economics

(d)

All the above

The concept Division of Labour was introduced by

(a)

Marshall

(b)

Lionell Robbins

(c)

J.S. Mill

(d)

Adam smith

_______ promotes welfare and not wealth.

(a)

Man

(b)

Goods

(c)

Service

(d)

Money

Ends refer to human __________.

(a)

Behaviour

(b)

Wants

(c)

Resources

(d)

Welfare

Economics according to Robbins is ________.

(a)

Science of choice

(b)

Resource

(c)

Social Science

(d)

All the above

A good consumed by a single person.

(a)

Free Goods

(b)

Public good

(c)

Private good

(d)

None

The subject Economics, earlier known as Political Economy, was renamed as Economics in the late 19th century by__________________.

(a)

Adam Smith

(b)

Alfred Marshall

(c)

Lionel Robbins

(d)

Paul Samuelson

The value of the good expressed in terms of money is called________________.

(a)

Cost

(b)

Price

(c)

Income

(d)

Revenue

"Equilibrium is a position from which there is no net tendency to move," says_____________.

(a)

Prof. Stigler

(b)

J.M. Keynes

(c)

Milten Friedman

(d)

Malthus

Demand theory, supply theory etc have been derived based on_______________.

(a)

inductive method

(b)

deductive method

(c)

both (a) and (b)

(d)

neither (a) nor (b)

Points outside the PPC are

(a)

attainable with existing technology

(b)

not attainable with the existing resources and technology

(c)

inefficient

(d)

suggest that the country's factors are under employed

Equi - Marginal Utility means equal marginal utilities derived from the consumption of more than_____

(a)

four goods

(b)

three goods

(c)

two goods

(d)

one good

The Indifference curve analysis was presented by _____

(a)

Alfred Marshall

(b)

J.R. Hicks

(c)

A.C. Pigon

(d)

J.K. Easthan

There are __ kinds of price elasticity of demand.

(a)

Two

(b)

Three

(c)

Four

(d)

Five

Human wants have the capacity to get satisfied only ____

(a)

Temporarily

(b)

Wants

(c)

Comforts

(d)

None of these

The point of intersection of demand and supply curves is known as_____

(a)

Equilibrium

(b)

Disequilibrium

(c)

Partially equilibrium

(d)

General equilibrium

A most refined form of the concept of consumer's surplus was given by

(a)

Alfred Marshall

(b)

Samuelson

(c)

Ricardo

(d)

Adamsmith

Indifference curves are _____________

(a)

cancave to the origin

(b)

convex to the origin

(c)

parallel to the origin

(d)

intersect at the origin

Utility can be measured and quantified under_____________.

(a)

cardinal approach only

(b)

ordinal approach only

(c)

both (a) and (b)

(d)

none of these