ECONOMICS QUESTION AND ANSWER PART1

1. The word 'Economics'derived from: a)A Greek word b)A Spanish Word c)A English Word d)A French Word
2. Who said "Economic is the science of wealth": a)Lionel Robbins b)Jacob Vines c)Adam Smith d)Alfred Marshall
3. Among the following which are Macro Economics: i)National Income ii)Unemployment iii)Fiscal System iv)Inflation              a)i and ii b)i, ii , iii c)i d)all of the above
4. ' The General Theory of Employment Interest & Money' written by: a)Adam Smith b)J. M Keynes c)Alfred Marshall d)none of these
5. Who is called 'Father of Modern Economics': a)J. M Keynes b)Adam Smith c)Alfred Marshall d)Jacob Vines
6. America is a: a)Capitalist Economy b)Socialist Economy c)Mixed Economy d)Planned Economy
7. India is a: a)Planned Economy b)Capitalist Economy c)Mixed Economy d)Socialist Economy
8. 'Price Mechanism' is feature of_______Economy: a)Laissez-faire Economy b)Capitalist Economy c)Socialist Economy d)none of these
9. Both Public and Private Sectors co-existence is called: a)Capitalist Economy b)Mixed Economy c)Socialist Economy d)none of these
10. 'An Inquiry into the nature and causes of the wealth of nations' the book written by: a)J. M Keynes b)Alfred Marshall c)Adam Smith d)Lionel Robbins
11. 'Economics is the science of scarcity' stated which economics: a)Lionel Robbins b)Alfred Marshall c)Adam Smith d)Jacob Vines
12. 'Economics is what economics do' according to which economist: a)Jacob Vines b)Lionel Robbins c)Alfred Marshal d)Lionel Robbins
13. who is called 'Father of Economics': a)Alfred Marshal b)Adam Smith c)J. M Keynes d)Lionel Robbins
14. 'The Principles theory of Economics' written by: a)Alfred Marshal b)Adam Smith c)Amartya Sen d)J. M Keynes
15. 'Poverty & Feminine' written by: a)J. M Keynes b)M. Viswerryaya c)Amartya Sen d)Adam Smith
16. Which is not a problem of every Economics: a)What to produced b)For whom to produce c)how to produced d)none of these
17. china is a: a)Capitalist Economy b)Socialist Economy c)Un-controlled economy d)none of these
18. Pakistan is a: a)Capitalist Economy b)Socialist Economy c)Mixed Economy d)Planned Economy
19. 'Poverty and Unbritish rule in India' written by: a)Amartya Sen b)Jawaharlal Nehru c)Dadabhai Naoraji d)Adam Smith
20. The part of economics which deals with the function of the economy as a whole is known as: a)Micro Economy b)Macro Economy c)Capitalist Economy d)Socialist Economy

ANSWER:
1. a), 2. c), 3. d), 4. b), 5. a), 6. a), 7. c), 8. b), 9. b), 10. c), 11. a), 12. a), 13. b), 14. a), 15. c), 16. d), 17. a), 18. c), 19. c), 20 b)