Nature & Scope on Economics Test 01 Mcqs Preparation Online

1. Ceteris paribus means:

A. Other things equal

B. All variables are independent

C. That no other assumptions are made

D. Enable economists to simplify reality

2. Economics is a science:

A. Spiritual

B. Moral

C. Dismal

D. Social

3. Father of political economy:

A. Samuelson

B. Adam Smith

C. Marshall

D. Malthus

4. Which statement relates to macroeconomics:

A. Oil prices are rising in Pakistan

B. The government has failed to control inflation

C. Profit rate is high in textile industry

D. The firms try to make huge profits

5. Economic problems arise because of:

A. Scarcity

B. Greed

C. Dishonesty

D. Laziness

6. Economic laws are:

A. Unreal

B. Natural

C. Moral

D. Scientific

7. Which statement is true ?

A. Economics is a social and natural science

B. Economics is a social and normative science

C. Economics is physical and positive science

D. Economics is a physical and normative science

8. He described economics as a science of material welfare:

A. Keynes

B. Marshall

C. Ricardo

D. Robbins

9. Economic laws are:

A. Brief

B. Definite

C. Exact

D. Approximate

10. In economics, assumptions:

A. Enable economists to simplify reality

B. Mean other things equal

C. Used in micro and not in macro economist

D. Make economic theory useless

Nature & Scope on Economics Test 01 Mcqs Preparation Online

Nature & Scope on Economics Test 01 Mcqs Preparation Online

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Nature & Scope on Economics Test 01 Mcqs Preparation Online

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