Economics Nature & Scope on Economics Test 04 Mcqs Preparation Online Nature & Scope on Economics Test 04 Mcqs Preparation Online 1. Utility and usefulness are:A. Similar B. EqualC. UnrelatedD. Different Loading... 2. Professor Marshall thinks:A. Economics studies total welfareB. Economics studies material welfareC. Economics studies national welfare D. Economics studies personal welfare Loading... 3. The basic economic problem common to all societies is:A. What, how and for whom to produceB. The achievement of full employmentC. Equal distribution of wealth D. Scarcity cannot be totally eliminated Loading... 4. "Everyone should study economics":A. Is a normative statementB. Is nonsenseC. Is a positive statement D. Is a true statement Loading... 5. Scarcity means:A. High price of goodsB. Less supply than demandC. Non-availability of goodsD. High profit of the firms Loading... 6. Validity of economic theories can never be proved with 100 percent certainty, because:A. Limited number of observation is possibleB. (b) and (c)C. Some observation will be made in future which refute the theory D. Ceteris paribus clause Loading... 7. Rotten eggs are:A. Economic goodB. WealthC. Free good D. Service Loading... 8. Human wants are:A. FewB. One thousandC. Innumerable D. Countable Loading... 9. Select the correct statement:A. Economics affects historyB. Economics affects politics C. Geography affects economicsD. All of the above are true Loading... 10. Scarcity means that:A. The good is available but it is not freeB. Non-availability of goods C. Nobody wants to consume itD. High price of goods Loading... Loading... Related PostsNature & Scope on Economics Test 01 Mcqs Preparation OnlineNature & Scope on Economics Test 02 Mcqs Preparation OnlineNature & Scope on Economics Test 03 Mcqs Preparation OnlineZoology Scope and Origin of Life MCQs Test 07 Preparation…Zoology Scope and Origin of Life MCQs Test 01 Preparation…Zoology Scope and Origin of Life MCQs Test 06 Preparation… Continue Reading Previous Nature & Scope on Economics Test 03 Mcqs Preparation OnlineNext Money and Value of Money Test 05 Mcqs Preparation Online Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Δ