Top 100+ Indian Economy Online Test Questions and Answers 2020-2021 - 1

Question: 1

____ is considered as the Father of socialism.

(A) Alfred Marshall

(B) Adam Smith

(C) Keynes

(D) Karl Marx

Ans: D

Karl Marx

Question: 2

___ is the connecting link between production and consumption.

(A) Distribution

(B) Exchange

(C) Production

(D) Consumption

Ans: B

Exchange

Question: 3

_____ defined economics as, “a study of mankind in the ordinary business of life”.

(A) Adam Smith

(B) Alfred Marshall

(C) Samuelson

(D) Lionel Robbins

Ans: B

Alfred Marshall

Question: 4

Traditional economy is a ___

(A) Monetary economy

(B) Command economy

(C) Subsistence economy

(D) Market economy

Ans: C

Subsistence economy

Question: 5

Human development is more in ___ countries.

(A) Traditional

(B) Capitalistic

(C) Mixed economic

(D) Socialist

Ans: D

Socialist

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