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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