Top 100+ Indian Economy Multiple Choice Questions and Answers - 1

Question: 1

The author of scarcity definition is ___

(A) Alfred Marshall

(B) Lionel Robbins

(C) Samuelson

(D) Adam Smith

Question: 2

The concept of Net Economic welfare has been given by ____

(A) Adam Smith

(B) Alfred Marshall

(C) Samuelson

(D) Lionel Robbins

Question: 3

All the scare goods which satisfy our wants are known as ____

(A) Money

(B) Exchange

(C) Wealth

(D) Consumption

Question: 4

Economics is a __ science which deals with human wants and their satisfaction.

(A) Natural

(B) Social

(C) Political

(D) Physical

Question: 5

Price system plays a very important role in ___ economy.

(A) Traditional

(B) Mixed

(C) Socialist

(D) Capitalist