Introduction to Economics

Q1. Which branches of economics examines the behaviour of Individual actors such as consumers, businessman, households in the face of scarcity
and what effects they have?
a) Macro economics
b) Micro economics
c) Behavioural economics
d) Demographics economics

Q2. Which branch of economics studies the stuff of news stories and government policy debates?
a) Macroeconomics
b) Microeconomics
c) Developed economics
d) Information economics

Q3. In which type of economy, there is very little government involvement and allocation of resources here are based on rituals, habits and customs?
a) Traditional economy
b) Free Market economy
c) Open economy
d) Capitalist economy

Q4. In a Type of economy where there is very little governmental interference or control and all the economic decisions are made based on the market princilples, we termed this type of economy as:
a) Traditional economy
b) Mixed economy
c) Open economy
d) Free Market economy

Q5. With reference to the type of economy and their features which one of the following pairs is not correctly matched?
a) Command economy- run based on central planning
b) Mixed economy- combination of public sector and private sector units
c) Open economy- rivalry in supplying or getting an economic service or goods
d) Socialist economy- state in charge of economic planning, production and distribution of goods

Q6. Who was/were published the book “General Theory of Employment, Interest and Money” in 1936?
a) John Maynard Jeynes
b) Adam Smith
c) Both (a) and (b)
d) None of the above

Q7. Which sector of economy is involved in the production of finished goods?
a) Primary Sector
b) Secondary Sector
c) Tertiary Sector
d) Service Sector

Q8. Financial Planning Activities comes under, particularly which sector of economy?
a) Primary Sector
b) Secondary Sector
c) Service Sector
d) Quaternary Sector

Q9. A country’s degree of development evaluated on the basis of:
a) Per Capita GDP
b) Level of Industrialization
c) The amount of widespread infrastructure
d) all of these

Q10. Which branch of economics studies foreign exchange, balance of Payments, Balance of Trade particularly?
a) Macroeconomics
b) Development economics
c) International economics
d) Open economics

1. B
2. A
3. A
4. D
5. C
6. A
7. B
8. D
9. D
10. C

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