Introduction to Micro Economics-Test 2

Which of these is an example of Macro economics:

In a capitalist economy the allocation of resources is performed by ————

Which of the following statement is incorrected?

Inequalities of income do not perpetuate in ————–

Which of the following are the features of a Mixed economy ?

Normative Economics is based on :

Dual system of pricing exist in :

In inductive method ,logic proceeds from :

In a capitalist economy , allocation of sources is done by ————–

A capitalist Economy follows the policy of ————

“Economics is the science of choice making ” it implies ————

Which of the following is a part of the subject matter of macro economics?

The usual shape of production possibility curve is ———– towards the origin

What will be the shape of Production possibility curve when marginal opportunity cost is constant?

A capitalist economy is by and large ————

Deductive and Inductive methods are complimentary to each other. It is ————

A free market economy’s driving force is ————-

“Economics is neutral between ends” . the statement is given by ————

A system of economy in which all the means of production are owned and controlled by the private individuals for the purpose of profit , is called

Where does price mechanism exists?

Economy which is concerned with welfare proposition is called

In which among the following systems the “Right to property” exists

Positive science only explains ————

Socialist economy is also known as ————-

Who has defined economics a “Science which deals  with wealth”?

Production possibility curve is also known as ————-

Which of the following is not a feature of a capitalist economy?

The term Mixed economy denotes —————

The most important function of an entrepreneur is to ————

Under inductive method logic proceeds from ————-