Nature & scope of economics – Test 3

Wants are-

The “means” available for satisfaction of wants are ____

In a mixed economy, ____

“If economists were laid end to end, they would not reach a conclusion”. This is said by-

Arrange the following in proper from: Stages as economics developed as a subject:
I. Material Welfare Definition
II. Wealth Definition
III. Development and Growth Definition
IV. Scarcity and Choice Definition

Which of the following is the best general definition of the study of Economics?

Who is considered to be the founding father of economics?

During the eighteenth and the early part of nineteenth century, Adam Smith, considered to be the founding father of modern economics, along with economists like-
X. Alfred Marshall
Y. J. B. Say
Z. Walker

Who systematized the concept in the form the book which was entitled as, “An Enquiry into the Nature and Cause of the Wealth of Nations”?

Adam Smith systematized the concept in the form the book which was entitled as, ” An Enquiry into the Nature and Cause of the Wealth of Nations” published in-

Who of the following referred economics as the “science of wealth”?
X) J. B. Say
Y) Walker
Z) Adam Smith

Who of the following referred ‘economics’ as the science of wealth?

Who of the following referred ‘economics’ as the science of wealth?

____ assumed that, the wealthier a nation, the happier its citizens are.

The central point in Adam Smith’s definition is-

Who defined Economics in terms of “The Science of Wealth”?

Which of the following is demerit of ‘Wealth Definition’?

Welfare definitions of economics were propounded by-

Welfare definitions of economics was propounded by Alfred Marshall and supported by economists like-
I) A. C. Pigou
II) J. N. Keynes
III) Lionel Robbins

As per ___, “Economics is a study of man in the ordinary business of life. It enquires how he gets his income and how he uses it. Thus, it is on the one side, the study of wealth and on the other and more important side, a part of the study of man”.

Alfred Marshall published his book,”___”

Alfred Marshall published his book, “Principles of Economics” in-

According to Marshall, “End is the ___”.

Who is the pioneer of welfare thought?

“The range of our inquiry becomes restricted to that part of social welfare that can be brought directly or indirectly into relation with the measuring rod of money”. This definition is given by-