Nature & scope of economics – Test 4

A. C. Pigou published his book”___”

Pigou’s definition of economics, was restricted only to economic system:___

Welfare definitions of economics are more relevant, comprehensive and scientific than wealth definitions.

As per ___, Economics is being regarded as “an engine of social betterment”.

Who first recognized the significance of human welfare?

The important features of Marshall’s definition:____

Who offered most scientific definition of economics?

As per___, “Economics is the science, which studies human behaviours as a relationship between ends and scarce means which have alternative uses.”

“Economics is the science, which studies human behaviours as a relationship between ___ which have alternative uses.”

Scarcity is a situation in which___

As per Robbins definition; Economics is a-

As per Robbins definition; Ends refers to the-

As per Robbins definition: Human wants are

What implications does resource scarcity have for the satisfaction of wants?

Economic goods are considered scarce resources because they-

According to ___, economists should concentrate upon the study of the manner in which an economy tries to solve its problem of scarcity of means of satisfaction as compared with its needs.

On which of the following themes of Economics Samuelson has emphasized?

Rational decision making requires that-

Paul A Samuelson has propounded what has come to be known as the ____ oriented definition of economics.

Paul A Samuelson written a book titled-

The law of Scarcity:____

Who expressed the view that ” Economics is neutral between end”?

A subject is considered science if-
X. It is systematized body of knowledge which traces the relationship between cause and effect.
Y. It is capable of measurement.
Z. It has its own methodological apparatus.

Who said that “An art is a system of rules for the achievement of a given end.”?

Economics is ___