A. J.P Kense
B. David Ricordo
C. Adam Smith
D. Mankew
Submitted by: M Faheem Jan
Related Mcqs:
- Which economics doctrine opposes government regulation or interference in commerce beyond the minimum necessary for a free enterprise system to operate according to its own economics laws and non-interference in affairs of others ?
A. Free market economy
B. Laissez faire also Laisser faire
C. Open market economy
D. Liberal market economy - Who is called Father of Economics ?
A. Adam smith
B. David Ricardo
C. David smith
D. Adam Ricardo - In economics, the pleasure, happiness, or satisfaction received from a product is called ______?
A. marginal cost
B. rational outcome
C. status fulfillment
D. utilitySubmitted by: Mansoor Ul Haque
- When supply exceeds demand, sellers must lower prices to stimulate sales, when demand exceeds supply, prices increase as buyers compete to buy goods. What this theory is called in economics?
A. Cost push theory
B. Supply and Demand theory
C. Fundamental theory
D. Ricardo’s theory - Data are important in economics because _________ and ____________?
A. they suggest relationships for explanation, allow testing of hypotheses
B. they can be used for tables, they can be graphed
C. they can be used in computers governments use them
D. they provide interesting information can be summarized - The economics the central problem is ?
A. Scarcity
B. Money
C. Consumption
D. Allocation - Economics is the study of ?
A. Production technology
B. Consumption decisions
C. how society decides what how and for whom to produce
D. the best way to run society - Rostow’s economics stages are ?
A. The preconditions for takeoff, the takeoff, the drive to maturity and the age of creative destruction
B. The traditional society the preconditions for takeoff, the takeoff, the drive to maturity and the age of high mass consumption
C. the preconditions for consumption the replication the drive to maturity and the age of high mass consumption
D. the learning curve the age of high mass consumption post takeoff, and the drive to maturity - Economics say that there has to be some from of rationing whenever ?
A. inflation occurs
B. there are externalities
C. merit goods are produced
D. there is excess demand - Which of the following could be considered critical s in development economics ?
A. How do the poorest 2/3 of the world live?
B. What are the major theories of economic development
C. what factors affect labor skills in the third world?
D. All of the above are correct
4 Comments
Samuelson is the father of Economics.
Adam Smith was an 18th-century Scottish economist, philosopher, and author, and is considered the father of modern economics.
Paul Samuelson, Called the father of modern economics, Samuelson became the first American to win the Nobel Prize in Economics (1970) for his work to transform the fundamental nature of the discipline.