Who is called Father of Economics ?

Related Mcqs:

1. 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

2. Who is called the father of Economics?

   A. J.P Kense
   B. David Ricordo
   C. Adam Smith
   D. Mankew

   Submitted by: M Faheem Jan

3. 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

4. In economics, the pleasure, happiness, or satisfaction received from a product is called ______?

   A. marginal cost
   B. rational outcome
   C. status fulfillment
   D. utility

   Submitted by: Mansoor Ul Haque

5. The branch of economics ‘Microeconomics’ deals with______________?

   A. small units, including individual companies and small group of consumers
   B. Economics of homes
   C. Economics of stock market
   D. Economics of provinces

6. Which economics term describes the takeover of one textile manufactures by another ?

   A. Diversification
   B. horizontal integration
   C. monopoly
   D. vertical integration

7. Development means economics growth plus ?

   A. Inflation
   B. Deflation
   C. Social change
   D. Price stability

8. The economics system planned economy is ?

   A. In which economists control production
   B. In which production and distribution of wealth is under government’s control
   C. In which technocrats control production
   D. In which government controls distribution

9. Keynesian economics is an economic theory of British economist John Maynard. What this theory states ?

   A. A free market is necessary for economic growth and stability
   B. Regulation is necessary for economic growth and stability
   C. Active government intervention is necessary to ensure economic growth and stability
   D. Government intervention is not necessary to ensure economic growth and stability

10. 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