1071. Which kind of economics deals with issues such as unemployment ,inflation, and economic growth ?

A. Macro economics *
B. Micro economics
C. Growth economics
D. Political economics

1072. Is economics the same as business ?

A. Yes, because it examines money and its acquisition.
B. No, because it studies more kinds of decisions than those made by business *
C. Yes, because it studies how to use resources to make products, and that is what business does
D. No, Because business decisions are not related to decisions studied by economics

1073. Which of the following might be a scarce good ?

A. love
B. Faith
C. Self-Control
D. All of above *

1074. A scarce good :

A. Does not exist
B. Is something that can only be bought with money.
C. Is a decent that can never be bought with cash
D. Is a good that is available in limited quantities, but is desired in greater quantities *

1075. In economics, when we say that people are rational, we mean that they :

A. Never make mistakes
B. Try to get what they desire as best they can, given the limitations they face *
C. Logically figure out what to do
D. Behave in a random, unpredictable manner

1076. What makes economics scientific?

A. It compares theories to observations and adjusts theories if necessary *
B. It uses numbers to measure things
C. It Involves the use of experiments
D. It describes how things operate.

1077. What does ceteris paribus mean ?

A. “Scientific method”
B. “Rational thinking “
C. “Other things remaining unchanged”
D. “There are no free lunches.” *

1078. In land intensive method which mean production is used comparatively more :

A. Labour
B. Land *
C. Capital
D. Organization

1079. Profit making is basic motive in :

A. Socialism
B. Mixed economy
C. Communism
D. Capitalism *

1080. Market mechanism is the feature of :

A. Mixed economy
B. Capitalism *
C. Socialism
D. Communism