1081. Who is called the father of economics ?

A. Marshall
B. Robbins
C. Ricardo
D. Adam Smith *

1082. Founder of neo-classical economics is

A. Marshall *
B. Robbins
C. Keynes
D. Friedman

1083. Who advocates laissez fair?

A. Monetarists
B. Classical *
C. Neo-Classical
D. Modern

1084. Ordinal measurement approach was not presented by :

A. Allen
B. Hicks
C. Edge worth
D. Robbins *

1085. Resource in an economy :

A. Are alway fixed
B. Can never decrease
C. Always increase over time
D. Are restricted at any time *

1086. Human wants are :

A. Always fixed
B. Limited
C. Unlimited *
D. Like to decrease over time

1087. When you choose a certain course of action, you make sacrifices known as the:

A. Alternative
B. Opportunity cost *
C. Consumer cost
D. Producer cost

1088. Which of the following is not an essential question in economics?

A. What to produce
B. Who to produce for
C. How to produce
D. How to maximize economic growth *

1089. Revealed preferences theory was presented by :

A. Samuelson *
B. Hicks
C. Marshall
D. Ricardo

1090. The fundamental issue affecting all societies’ finances is:

A. Unemployment
B. Inequality
C. Poverty
D. Scarcity *