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Introduction Test - 4

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Introduction Test - 4
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Weekly Quiz Competition
  • Question 1
    1 / -0

    It is the part of income which is not consumed

    Solution

    Having satisfied their wants with money, consumers save a part of their income. 

  • Question 2
    1 / -0

    The study of mankind in the ordinary business of life

    Solution

    The phrase 'business of life ' implies all the three aspects of economics : production  , distribution and consumption  .This definition was given by Alfred Marshall.

  • Question 3
    1 / -0

    The activity which is related to the use of scarce resources

    Solution

    The source of all economic problems is scarcity of resources. 

  • Question 4
    1 / -0

    Following are the non economic activities except

    Solution

    Distribution is done taking into regard monetary gains. 

  • Question 5
    1 / -0

    Non economic activities are

  • Question 6
    1 / -0

    Economic activity which is concerned with production of capital goods for further production of goods and services

    Solution

    Investment refers to purchase of capital goods to create wealth rather than consuming it. 

  • Question 7
    1 / -0

    Which of the following is a social activity

    Solution

    It implies no personal motive and is therefore social work . 

  • Question 8
    1 / -0

    Inter-sectoral comparison means

    Solution

    An economy is divided into a number of sectors and  we need to analyse different sectors in order to analyse an economy. So, comparison is made between different sectors known as intersectoral comparison. 

  • Question 9
    1 / -0

    ______ is the root of all economic problems

    Solution

    Had all resources in infinite abundance , the problems :what to produce , for whom to produce and how to produce wouldn't have taken place. 

  • Question 10
    1 / -0

    Economics that deal with economic issues related to units like a household, a firm or an industry

    Solution

    All these deal with parts rather than wholes of an economy. 

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