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  • Question 1
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    Directions For Questions

    Ram: "Raise in prices of goods have made it difficult to make two ends meet 
    Shyam: "Yes, the cost of cultivation too has increased very much ".
    Raghu: "Government should take steps to curb the price rise and provide relief to common man".
    Bhola: "Yes, the government should deal strictly on hoarders and black marketers".

    ...view full instructions

    In the above conversation whose statements show normative side of economics.

  • Question 2
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    A consumer reaches equilibrium at the point where _________.

  • Question 3
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    It is not uncommon in a socialist economy that  ______________.

  • Question 4
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     ___________ economics explains cause and effect relationship between economic phenomena.

  • Question 5
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    If an economy is operating at a point inside the production possibilities curve:

  • Question 6
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    Positive economics is concerned with ________.

  • Question 7
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    Which of the following statements would you consider to be a normative one?

  • Question 8
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    One country enjoys a comparative advantage over the other in producing oil when _______________.

  • Question 9
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    Which of the following is positive statement?

  • Question 10
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    If an economy is operating at a point inside the production possibility curve:

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