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  • Question 1
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    A _________ is the locus of all such combinations of two commodities which can be produced in a country with its given resources and technology.

  • Question 2
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    Micro and Macro Economics were coined by ________during the twenties, and since then they are frequently used by economists for economic analysis.

  • Question 3
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    Microeconomics and macroeconomics are not independent approaches to economic analysis but they are complementary to each other.

  • Question 4
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    Based on PPF figure given below, the opportunity cost of producing 7th Carrot is _________.

  • Question 5
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    Which among the following describes the major difference between micro economics and macro economics?

  • Question 6
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    Ram: My corn harvest this year is poor.
    Lakshman: Don't worry. Price increases will compensate for the fall in quantity supplied.
    Krishna: Climate affects crop yields. Some years are bad, others are good.
    Balram: The Government ought to guarantee that our Income will not fall.
    In this conversation, the normative statement is made by ____________.

  • Question 7
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    Which of these is correct, if economics is considered as a positive science?

  • Question 8
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    ___________ economics explains economic phenomena according to their cause and effects.

  • Question 9
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    Which of these is false, if economics is considered as a normative science?

  • Question 10
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    State which of the following represents macro from the national point of view.

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