Question 1

Micro economic theory studies how a free enterprise economy determines:

Accepted Answer

A) the price of goods 
B) the price of services 
C) the price of resources 
D) all of these. 
A) the price of goods 
B) the price of services 
C) the price of resources 
D) all of these.

Question 2

Find out the correct statement:

Accepted Answer

A) prediction of economic models cannot be refuted by empirical evidence 
B) models transform verbal expressions in to more scientific expressions 
C) models make no assumptions 
D) economic models are comprehensive and not partial 
A) prediction of economic models cannot be refuted by empirical evidence 
B) models transform verbal expressions in to more scientific expressions 
C) models make no assumptions 
D) economic models are comprehensive and not partial

Question 3

Who considered Political Economy as "an enquiry into the nature and causes of the wealth of nations"?

Accepted Answer

A) Adam Smith 
B) J. B. Say 
C) Marshall 
D) Keynes 
A) Adam Smith 
B) J. B. Say 
C) Marshall 
D) Keynes

Question 4

In a free enterprise economy, the problems of what, how and for whom to produce are solved by :

Accepted Answer

A) a planning committee 
B) the price mechanism 
C) the planning commission 
D) none of these. 
A) a planning committee 
B) the price mechanism 
C) the planning commission 
D) none of these.

Micro economic theory studies how a free enterprise economy determines:

Find out the correct statement:

Who considered Political Economy as "an enquiry into the nature and causes of the wealth of nations"?

In a free enterprise economy, the problems of what, how and for whom to produce are solved by :

Economics and Social Science

Economic Concepts and Principles in Business Operations

Production, Costs, and Demand Analysis

Demand Analysis and Utility Theory in Economics

Economics: Demand, Supply, and Market Equilibrium

Supply and Demand Elasticity

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Exam 1: Economics: Definitions, Methods, and Concepts

Micro economic theory studies how a free enterprise economy determines:

Find out the correct statement:

Who considered Political Economy as "an enquiry into the nature and causes of the wealth of nations"?

In a free enterprise economy, the problems of what, how and for whom to produce are solved by :

Economics and Social Science

Economic Concepts and Principles in Business Operations

Production, Costs, and Demand Analysis

Demand Analysis and Utility Theory in Economics

Economics: Demand, Supply, and Market Equilibrium

Supply and Demand Elasticity

Filters