Multiple Choice
Adam Smith, the father of modern economic theory, defined economics as a subject, which is mainly concerned with the study of nature and causes of generation of
A) wealth
B) welfare
C) hipness
D) scarcity
Correct Answer:
Verified
Correct Answer:
Verified
Q6: The method consistsin deriving conclusionsfrom general truths,
Q7: Who defined economics as: a science which
Q8: Theories are:<br>A)much more complicated than common sense<br>B)scientific
Q9: Milton Friedman restated the :<br>A)labour theory<br>B)profit theory<br>C)quantity
Q10: If the value of a variable varies
Q12: Which of the following concepts are most
Q13: Macroeconomicsis primarily concerned with aggregates. Which of
Q14: Division of Labour is limited by the
Q15: The problem of scarcity and choice making
Q16: is a term referring to an intellectual