Multiple Choice
Economics is a social science because
A) The central point in economics is man and his problems
B) Economics uses scientific approach to derive its laws
C) Like History, Politics and Psychology economics deals with the problems of human being
D) All of the above
Correct Answer:
Verified
Correct Answer:
Verified
Q1: At the 'point of inflection'<br>A)MP is maximum<br>B)AP
Q2: Let a firm employs 5 labourers and
Q3: The law of Diminishing returns is applicable
Q4: Production is said to be efficient when:<br>A)The
Q5: Economies of scale refers to:<br>A)Advantages resulting from
Q7: The wants of the people are<br>A)Limited<br>B)Satiable<br>C)Unlimited<br>D)All of
Q8: Which one of the following is an
Q9: A firm produces 200 units of commodity
Q10: The subject matter of economics is concerned
Q11: Production function expresses<br>A)The relationship between input and