Basic Economics Quiz: Exam!
10 Questions
Questions and Answers
- 1.Man get it free in natural form:
- A.
Economics
- B.
Free goods
- C.
Economic goods
- D.
Scarcity
- 2.The things that have value or price:
- A.
Economics
- B.
Free goods
- C.
Economic goods
- D.
Scarcity
- 3.It is the study of production, consumption, and distribution of goods and services.
- A.
Economics
- B.
Free goods
- C.
Economic goods
- D.
Scarcity
- 4.It is the study of the behavior of the entire economy.
- A.
Economics
- B.
Microeconomics
- C.
Macroeconomics
- D.
Scarcity
- 5.It is the study of the small unit of the economy.
- A.
Economics
- B.
Microeconomics
- C.
Macroeconomics
- D.
Scarcity
- 6.He discovered the Law of Diminishing Marginal Returns.
- A.
Adam Smith
- B.
David Ricardo
- C.
Thomas Robert Malthus
- D.
Karl Marx
- 7.He is the father of communism.
- A.
Adam Smith
- B.
David Ricardo
- C.
Thomas Robert Malthus
- D.
Karl Marx
- 8.He is the father of modern economics.
- A.
Adam Smith
- B.
David Ricardo
- C.
Thomas Robert Malthus
- D.
John Maynard Keynes
- 9.He explained the law of supply and demand.
- A.
Adam Smith
- B.
David Ricardo
- C.
Thomas Robert Malthus
- D.
John Maynard Keynes
- 10.His theory is known as the Malthusian Theory.
- A.
Adam Smith
- B.
David Ricardo
- C.
Thomas Robert Malthus
- D.
John Maynard Keynes
Back to top