General Economics Quiz Questions With Answers

10 Questions | Total Attempts: 141

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General Economics Quiz Questions With Answers - Quiz

This is a general economics quiz questions with answers for all the students who are preparing for competitive exams. If you're one of them, then play it out. Economics is a branch of social science that deals with goods production, distribution, and consumption. It is divided into two parts: microeconomics and macroeconomics. The quiz contains some of the general knowledge questions related to this subject. Interested ones can take up the quiz and test their knowledge. Good luck in advance.


Questions and Answers
  • 1. 
    What year did Sir Ragnar Frisch coin the terms micro and macro economics?
    • A. 

      1993

    • B. 

      1994

    • C. 

      1995

    • D. 

      1996

  • 2. 
    Lionel Robbins explained relationship between
    • A. 

      Ends and source means

    • B. 

      Ends and scarce means

    • C. 

      Initial and scarce means

    • D. 

      None of the above

  • 3. 
    Alfred Marshall Focused on
    • A. 

      Standard supply and demand graph

    • B. 

      End users

    • C. 

      Scare mean

    • D. 

      Standard supply

  • 4. 
    What is not a central problem of an economy?
    • A. 

      Where to produce

    • B. 

      What to produce

    • C. 

      How to produce

    • D. 

      For whom to produce

  • 5. 
    When did Adam smith wrote his first book wealth of nation?
    • A. 

      March 8, 1776

    • B. 

      March 9, 1776

    • C. 

      March 10, 1776

    • D. 

      March 9, 1777

  • 6. 
    Father of modern economics is
    • A. 

      Adam Smith

    • B. 

      John Maynard

    • C. 

      Ragnar Frisch

    • D. 

      Alfred Marshall

  • 7. 
    The critical minimum effort theory is associated with the name
    • A. 

      Alfred Marshall

    • B. 

      Ragnar Frisch

    • C. 

      Harvey Leibenstein

    • D. 

      Adam Smith

  • 8. 
    Who gave the absorption approach theory?
    • A. 

      Adam Smith

    • B. 

      Alfred Marshall

    • C. 

      Sidney Alexander

    • D. 

      B Soderston

  • 9. 
    GDP stands for
    • A. 

      Goods Dealing Partnership

    • B. 

      Gross Domestic Proximity

    • C. 

      Goods Domestic Product

    • D. 

      Gross Domestic Product

  • 10. 
    GNP stands for
    • A. 

      Goods national product 

    • B. 

      Gross netizen's product 

    • C. 

      Gross national product 

    • D. 

      None of the above

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