Introduction to Economics

Who is the father of Economics?

• Adam Smith

• Alfred Marshall

• Prof. Samuelson

• Lionel Robbins

Name the book written by Alfred Marshall

• An essay on the nature & significance of Economic Science

• Principles of Economics

• Study of Economics

• An enquiry into the nature & causes of wealth of nations

Scarcity definition was given by

• Lionel Robbins

• Prof Samuelson

Who coined the term Micro & Macro Economics

• Adam Smith

• J.S.Mill

• J.B. Say

• Prof Ragnar Frisch

The term "Economics" was originally derived from the two Greek word oikos & nomous which means

• Financial Planning

• Household Budget

• Household Management

• National Income

Prof Samuelson gave which definition

• Wealth

• Welfare

• Scarcity

• Growth

_________ is also called as price theory.

In Macroeconomics the letter A stands for?

• Accounting

• Asset

• Aggregate

• Arbitrage pricing theory

Choose a correct example which doesn't fall under the category of micro economics

• Output of a firm

• Household Income

• Supply of a commodity

• National Income

All those activities which are concerned with money & wealth are called __________.