ECONOMICS

In economics, human wants are considered to be:

• LIMITED

• UNLIMITED

• DIVERSE

• SCARCE

Economics is considered to be a social science because its study includes:

• ENVIRONMENT

• WOMEN ISSUES

• HUMAN BEHAVIOUR

• NONE OF THE ABOVE

What do you mean by a mixed economy?

Formula to find NDP(Net Domestic Product) is_______

• GDP-Income from abroad

• GDP+Income from abroad

• GNP-Depreciation

• GDP-Depreciation

For comparing the development of countries, their _______ is considered to be one of the most important attributes.

For comparison between countries, total income is not such a useful measure. State whether true or false.

• TRUE

• FALSE

What does “Capitalism” refer to?

• The use of market

• Government ownership of capital

• Private ownership of capital goods

• Private ownership of homes and cars

When was NITI Aayog established?

Central Bank is an___________

What is Open market operations?

• Buying and selling of currency by the central bank

• Buying and selling of securities by the central banks

• Buying and selling of securities by the commercial banks

• Buying and selling of foreign exchange by the central bank