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15 Qs

quiz-placeholder

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CA FOUNDATION ELITE

CA FOUNDATION ELITE

Assessment

Quiz

Mathematics

University

Medium

Created by

COSMIC CATALYST

Used 12+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 3 pts

Adam Smith published his master piece “An enquiry into the nature and causes of wealth of nations” in the year __________.

1776

1786

1789

1790

2.

MULTIPLE CHOICE QUESTION

1 min • 3 pts

Economics is the science of choice making’. It implies:

No choice is to be made

Choice to be made between alternative uses

Choice to be made between means and ends

None of the above

3.

MULTIPLE CHOICE QUESTION

1 min • 3 pts

Consider the following and decide which, if any, economy is without scarcity:

The pre-independent Indian economy, where most people were farmers.

A mythical economy where everybody is a billionaire.

Any economy where income is distributed equally among its people.

None of the above

4.

MULTIPLE CHOICE QUESTION

1 min • 3 pts

__________ refers to the process of selecting an appropriate alternative that will provide the most efficient means of attaining a desired end, from two or more alterative courses of action.

Decision making

Strategy

Problem Solving

Effectiveness

5.

MULTIPLE CHOICE QUESTION

1 min • 3 pts

Micro economics does not study __________.

Consumer behaviour

Factor pricing

General price level

Firms equilibrium

6.

MULTIPLE CHOICE QUESTION

1 min • 3 pts

This year due to heavy rainfall my option crop was damaged
Krishna: Climates affects crop yields. Some years are bad, other are good
Hari: Don’t worry – Price increase will compensate for the fall in quantity supplied
Radhe: The Government ought to guarantee that our income will not fall.
In this conversation, the normative statement is made by

Shyam

Krishna

Hari

Radhe

7.

MULTIPLE CHOICE QUESTION

1 min • 3 pts

Normative aspect of Economics is given by:

Marshall

Robbins

Adam Smith

Samuelson

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