<–2/”>a >Question:Brach of Economics which examines the economic behaviour of Individual actors is
>>>Macroeconomics
>>>Microeconomics
>>>Mesoeconomics
>>>Metaeconomics
>>>option2
Question:Brach of Economics which studies the intermediate level of economic organizations is
>>>Macroeconomics
>>>Microeconomics
>>>Mesoeconomics
>>>Metaeconomics
>>>option3
Question:Study of POVERTY and Inflation is the scope of
>>>Macroeconomics
>>>Microeconomics
>>>Mesoeconomics
>>>Metaeconomics
>>>option1
Question:Keynesian macronimics suggests the following policies
>>>contraction
>>>expansionary
>>>non-interference
>>>none
>>>option2
Question:The General Theory of EMPLOYMENT, Interest and Money (1936) presented the
>>>Marxism
>>>Neoliberalism
>>>Socalism
>>>Keynesian
>>>option4
Question:Indian economics post liberalism can explained as
>>>Neoliberalism
>>>Capitalist
>>>Socialist
>>>Keynesian
>>>option1
Question:A general rise in prices and fall in the purchasing value of money is known as
>>>Inflation
>>>Deflation
>>>Depression
>>>BOP
>>>option1
Question:A reduction of the general level of prices in an economy is
>>>Inflation
>>>Deflation
>>>Depression
>>>BOP
>>>option2
Question:A severe and prolonged downturn in economic activity is
>>>Inflation
>>>Deflation
>>>Depression
>>>BOP
>>>option3
Question:A statement which records all the monetary transactions made between residents of a country and the rest of the world during any given period
>>>Inflation
>>>Deflation
>>>Depression
>>>BOP
>>>option4,
Economics is the study of how people make choices under conditions of scarcity. It is a social science that seeks to understand the production, distribution, and consumption of goods and Services.
Economics is a vast and complex field, but there are a few key concepts that are essential to understanding it. These concepts include demand, supply, market equilibrium, elasticity, consumer choice, production and cost, perfect competition, monopoly, monopolistic competition, oligopoly, externalities, public goods, income inequality, economic Growth, Economic Development, international trade, money and Banking, Monetary Policy, Fiscal Policy, economic policy, economic forecasting, economic history, economic methodology, economic theory, Economic Systems, and economic thought.
Demand is the desire and ability to purchase a good or service. Supply is the willingness and ability to sell a good or service. Market equilibrium is the point at which the quantity demanded of a good or service equals the quantity supplied. Elasticity is a measure of how responsive the quantity demanded or supplied of a good or service is to a change in price. Consumer choice is the process by which individuals make decisions about what goods and services to purchase. Production and cost is the process of creating goods and services and the associated costs. Perfect competition is a market structure in which there are many buyers and sellers of a good or service, and no one buyer or seller has a significant impact on the Market Price. Monopoly is a market structure in which there is only one seller of a good or service. Monopolistic competition is a market structure in which there are many sellers of similar but not identical goods or services. Oligopoly is a market structure in which there are a few large sellers of a good or service. Externalities are costs or benefits that are not paid for or received by the people who cause them. Public goods are goods that are non-rivalrous and non-excludable. Income inequality is the unequal distribution of income within a Society. Economic growth is the increase in the amount of goods and services produced by an economy over time. Economic development is the process of improving the standard of living in a country. International trade is the exchange of goods and services between countries. Money and banking are the institutions and systems that facilitate the exchange of money. Monetary policy is the actions taken by a central bank to control the Money Supply and interest rates. Fiscal policy is the use of government spending and Taxation to influence the economy. Economic policy is the use of government policies to achieve economic goals. Economic forecasting is the use of economic models to predict future economic conditions. Economic history is the study of the economic past. Economic methodology is the study of the methods used in economics. Economic theory is a body of knowledge that explains how the economy works. Economic systems are the different ways in which economies are organized. Economic thought is the study of the ideas that have shaped economic thinking.
Economics is a fascinating and important field of study. It can help us understand how the world works and how to make better decisions about how to allocate our Resources.
What is economics?
Economics is the study of how people use scarce resources to meet their wants and needs.
What are the three basic economic questions?
The three basic economic questions are:
- What goods and services should be produced?
- How should these goods and services be produced?
- Who should get these goods and services?
What are the four factors of production?
The four factors of production are:
- Land
- Labor
- Capital
- Entrepreneurship
What is a market?
A market is a place where buyers and sellers come together to exchange goods and services.
What is a price?
A price is the amount of money that is paid for a good or service.
What is supply?
Supply is the amount of a good or service that producers are willing and able to sell at a given price.
What is demand?
Demand is the amount of a good or service that consumers are willing and able to buy at a given price.
What is equilibrium?
Equilibrium is the point at which supply and demand are equal.
What is a surplus?
A surplus is a situation in which there is more of a good or service available than consumers are willing and able to buy.
What is a shortage?
A shortage is a situation in which there is less of a good or service available than consumers are willing and able to buy.
Inflation is a general increase in prices over time.
What is deflation?
Deflation is a general decrease in prices over time.
What is Unemployment?
Unemployment is the Percentage of the labor force that is unemployed.
What is GDP?
GDP is the total value of all goods and services produced in a country in a given year.
What is the stock market?
The stock market is a place where Shares of ownership in companies are bought and sold.
What is a bond?
A bond is a loan that is made to a company or government.
What is a Recession?
A recession is a period of time when the economy is shrinking.
What is a depression?
A depression is a severe recession.
What is a financial crisis?
A financial crisis is a situation in which the financial system is in turmoil.
What is a trade war?
A trade war is a situation in which two or more countries impose tariffs on each other’s goods.
What is Globalization/”>Globalization-3/”>Globalization?
Globalization is the process of increasing economic integration between countries.
What is the World Bank?
The World Bank is an international financial institution that provides loans to developing countries.
What is the International Monetary Fund?
The International Monetary Fund is an international financial institution that provides loans to countries that are experiencing financial difficulties.
What is the World Trade Organization?
The World Trade Organization is an international organization that promotes free trade.
1. What is economics?
(A) The study of how people make choices under conditions of scarcity.
(B) The study of how businesses make money.
(C) The study of how governments work.
(D) The study of how markets work.
2. What is a market?
(A) A place where goods and services are bought and sold.
(B) A group of people who are willing and able to buy goods and services.
(C) A group of people who are willing and able to sell goods and services.
(D) All of the above.
3. What is a price?
(A) The amount of money that is paid for a good or service.
(B) The value of a good or service.
(C) The amount of money that is demanded for a good or service.
(D) The amount of money that is supplied for a good or service.
4. What is supply?
(A) The amount of a good or service that is available for sale.
(B) The amount of a good or service that people are willing and able to buy.
(C) The amount of a good or service that people are willing and able to sell.
(D) All of the above.
5. What is demand?
(A) The amount of a good or service that people are willing and able to buy.
(B) The amount of a good or service that people are willing and able to sell.
(C) The amount of a good or service that is available for sale.
(D) All of the above.
6. What is a demand curve?
(A) A graph that shows the relationship between the price of a good or service and the quantity demanded of that good or service.
(B) A graph that shows the relationship between the price of a good or service and the quantity supplied of that good or service.
(C) A graph that shows the relationship between the quantity demanded of a good or service and the income of consumers.
(D) A graph that shows the relationship between the quantity demanded of a good or service and the price of other goods and services.
7. What is a supply curve?
(A) A graph that shows the relationship between the price of a good or service and the quantity demanded of that good or service.
(B) A graph that shows the relationship between the price of a good or service and the quantity supplied of that good or service.
(C) A graph that shows the relationship between the quantity supplied of a good or service and the income of consumers.
(D) A graph that shows the relationship between the quantity supplied of a good or service and the price of other goods and services.
8. What is equilibrium?
(A) The point at which the quantity demanded of a good or service equals the quantity supplied of that good or service.
(B) The point at which the price of a good or service is at its lowest possible level.
(C) The point at which the price of a good or service is at its highest possible level.
(D) The point at which the quantity demanded of a good or service is greater than the quantity supplied of that good or service.
9. What is a surplus?
(A) The situation that occurs when the quantity supplied of a good or service is greater than the quantity demanded of that good or service.
(B) The situation that occurs when the quantity demanded of a good or service is greater than the quantity supplied of that good or service.
(C) The situation that occurs when the price of a good or service is at its lowest possible level.
(D) The situation that occurs when the price of a good or service is at its highest possible level.
10. What is a shortage?
(A) The situation that occurs when the quantity demanded of a good or service is greater than the quantity supplied of that good or service.
(B) The situation that occurs when the quantity supplied of a good or service is greater than the quantity demanded of that good or service.
(C) The situation that occurs when the price of a good or service is at its lowest possible level.
(D) The situation that occurs when the price of a good or service is at its highest possible level.