Question

C. State whethe
1. Scarce meang
2. Study of mic
3. Macroecond
4. Normatives
5. In centrally
of profit ma
Answers
1. True
D. Matching
1. From the set
Column
(0) Microec
5. The resources for satisfying human wants are:
(a) limited
(b) unlimited
(c) available at zero prices
(d) none of these
6. Scarcity of resources exists:
(a) at the micro level
(b) at the macro level
(c) micro as well as macro level
(d) none of these
7. Positive economics involves statements which are:
(a) verifiable
(b) not verifiable
(c) may or may not be verifiable
(d) none of these
8. A statement which does not offer any suggestion is known as:
(a) positive statement
(b) normative statement
(c) both (a) and (b)
(d) none of these
9. Normative economics deals with:
(a) facts
(b) opinions
(c) both (a) and (b)
(d) none of these
10. Which of the following is the example of economic activity?
(a) Production
(b) Consumption
(c) Exchange
(d) All of these
11. Who controls economic activities under centrally planned economies?
(a) Industrialists
(b) Private firms
(c) Government
(d) Consumers
12. The government does not interfere in the process of decision-making under:
(a) market economy
(b) centrally planned economy
(c) mixed economy
(d) all of these
13. Consumer is sovereign under:
(a) controlled economy
(b) free economy
(c) mixed economy
(d) both (b) and (c)
(11) Choice
(iii) Positive
(iv) Norma
(v) Mixed
II. Identify
items in
Colu
(i) Mac
(it) Hur
(iii) No
(iv) Eco
(V) PC​

Answer 1

Answer:

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