1. .1 Which economist is known as the father of economics?
(A) Prof. Cannon
(B) Prof. Robbins
(C) Adam Smith
(D) Alfred Marshall
2. .2 The book “Wealth of Nations” was written in …………..?
(A) 1770
(B) 1776
(C) 1890
(D) 1990
3. .3 How many schools of thought in economics?
(A) 3
(B) 4
(C) 5
(D) 6
4. .4 There are …………..aspects of Adam Smith’s book:
(A) Two
(B) Three
(C) Four
(D) Five
5. .5 Who is the pioneer of classical school of thought?
(A) Adam Smith
(B) Alfred Marshall
(C) Prof. Robbins
(D) All of these
6. .6 Who is the pioneer of neo-classical school of thought?
(A) Adam Smith
(B) Alfred Marshall
(C) Prof. Robbins
(D) None of these
7. .7 When Alfred Marshall wrote his book “Principles of Economics”?
(A) 1776
(B) 1876
(C) 1880
(D) 1890
8. .8 Who criticized Marshall’s definition of economics?
(A) Adam Smith
(B) Prof. Robbins
(C) Malthus
(D) Prof. Cannon
9. .9 Robbins’ institute was:
(A) Cambridge University
(B) Oxford University
(C) London School of Economics
(D) Punjab University
10. .10 Professor Robbins belongs to:
(A) America
(B) Japan
(C) London
(D) New Zealand
11. .11 Whether Economics is science or/and art?
(A) Science
(B) Art
(C) Both
(D) None
12. .13 Micro Economics studies the decisions made by………?
(A) Individual
(B) Business
(C) Both
(D) None
13. .14 Importance of studying economics is/are?
(A) Utilization of resources
(B) Analysis of performance
(C) Knowledge of economic trends
(D) All
14. .15 It is essential for technicians that along with technical skills, they also have the knowledge of……………for their success in industry?
(A) Psychology
(B) Biology
(C) Entomology
(D) Economics