Economics MCQs – Chapter 1 DAE 15 min Score: 0 Attempted: 0/15 Subscribe 1. Which economist is known as the father of economics? (A) Prof. Cannon (B) Prof. Robbins (C) Adam Smith (D) Alfred MarshallShow All Answers 2. The book “Wealth of Nations” was written in …………...? (A) 1776 (B) 1770 (C) 1890 (D) 1990Show All Answers 3. How many schools of thoughts in the economics? (A) 5 (B) 4 (C) 3 (D) 6Show All Answers 4. There are …………...aspects of Adam Smith’s book: (A) Two (B) Three (C) Five (D) FourShow All Answers 5. Who is the pioneer of classical school of thought? (A) Prof. Robbins (B) Alfred Marshall (C) Adam Smith (D) All of theseShow All Answers 6. Who is the pioneer of neo-classical school of thought? (A) Adam Smith (B) None of these (C) Prof. Robbins (D) Alfred MarshallShow All Answers 7. When Alfred Marshall wrote his book “Principles of Economics”? (A) 1890 (B) 1876 (C) 1880 (D) 1776Show All Answers 8. Who criticized Marshall’s definition of economics? (A) Adam Smith (B) Prof. Robbins (C) Malthus (D) Prof. CannonShow All Answers 9. Robbin’s institute was: (A) Cambridge University (B) Oxford University (C) London School of Economics (D) Punjab UniversityShow All Answers 10. Professor Robbin belongs to: (A) America (B) Japan (C) New Zealand (D) LondonShow All Answers 11. Whether Economics is science or/and art? (A) Science (B) Art (C) Both (D) NoneShow All Answers 12. Macro Economics analyzes the decisions made by………? (A) Individual (B) Both (C) Government (D) NoneShow All Answers 13. Micro Economics studies the decisions made by………? (A) Individual (B) Business (C) Both (D) NoneShow All Answers 14. Importance of studying economics is/are? (A) Utilization of resources (B) Analysis of performance (C) Knowledge of economic trends (D) AllShow All Answers 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) Economics (C) Entomology (D) BiologyShow All Answers