Economics MCQs For Lectureship CSS PMS And NTS Part VI. Economics MCQs For Lectureship CSS PMS And NTS Part VI.

Economics MCQs For Lectureship CSS PMS And NTS Part VI

1 What concept did Marshall used in his definition of economics?

Material welfare

2 What is “Wealth of Nations”?

Is a book

3 Can you name the famous book of Alfred Marshall?

Principles of Economics

4 What does Economic Theory means?

Principles of economics

5 What Robbins actually talks about in his definitions?

Scarcity of resources

6 What does Market system means?

Capitalism

7 When was ‘Wealth of Nations’ authored?

1776

8 Utility and usefulness are two

Different concepts

9 Due to which reason the validity of economic theories can never be proved with 100% certainty?

Ceteris Paribus clause

10 When a consumer is in equilibrium?

When marginal utilities are equal