Economics Quiz Questions With Answers

Questions and Answers
  • 1.
    What year did Sir Ragnar Frisch coin the terms micro and macro economics?
    • A.

      1993

    • B.

      1994

    • C.

      1995

    • D.

      1996

  • 2.
    Lionel Robbins explained relationship between
    • A.

      Ends and source means

    • B.

      Ends and scarce means

    • C.

      Initial and scarce means

    • D.

      None of the above

  • 3.
    Alfred Marshall Focused on
    • A.

      Standard supply and demand graph

    • B.

      End users

    • C.

      Scare mean

    • D.

      Standard supply

  • 4.
    What is not a central problem of an economy?
    • A.

      Where to produce

    • B.

      What to produce

    • C.

      How to produce

    • D.

      For whom to produce

  • 5.
    When did Adam smith wrote his first book wealth of nation?
    • A.

      March 8, 1776

    • B.

      March 9, 1776

    • C.

      March 10, 1776

    • D.

      March 9, 1777

  • 6.
    Father of modern economics is
    • A.

      Adam Smith

    • B.

      John Maynard

    • C.

      Ragnar Frisch

    • D.

      Alfred Marshall

  • 7.
    The critical minimum effort theory is associated with the name
    • A.

      Alfred Marshall

    • B.

      Ragnar Frisch

    • C.

      Harvey Leibenstein

    • D.

      Adam Smith

  • 8.
    Who gave the absorption approach theory?
    • A.

      Adam Smith

    • B.

      Alfred Marshall

    • C.

      Sidney Alexander

    • D.

      B Soderston

  • 9.
    GDP stands for
    • A.

      Goods Dealing Partnership

    • B.

      Gross Domestic Proximity

    • C.

      Goods Domestic Product

    • D.

      Gross Domestic Product

  • 10.
    GNP stands for
    • A.

      Goods national product

    • B.

      Gross netizen’s product

    • C.

      Gross national product

    • D.

      None of the above

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