Deck 2: Economics and Social Science

Question 1

A function refers to :

A)the demand for a commodity
B)the supply of a commodity
C)the demand and supply of a commodity service or resource
D)the relationship between one dependent variable and one or more independent variables.

Answer 1

the relationship between one dependent variable and one or more independent variables.

Question 2

The validity of an economic theory is judged by its power to:

A)explain an economic phenomenon
B)predict the course of an economic phenomenon
C)prove or disprove a hypothesis
D)reveal the economic laws

Answer 2

explain an economic phenomenon

Question 3

The subject matter of economics is the study of:

A)wealth
B)welfare
C)scarcity
D)scarcity and choice

Answer 3

scarcity and choice

Question 4

To whom do you attribute the 'growth' definition of economics?

A)Paul Samuelson
B)Lionel Robbins
C)Milton Friedman
D)Alfred Marshall

Question 5

The first economist who coined the terms micro economics and macroeconomics

A)Ragnar Frisch
B)Keynes
C)Marshall
D)Friedman

Question 6

Microeconomics deals with:

A)the theory of factor pricing
B)the theory of product pricing
C)the theory of economic welfare
D)all the above

Question 7

Prof. Robbin's definition of Economics is:

A)scarcity definition
B)growth definition
C)welath definition
D)welfare definition

Question 8

A theory is:

A)an assumption
B)a validated hypothesis
C)an 'if then' proposition
D)a hypothesis

Question 9

The book 'Principles of Economics' was written by:

A)Keynes
B)Marshall
C)Samuelson
D)Pigou

Question 10

Average revenue is :

A)tr - tc
B)tr / no. of units sold
C)tc / tr
D)mc / ar

Question 11

A hypothesis is a :

A)statement of facts
B)statement of observations made by a researcher
C)statement of expected out of research
D)a proposition the validity of which is to be tested

Question 12

In the classical system, the basic economic problems are solved by:

A)government
B)price mechanism
C)economists
D)central bank

Question 13

Growth definition of economics was concerned with:

A)scarcity
B)welfare
C)wealth
D)economic growth

Question 14

A market:

A)necessarily refers to a meeting place between buyers and sellers
B)does not necessarily refer to a meeting place between buyers and sellers
C)extends over the entire nation
D)extends over a city.

Question 15

The average fixed cost is obtained by :

A)tfc / q
B)mc / q
C)tac / q
D)avc / q

Question 16

Average Revenue curve under monopoly is :

A)upward slopping
B)downward slopping
C)horizontal straight line
D)none of these

Question 17

_______ investigations examine an individual's relationship with and interaction in society

A)natural science
B)physical science
C)life science
D)social science

Question 18

In the 19th century _________ argued that ideas pass through three rising stages namely, Theological, Philosophical and Scientific.

A)auguste comte
B)plato
C)aristotle
D)socrates

Question 19

_________ is distinctive for much greater use of mathematics than the other social sciences, a development made possible by the development of a concept of utility

A)sociology
B)political science
C)economics
D)anthropology

Question 20

The most important founder of German sociology, __________ , was keenly interested in maintaining the relationship between economics and sociology.

A)Max Adler
B)Max Weber
C)Karl Marx
D)Joseph W. Eaton

Question 21

International Social Science Associations were founded under the auspices of___________

A)unesco
B)world bank
C)imf
D)usa

Question 22

________ social science discipline deals with the integration of different aspects of the Social Sciences, Humanities, and Human Biology

A)criminology
B)demography
C)geography
D)anthropology

Question 23

Social science can help to appreciate the values enshrined in the Indian Constitution such as justice, liberty, equality and fraternity and the unity and integrity of the nation and the building of a socialist, secular and democratic society.

A)true
B)false
C)none
D)none.

Question 24

______is primarily done by observing or testing on real-life data or analysing the pattern of some specific events in order to identify the nature or the class of trend that specific phenomenon maintains.

A)empirical research
B)action research
C)laboratory research
D)exploratory research

Question 25

_____ has distinguished between different types of societies on basis of economic system.

A)Joseph W. Eaton
B)Max webber
C)Karl Marx
D)Alphons Silbermann