Scientific attempts to describe economic relationships are :
A) Factual and can never be wrong
B) Accurate ways to predict political viewpoints
C) Known as positive economics
D) Directed at the fairness of social programs
Correct Answer:
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Q6: Adam Smith, the father of modern economic
Q7: _ introduced the concept of welfare in
Q8: Who defined economics as: a science which
Q9: The problem of scarcity and choice making
Q10: Macroeconomics is primarily concerned with aggregates. Which
Q12: The _ method consists in deriving conclusions
Q13: _is a term referring to an intellectual
Q14: Inductive method which also called empirical method
Q15: Decisions made in households, firms, and government
Q16: Knowledge used to combine resources productively is
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