Economics is a social science because
A) The central point in economics is man and his problems
B) Economics uses scientific approach to derive its laws
C) Like History, Politics and Psychology economics deals with the problems of human being
D) All of the above
Correct Answer:
Verified
Q1: The subject matter of economics is concerned
Q2: The wants of the people are
A)Limited
B)Satiable
C)Unlimited
D)All of
Q3: Which one of the following is an
Q4: Production is said to be efficient when:
A)The
Q6: Marginal product of a factor is
A)The additional
Q7: Production function expresses
A)The relationship between input and
Q8: At the 'point of inflection'
A)MP is maximum
B)AP
Q9: Economies of scale refers to:
A)Advantages resulting from
Q10: The law of Diminishing returns is applicable
Q11: Let a firm employs 5 labourers and
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