Question : Which of the following is an example of positive economics?

Option 1: The government should regulate monopolistic behavior to protect consumers.

Option 2: Supply and demand determine market prices.

Option 3: Wealth should be redistributed to achieve social equality.

Option 4: Economic policies should prioritize environmental sustainability.

Question : The activities involved in managing an enterprises are common to all organisations whether economics, social or political. It shows which characteristic of management?

Option 1: Dynamic function

Option 2: Pervasive

Option 3: Multi dimensional

Option 4: Continuous process

Question : Find the correct match:

Option 1: An enquiry into the nature and causes of the wealth of the nation: A.C. Pigou.

Option 2: Science that deals with wealth: Alfred Marshall.

Option 3: Economics is the science that studies human behavior as a relationship between ends and scarce means which have alternative uses: Robbins.

Option 4: The range of our enquiry becomes restricted to that part of social welfare that can be brought directly or indirectly into relation with the measuring rod of money: Adam Smith

Question : One of the following is "Labour" in economics.

Option 1: A musician performing for a benefit fund

Option 2: A painter working for his pleasure

Option 3: Reading a book as a hobby

Option 4: A mother teaching her son

Question : Parts of the following sentence have been given as options. Select the option that contains an error.

There was a saying that they’re their own enemies with negligble reason to be shared.

Option 1: There

Option 2: negligble

Option 3: they’re

Option 4: their

Question : Fill in the blank with the most appropriate word.

Ram loves maths_____ his sister is interested in Economics.
 

Option 1: therefore
 

Option 2: whereas
 

Option 3: whether
 

Option 4: still

Question : What is the value of $14 \frac{2}{7}$% of $301+12.5$% of 184?

Option 1: 64

Option 2: 70

Option 3: 66

Option 4: 68

Question : Normative economics deals with:

Option 1: Economic data analysis

Option 2: Objective and value-free analysis

Option 3: Economic policies and ethical judgments

Option 4: Economic theories and models

Question : Comprehension:

In the following passage, some words have been deleted. Read the passage carefully and select the most appropriate option to fill in each blank.

Globalisation is not a new (1)_______. Traders travelled vast distances in ancient times to buy commodities that were (2) ______and expensive for sale in their homelands. The Industrial Revolution brought (3)_________ in transportation and communication in the 19th century that eased trade across borders. The think tank, Peterson Institute for International Economics (PIIE), states globalisation (4)________after World War I and nations moved toward (5)________ as they launched import taxes to more closely guard their industries in the aftermath of the conflict.

Select the most appropriate option to fill in the blank number 2.

Option 1: plentiful

Option 2: common

Option 3: preserved

Option 4: rare

Question : Comprehension:

In the following passage, some words have been deleted. Read the passage carefully and select the most appropriate option to fill in each blank.

Globalisation is not a new (1)_______. Traders travelled vast distances in ancient times to buy commodities that were (2) ______and expensive for sale in their homelands. The Industrial Revolution brought (3)_________ in transportation and communication in the 19th century that eased trade across borders. The think tank, Peterson Institute for International Economics (PIIE), states globalisation (4)________after World War I and nations moved toward (5)________ as they launched import taxes to more closely guard their industries in the aftermath of the conflict.

Select the most appropriate option to fill in the blank number 4.

Option 1: trooped

Option 2: soared

Option 3: de-escalated

Option 4: stalled