Economist
Hello aspirant,
In order to study the supply and demand of resources, goods, and services, economists are professionals who collect and analyze data, observe trends, and evaluate economic concerns. Typically, becoming an economist requires years of extensive schooling and the acquisition of a broad range of abilities. It can be
Question : Statement 1: The term entrepreneur was introduced by French economist Richard Cantillon Statement 2: The term entrepreneur was first introduced in economics by the early 19th century.
Option 1: Both are true
Option 2: Both are false
Option 3: Statement 1 is true and statement 2 is false.
Option 4: Statement 1 is false and statement 2 is true.
Correct Answer: Statement 1 is true and statement 2 is false.
Solution : The term entrepreneur was first introduced in economics by the early 18th century. It was introduced by a French economist Richard Cantillon.
Hence, option C is correct.
Question : Given below is a short passage followed by some items based on the passage. First, read the passage and answer the items based on it. You are required to select your answers based on the contents of the passage and the opinion of the author only.
More than eight months after the national lockdown was announced in late March, urban India is learning to live with the Covid-19 pandemic. In fact, indicating a positive outlook for the future, many survey respondents in a recent survey say they plan to return to pre-lockdown levels of shopping, personal grooming, going to cinemas and socializing as pandemic fears continue to recede. The survey findings highlight that the suppression of consumer demand because of fears of job losses and salary cuts could be coming to an end. Increasingly, urban Indians are showing increased confidence about the future of the economy. This could be an indicator of the possible 'pent-up demand' that several economists have been talking about - a demand that could be unleashed once a vaccine is developed and distributed, or when there are signs of the pandemic's spread reducing to negligible levels or vanishing totally.
Around 65 per cent of respondents said they had settled into new routines, or that they saw signs of the situation improving, or they had come to terms with the pandemic and were moving on with their lives. And since the survey was conducted before the news of the successful trials of the Pfizer vaccine for the coronavirus was announced, it is likely that the consumers are now even more positive in their outlook about the future.
Question:
What predications are made by the economist reagrding the consumer demand?
Option 1: People are settled in their routines
Option 2: There will be further suppression in demand
Option 3: Suppression of demand will be coming to an end
Option 4: People still fear of the loss of jobs and salary cuts
Correct Answer: Suppression of demand will be coming to an end
Solution : The correct response is 3.
Suppression of demand will be coming to an end Explanation:
Examine the following statement:
The survey findings highlight that the suppression of consumer demand because of fears of job losses and salary
Question : Bearing in mind the assertion that economics is a "positive" and not a "normative" science, with which of the following problems would an economist be concerned? I. The unfairness of the distribution of wealth II. The effect on prices due to speculation in raw materials III. The results of union pressure for increased wages IV. The rights and wrongs of exaggerated advertising claims
Option 1: I only
Option 2: II, III
Option 3: I, III
Option 4: I, II, III, IV
Correct Answer: II, III
Solution : The correct answer is (b) II, III
An economist, as a practitioner of positive economics, would primarily focus on objective analysis and explaining economic phenomena as they are, rather than making subjective value judgments. Based on this understanding, an economist would typically be concerned
Question : "An Enquiry into the Nature and Cause of the Wealth of Nations" is an influential work by economist ______.
Option 1: Alfred Marshall
Option 2: John Maynard Keynes
Option 3: Millicent Fawcett
Option 4: Adam Smith
Correct Answer: Adam Smith
Solution : The correct answer is Adam Smith.
Adam Smith, an economist, is well-known for his groundbreaking work, "An Enquiry into the Nature and Cause of the Wealth of Nations." In 1776, an Inquiry into the Nature and Causes of the Wealth of Nations provided
Both of these fields which are Economics and Data Science are in huge demand in Industry nowadays and if we combine these fields, they form the very foundation of the modern society as almost all the banking and the financial engineering fields are bases on the very synergy between the
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ECONOMICS-
MANAGERIAL ECONOMICS-
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Function of economist:
Hello dear aspirant,
Hope you are doing well…
An economist is a professional who studies the production, consumption, and transfer of wealth in order to involve this study into practice and move the levers of modern society.
To become an economist, you have to be between 21 and 30 years
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Firstly, congratulations for getting selected for the Ph.D program. The School of Management & Entrepreneurship, Shiv Nadar University is a reputed institute with knowledgeable & experienced faculty members & you can expect to have a rich experience in your field of education & research.
So, joining the University wouldn't
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