Question : The economic definition of welfare is offered by ?
Option 1: Samuelson
Option 2: Alfred Marshall
Option 3: A,C Pigou
Option 4: Lionel Robbins
Correct Answer: Alfred Marshall
Solution : The economic definition of welfare is offered by Alfred Marshall. Alfred Marshall, a proponent of neoclassical economics, made an effort to broaden his field of study by proposing the welfare concept of economics.
Hence , the correct option is 2.
Question : Who originated the fundamental cardinal concept of utility?
Option 1: Robbins
Option 2: Pal a Samuelson
Option 3: Hicks and allen
Option 4: Alfred Marshall
Question : Who propounded the Innovation theory of profits ?
Option 1: J .A. Schumpeter
Option 2: P .A. Samuelson
Option 3: Alfred Marshall
Option 4: David Ricardo
Question : Who has been coined the term “utility”?
Option 1: Pigou
Option 2: Marshall
Option 4: Robbins
Question : Who has given ordinal utility theory?
Option 1: Alfred Marshall
Option 2: AC Pigou
Option 3: Hicks and Allen
Question : The Liquidity Preference Theory of Interest was propounded by :
Option 1: J. M. Keynes
Option 2: David Ricardo
Option 4: Adam Smith
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