Question 1
What does the term 'investment' refer to in economics?
Question 2
What are goods called that are provided by the government?
Question 3
What distinguishes economic activities from non-economic activities?
Question 4
What is the definition of microeconomics?
Question 5
What term is used for the surplus of income over expenditure?
Question 6
According to Lionel Robbins, what is the main focus of economics?
Question 7
Which of the following is considered a non-economic activity?
Question 8
What are factors of production?
Question 9
What are private goods?
Question 10
Which type of goods are directly used for consumption?
Question 11
Which term refers to the capacity of a commodity to satisfy human wants?
Question 12
Which famous economist defined economics as the 'science of wealth of nations'?
Question 13
Which economist described economics as the study of mankind in ordinary business life?
Question 14
What is the act of using goods and services referred to as?
Question 15
What is the primary purpose of economic activities?