The definition given by Robbins has taken an entirely static view of the
Scarcity Problem
Distribution
Problem of choice
Causes of wealth
Agricultural productivity can be improved through
Factors of production
Income opportunities
Organising business activities
Industrialization
The maximum social welfare is the sole objective of
Socialism
Capitalism
Mixed economy
All the above
The important feature in Marshall's welfare definition of economics is
Social Science
Scarcity of Means
Efficient Allocation of Resources
Society
The main and the fundamental aim of Economics is to promote
Wealth
Human Welfare
Economic Welfare
Production
Economic transactions between the consumers and the producers allows _____________in an economy.
Increase
Decrease
Both A & B
Constant
In the absence of a ________,the private businessmen and entrepreneurs have a tendency to exploit common masses and to earn more profits.
Monetary Policy
Fiscal Policy
Tariff Policy
Price Policy
It creates the demand for various commodities.
Consumers
Producers
Investors
None of these
Free economy is also called
Planned economy
Unplanned economy
Open economy
Complex economy
Economics mainly focuses on
Welfare
Choice