Economic laws are
Statement of tendencies
precise ideas
always scientifically tested
none of these
State whether economics is
positive science only
normative
a science but not art
can be a science or an art depending on for what purpose it is used.
In deductive method, logic process from
particular to general
particular to the whole
general to particular
whole to the particular
Micro economics deals with
space studies
community studies
economy study
individual economic behavior
Positive economics deals with all except
facts
data
figures
stories
The first authentic book which compiled and systematically analyzed economics is
wealth of nations
principles of economics
general theory of employment
Father of modern eocnomics.
Amartya Sen
J.M. Keynes
Samuelson
Lional Robbins
The book gave a detailed assessment of great depression
macro economics
General theory of employment interest and money.
Great depression happened in the year
1920's
1930's
1940's
1950's
Welfare definition was formulated by ________
Adam Smith
Keynes
Marshall
