Growth definition by Samuelson has
An element of time in its
Touches about economic growth and welfare concepts
Talks about the problem of scarcity of resources
All the above
Inflation is
A decrease in the over all price level
An increase in the over all price level
An increase in the over all level of economic activity
A decrease in the over all level of economic activity
Aggregate supply is the total amount
Of a labour supplied by all house holds
Of goods and services produced in an economy
Produced by the government
Of products produced by a given industry
Scarcity problem arises because our resources are
Unlimited
Limited
Sufficient
Vast
Economics is the study of
Production technology
Consumption decision
How society decides what, how and far whom to produce
The best way to run society
Micro economics is not concerned with the behaviour of
Industries
Aggregate demand
Firms
Consumers
Human wants or desires are
Resource and Allocated
Scarce
Positive economics is based on
Cause and effect of facts
Ethics
Value judgements
All of the above
Economic problem arises because of
Abundance of resources
Scarcity of resources
Alternative use of resources
Unlimited resources
