The term economics was originally known as “political economy”. This term evolved from the French Mercantilist usage of économie politique, which expanded the notion of economy from the ancient Greek concept of household management to the national level, as the public administration of state affairs.
We are creating a series of MCQs on Economics, which can be helpful in practicing for any exam. Be it the exam of 11th or 12th class or any competitive exam.
Let’s start the Multi Choice Questions
01) The word “Economics” has been derived from “Oikonomia”. The word “Oikonomia” is taken from which of the following language?
A) Latin
B) French
C) Italian
D) Greek
Correct Answer is option “D”
02) Who was the founder of Economics?
A) Alfred Marshall
B) Adam Smith
C) John Maynard Keynes
D) David Ricardo
Correct Answer is option “B”
03) Adam Smith was an 18th-century philosopher belongs to wihich of the following country?
A) Scotland
B) Germany
C) Rome
D) Russia
Correct answer is Option “A”
04) Adam Smith is most famous for his book, “The Wealth of Nations.” which is also studied by the philosophers, writers, and economists of 20th-century. The book was written in which year?
A) 1976
B) 1876
C) 1776
D) 1676
Correct answer is Option “C”
05) Who was known as the father of Economics?
A) David Ricardo
B) Alfred Marshall
C) John Maynard Keynes
D) Adam Smith
Correct answer is Option “D”
06) Who is known as the mother of Economics?
A) Anne-Robert-Jacques Turgot
B) Barbara Bergmann
C) Silvia Berger
D) Lourdes Benería
Correct answer is option “A”
07) who is known as Mother Teresa of Economics from the following?
A) John Stuart Mill
B) Alfred Marshall
C) Amartya Sen
D) Karl Marx
Correct answer is option “C”
08) who is known as the father of Indian economics from the following?
A) Amartya Sen
B) Chanakya
C) Manmohan Singh
D) Abhijit Banerjee
Correct answer is option “B”
09) Who received the Nobel Prize in Economic Sciences in the year 1998? Who is known for welfare economics and poverty studies?
A) Raghuram Rajan
B) Manmohan Singh
C) Abhijit Banerjee
D) Amartya Sen
Correct answer is option “D”
10) Who from the following termed economics as the “science of wealth”? And also said that the economy of a nation depends on the wealth generated through the goods and services.
A) Alfred Marshall
B) Adam Smith
C) Lionel Robbins
D) Paul Samuelson
Correct answer is option “B”
All the best for better future