1. Which of the following is the basis of the statement ‘Economics is Science’?

(a). Experiments

(b). Relation between cause and effect.

(c). use of deductive and inductive methods for the formation of laws.

(d). All of the above.


  1. Which one of the following theories is generally included under macro economics?

(a). Employment theory

(b). Price theory

(c). Income theory

(d). None of the above


  1. The scope of macro economics was revolutionalized by the opinions of

(a). J. M. Keynes

(b). Adam Smith

(c). J. B. Say

(d). All of them


  1. Which one of the following is a passive factor of production?

(a). Only capital

(b). Only land

(c). Both land and capital

(d). Neither land nor capital


  1. Which of the following makes a major contribution to the revenue of Indian Railway?

(a). Passenger earnings

(b). Goods traffic earnings

(c). Coaching earnings

(d). Sundry earnings


  1. Who among the following is considered the ‘Guardian of the Public Purse’?

(a). Public Account Committee

(b). President

(c). Comptroller and Auditor General

(d). Parliament


  1. In India, Gold Coins were first issued by

(a). Pratiharas

(b). Kushans

(c). Sakas

(d). Indo-Greeks


  1. Which of the following had recommended 6% of G. D. P. on Education?

(a). Review Committee of NPE (1986)

(b). Review Policy on Education (1986)

(c). National Education Policy  (1968)

(d). Kothari Commission (1966)


  1. Who among the following said: “Human Welfare is the subject of Economics”?

(a). Pigou

(b). Marshal

(c). Penson

(d). All of them


  1. Utility means

(a). willingness of a person

(b). usefulness

(c). Harmfulness

(d). Power to satisfy want








  1. (d)
  2. (b)
  3. (a)
  4. (c)
  5. (b)
  6. (d)
  7. (b)
  8. (b)
  9. (d)
  10. (d)