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| Chapter - 1 (Statistics) |
Ques.1) Who is the father of Modern economics ?
ANS. Adam smith
Ques.2) Define economics?
1. ANS. According to Robbins economics is a science that studies human behavior as a relationship between ends and scare means which have alternative uses.
2. According to Adam Smith Economics is an enquiry into the factors that determined the wealth of a country and it’s growth
3. According to Alfred Marshall economics is the study of mankind in the ordinary business of life.
Ques.3) Who is Consumer?
Ans . A Consumer is one who consumer goods and services for the satisfaction of his wants.
Ques.4) Who is producer?
Ans. A producer is one who produces for sell good sell services for the generation income.
QUES.5) Who are service providers ?
Ans. The person who provide services to society to earn money are called service provider Ex. Lawyer, Doctor, Taxi driver etc.
Ques.6) Who are service holder?
Ans. The person who are in job working for some other persons and get paid for it service holder.
Ques. 7) What is economic activities?
Ans. The activity which is related to the use of scare resources is called an economic activity.
Economic activities are classified as under
1.Production 2.consumption 3.Exchange 4.Distribution 5.Investment
Ques.8) What are the Non – economic activities?
Ans. The activity which are under taken for personal satisfaction and not earning money are called Non- economic activity.
Ex. When a teacher teaches his own child.
Ques.9) What is Scarcity?
Ans. If supply is less than demand then the problem of scarcity arises.
Ques.10) What is economic problem? How is it arise
Ans. It is the problem are scare and they have of choice ,it arises because resources alternative uses we cannot escape the problem of allocation limited means to alternative uses.
If resources unlimited then there is no economic problem .
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