(A) Expensive method
(B) Chances of personal bias of the investigators are present
(C) Complex method
(D) All of the above
Tag: Economics Mcqs With Answers
Merits of inductive method of economic theory can be:
(A) Verifies economic facts
(B) Realistic and reasonable method
(C) Scientific method
(D) All of the above
Advantages of deductive method of economic theory can be:
(A) Simple method
(B) Universally applicable
(C) Accurate result
(D) All of the above
Examples of inductive method of economic theory can be:
(A) Engel’s law
(B) Malthusian theory of population
(C) Law of demand
(D) All of the above
When we start with particular facts and then makes general theory, it is called:
(A) Deductive method
(B) Inductive method
(C) Partial equilibrium method
(D) None of the above
Marco economics deals with:
(A) Theory of distribution
(B) Theory of economic growth
(C) Theory of income and employment
(D) All of the above
Price theory deals with:
(A) Factor pricing
(B) Product pricing
(C) Welfare economics
(D) All of the above
A rise in price of goods leads to fall in its quantity demanded. Thus, government showed cheek rise in prices. This statement refers to:
(A) Normative economics
(B) Positive economics
(C) Both Normative and Positive Economics
(D) None of the above