Human wants are_______________?

A. Always fixed
B. Limited
C. Unlimited
D. Likely to decrease over time

Resources in an economy ?

A. Are always found
B. Can never decease
C. Always increase over time
D. Are limited at any moment in time

According to Emerson: “Want is a growing giant whom the coat of Have was never large enough to cover.” According to economists, “Want” exceeds “Have” because:

A. People are greedy
B. Productive resources are limited
C. Human beings are inherently insecure
D. People are irrational

When entering a building, Asim diverts his path to go through an open door rather than make the physical effort to open the closed door that is directly in his path. This is an example of:

A. Irrational behavior
B. A lazy person
C. Marginal benefit-marginal cost analysis
D. Programmed learning

In economics, the pleasure, happiness, or satisfaction received from a product is called ______?

A. Marginal cost
B. Rational outcome
C. Status fulfillment
D. Utility

When economists say that people act rationally in their self interest, they mean that individuals _______?

A. Look for and pursue opportunities to increase their utility
B. Generally disregard the interests of others
C. Are mainly creatures of habit
D. Are unpredictable

One percentage decrease in unemployment is associated with two percentage points of additional growth in real gdp is called?

A. Okun’s law
B. Classical theory
C. Consumer price index
D. None of the above

Who is called the father of Economics?

A. J.p kense
B. David ricordo
C. Adam smith
D. Mankew

In defining social sciences which of the following phrases is the most appropriate?

A. Rules for behavior
B. Social philosophy
C. Systematic and methodical study
D. Study of individual behavior

A detailed investigation of a single social unit in order to study it in depth is______________?

A. A case studies
B. Participant observation
C. Sample survey
D. Laboratory experiment