New Economics Mid term test for JSS1

Leave a Comment / By / October 25, 2023

Welcome to your New Economics Mid term test for JSS1

1. Economics is a .......... Science.

2. Ceteris Paribus" is a Latin word which means

3. Who was regarded as the "Father of Economics".

4. Adam Smith put up a" treatise" titled ......

5. Two basic concepts or elements of Economics are.,..... and .....

6. The limited supply of resources which are used for the satisfaction of unlimited wants is called...

7. A system of choosing or selecting one out of Al number of alternatives is called........

8. Two types of office I know are .,....and ......

9. Those insatiable desire or needs of man is called.....

A list of wants arranged in the order of their relative importance is called ........

Subjective: Read carefully and answer the questions that follows

Expression of cost in terms of alternative forgone is called ............

2. Economics is a social science because. ..........

The word" ends"means............

4. Limited supply of resources is what we refer to in Economics as ...........

5 . 0ne scientific method adopted by Economics as a science is .......

Theory:From the questions choose only two to answer

1. Define Economics according to professor Lionel Robbins.

2. Two importance of scale of preference I know are .

3. Construct Ikenna's scale of preference on these needs: Having only 10000 shoes-4000,shirt 3500,Belt. 1500 , fan -10000, Cap-2000.

Leave a Reply

Your email address will not be published. Required fields are marked *