ECONOMICS SS1

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Welcome to your ECONOMICS SS1

1. Economics is a ----

2. Economics is defined as science that treats phenomena from the stand point of price by ----

3. All these are economic concepts except

4. A list of wants arranged in their order of priority is ----

5. One of the basic tools for economics analysis is -----

6. The insatiable desire or needs of man to own goods is -----

7. Expressing cost in terms of forgone alternatives is ----

8. Who was regarded as the 'Father of Economics'

9. He wrote a treatise on the topic -----

10. Another name for 'average' of a group of scores is ----

SUBJECTIVE

Complete using the right ending.

1. Economics is defined as a science which studies----- as a ---2---- between ---3--- and scarce ---4---which have ---5--

THEORY

Answer any two of the question

1. Outline the five basic concept of Economics and write short notes on any two of them

2. Define Economics according to these Economists

3.Mention any five basic tools of economic analysis

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