SS1 Economics 2025b first term

Welcome to your SS1 Economics 2025b first term

1. Economics is a .....science

2. A.C.Pigou defined Economics as the science of ........

3. The insatiable desire or need by human beings to own goods and services is called.........

4. When there is limited supply of goods there is ........

5. One of these is a system of choosing or selecting one unit out of a number of alternatives.

6. Another name for opportunity cost is ......

7. The father of Economics is.........

8. He wrote a treatise on .......

9. A subject that studies human behaviour as a relationship between ends and scarce means is called .......

10. One out of these is a basic concept of Economics

Theory:Answer all.

1. Define Economics according to professor H.J.Davenport

2. State any three reasons why we study Economics.

3.Write short notes on the basic concepts of Economics

4. List the six Scientific methods used by Economists in problem solving.

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