1. Alfred Marshall published his book,�___�

A) Principles of Accounting
B) Principles of Management
C) Principles of Business Environment and Entrepreneurship
D) Principles of Economics



2. Who of the following referred â??economicsâ?? as the science of wealth?

A) Welsh
B) Walker
C) George Bernard Shaw
D) Alfred Marshall



3. The â??meansâ? available for satisfaction of wants are ____

A) Sufficient
B) Limited
C) Either (A) or (B)
D) Unlimited



4. Arrange the following in proper from: Stages as economics developed as a subject:I. Material Welfare DefinitionII. Wealth DefinitionIII. Development and Growth DefinitionIV. Scarcity and Choice Definition

A) II, I, IV, III
B) I, II, III, IV
C) IV, III, II, I
D) II, III, I, IV



5. Scarcity is a situation in which___

A) Wants exceed the resources available to satisfy them
B) something is being
C) people are poor
D) None of above