Adaptive Practice
Introduction to Economics
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Question 1 of 10
⏱ 0:30
Easy
What is the primary concern of economics?
Easy
Which of the following is NOT a factor of production?
Medium
What does the term 'opportunity cost' refer to?
Easy
Which of the following best describes 'microeconomics'?
Easy
In the Indian context, which sector is primarily associated with agriculture?
Medium
Which of the following statements is TRUE about 'scarcity'?
Easy
What is the main difference between 'goods' and 'services'?
Medium
Which economic problem arises due to unlimited wants and limited resources?
Hard
If a farmer in Punjab decides to use his land to grow wheat instead of rice, the opportunity cost is:
Hard
Which of the following is an example of a normative economic statement?