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Definition of Economics Quiz

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Questions and Answers

Which criticism is directed towards the first definition of economics as the science of personal interest?

It does not account for exchange between two persons

It is not a disciplined idea

It focuses on utilitarian philosophy (correct)

It does not consider non-material services

What is the main criticism of the second definition of economics as the science of wealth?

It does not account for exchange between two persons

It excludes non-material services from its definition (correct)

It is not a disciplined idea

It does not consider personal interest

According to thinker Birro, what does he believe economics is the science of?

Material money

Wealth

Exchange between two persons (correct)

Personal interest

Why does the second group criticize the idea that donation is not an economic act?

<p>Because it does not account for exchange between two persons</p> Signup and view all the answers

What force is stated to be behind all behavior according to the first definition of economics?

<p>Creation by God Almighty</p> Signup and view all the answers

Definition of Economics Quiz

Choose a study mode

Podcast

Questions and Answers

Which criticism is directed towards the first definition of economics as the science of personal interest?

What is the main criticism of the second definition of economics as the science of wealth?

According to thinker Birro, what does he believe economics is the science of?

Why does the second group criticize the idea that donation is not an economic act?

What force is stated to be behind all behavior according to the first definition of economics?

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