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

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