Economics Objective Questions

Study Notes

Economics Objective Questions

"Wealth of Nations" written by Adam Smith marked a significant foundation in economic thought.
Arthur Pigou defined economics as a positive science, influencing modern interpretations of the field.
Adam Smith is acknowledged as the "father of Economics," credited with pioneering economic theories.
The first stage of statistics in English involved the study of errors and their theoretical implications.
Sir Francis Galton is known as the "father of statistics," contributing to foundational statistical methods.
A statistician, also referred to as an enumerator, is responsible for the collection of data.
Data that is collected regularly at intervals is classified as a time series, which is essential for analyzing trends over time.
Branches of statistics include descriptive statistics, which summarize data, and inferential statistics, which make predictions about the population based on sample data.

Questions & Answers

Niruttam Singhanuk was the ruler of Cambodia.
The Frankfurt Treaty was signed in 1871, marking a significant historical event.
Metternich served as the Chancellor of Austria, playing a pivotal role in European politics.
The Lucknow Pact was established in 1916, signifying an agreement between political entities in India.
Patna is the capital of Bihar, a region known for its historical significance.
The Sundarbans are located in West Bengal, famous for its unique mangrove ecosystem and biodiversity.

Description

Test your knowledge of key concepts in economics with this quiz on foundational theories and statistical methods. Explore ideas from influential figures such as Adam Smith and Arthur Pigou, along with essential statistical definitions and applications. Perfect for students looking to reinforce their understanding of economic principles.