5 Questions
Which Greek word does the term 'Economics' come from?
Oikonomikos
What is the field of social science focused on examining how to allocate limited resources effectively to generate goods and services?
Economics
What represents a fundamental economic challenge, where there exists a disparity between finite resources and essentially limitless desires?
Scarcity
Who is known for the quote 'Economics is an inquiry into the nature and causes of the wealth of nations'?
Adam Smith
What is the task that the ancient Greek word 'Oikonomikos' literally translates to?
The task of managing a household
Test your knowledge on the definition and importance of economics with this quiz. Learn about the origins of economics and its significance in society.
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