Economics
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Questions and Answers

Which Greek word does the term 'Economics' come from?

  • Cavite
  • Oikonomikos (correct)
  • Economia
  • Philippines
  • What is the field of social science focused on examining how to allocate limited resources effectively to generate goods and services?

  • Cavite
  • Oikonomikos
  • Economics (correct)
  • Philippines
  • What represents a fundamental economic challenge, where there exists a disparity between finite resources and essentially limitless desires?

  • Economics
  • Philippines
  • Scarcity (correct)
  • Oikonomikos
  • Who is known for the quote 'Economics is an inquiry into the nature and causes of the wealth of nations'?

    <p>Adam Smith</p> Signup and view all the answers

    What is the task that the ancient Greek word 'Oikonomikos' literally translates to?

    <p>The task of managing a household</p> Signup and view all the answers

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