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Father of Economics Quiz

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Questions and Answers

In economics, what does 'father' represent?

Monopoly

Opportunity cost

Production (correct)

Consumption

Which term is often referred to as the 'father' in economic theory?

Consumer

Labor

Producer (correct)

Entrepreneur

What is the name of father in the economy?

Scarcity

Equilibrium

Demand

Supply (correct)

What is inflation?

A general increase in prices and fall in the purchasing value of money Signup and view all the answers

What impact does inflation have on consumers?

It erodes the purchasing power of consumers Signup and view all the answers

Which measure is commonly used to track inflation?

Consumer Price Index (CPI) Signup and view all the answers

Father of Economics Quiz

Choose a study mode

Podcast

Questions and Answers

In economics, what does 'father' represent?

Which term is often referred to as the 'father' in economic theory?

What is the name of father in the economy?

What is inflation?

What impact does inflation have on consumers?

Which measure is commonly used to track inflation?

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