#1
Which of the following is a fundamental economic problem?
1 answered
#2
What does GDP stand for in Economics?
1 answered
#3
Which economic system is characterized by private ownership of resources and decentralized decision making?
1 answered
#4
What is the name of the phenomenon where one party's gain in the production or consumption of a good or service comes at the expense of another party?
1 answered
#5
What does the term 'Ceteris Paribus' mean in Economics?
1 answered
#6
In Economics, what does the law of demand state?
1 answered
#7
Which market structure is characterized by many firms selling differentiated products?
1 answered
#8
Which economist is known for his theory of 'invisible hand'?
1 answered
#9
Who introduced the concept of 'marginal utility' in Economics?
1 answered
#10
What is the primary function of the Federal Reserve System in the United States?
1 answered
#11
What is the formula for calculating price elasticity of demand?
1 answered
#12
Who is considered the father of modern economics?
1 answered