sector d) All the above - - Introduction to Macro Economics . Identify the economic system where only private ownership of production exists. a) Capitalist Economy b) Socialist Economy c) Globalist Economy d) Mixed Economy . Economic system representing equality in distribution is .
a) Capitalism b) Globalism c) Mixedism d) Socialism . Who is referred as ‘Father of Capitalism’? a) Adam Smith b) Karl Marx c) Thackeray d) J M Keynes . The country following Capitalism is .
a) Russia b) America c) India d) China . Identify The Father of Socialism. a) J M Keynes b) Karl Marx c) Adam Smith d) Samuelson . An economic system where the economic activities of a nation are done both by the private and the public sectors together is termed .
a) Capitalist Economy b) Socialist Economy c) Globalist Economy d) Mixed Economy . Quantity of a commodity measured at a point of time is termed as . a)production b) stock c) variable d) flow . Identify the flow variable.
a) money supply b) assets c) income d) foreign exchange reserves . Identify the sectors of a Two Sector Model. a) Households and Firms b) Private and Public c) Internal and External d) Firms and Government . The Circular Flow Model that represents an open Economy.
a) Two Sector Model b) Three Sector Model c) Four Sector Model d) All the above Answers d c b b d b c d c d a d a b b d b c a c - - Introduction to Macro Economics Part - B Answer the following questions in one or two sentences . Define Macro Economics. . Define the term ‘Inflation’.
. What is meant by an ‘Economy’? . Classify the economies based on the status of development.
. What do you mean by Capitalism? . Define ‘Economic Model’.
. ‘Circular Flow of Income’ - Define. Part - C Answer the following questions in about