SSC MTS EXAM

SSC

WORLD HISTORY

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
What is economics?
A
the branch of knowledge concerned with the production, consumption, and transfer of food.
B
the branch of knowledge concerned with the production, consumption, and transfer of wealth.
C
the branch of knowledge concerned with the production, consumption, and transfer of services.
D
the branch of knowledge concerned with the production, consumption, and transfer of diseases.
Explanation: 

Detailed explanation-1: -At its core, economics is the branch of knowledge concerned with the production, consumption, and transfer of wealth. If you want to understand why people, firms, and countries behave the way they do – and how they interact with and manage scarce resources – economics is an incredibly useful guide.

Detailed explanation-2: -Economics is the branch of social science that measures the production and distribution and consumption of goods and services and their management. Economy is a general statement about the production, distribution, or trade, and consumption of goods and services by different agents in a given geographical location.

Detailed explanation-3: -Classical economics. Classical economics is often considered the foundation of modern economics. Neo-classical economics. Keynesian economics. Monetarist economics. Austrian economics. Marxist economics. Neo-liberalism/Neo-classical. 08-Jun-2020

There is 1 question to complete.