SSC MCQ Question Ans. Introduction to Economics

SSC MCQ Question Ans. Introduction to Economics. Introduction to Economics. From birth till death, a man struggles to survive relentlessly. All throughout the life man proceeds to overcome various obstacles. The subject, economics, helps in numerous ways to overcome these problems or obstacles on man’s path to tread upon. Economics plays a very significant role to obtain prosperity for human, society or country. To know and learn about economics is,  therefore,  important.   In this chapter, the origin and development of economics; the major economic problems; the definition and principles of economics, the circular flow of income and the different economic systems have been discussed briefly.

SSC MCQ Question Ans. Introduction to Economics

Today the economics we study was not so organized in earlier times. The way of living of humans was much simpler in ancient societies. Food, clothing, and habitation-these, only, were the basic needs of humans. The modes of exchanging goods were very limited. Basically, physical labor was the only means of production. During the time of the prophet Moses, that means, at around 2500 BC, in Hebrew civilization, in religious scriptures and in the books of philosophy, there have been some scattered discussions about economics. Income, religion, morality, philosophy, and economics were discussed all together at that time. There was no individual existence of economics as a discipline.

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