30 questions · timed · auto-graded
| a) | Innovation theory | 1) | Clark |
| b) | Dynamic theory | 2) | Schumpeter |
| c) | Risk bearing theory | 3) | H.Knight |
| d) | Uncertainty bearing theory | 4) | Hawley |
| a) | Gross profit | 1) | Total revenue - Total cost | |
| b) | Net profi | 2) | Gross profit - Implicit cost | |
| c) | Normal profit | 3) | Minimum expected return | |
| d) | Super normal profit | 4) | Actual profit - Normal profit | |
| a) | Capital is the result of saving | N.W. Senior | |
| b) | Wage is the residual portion | J.S. Mill | |
| c) | Profit is the reward for risk 'taking' | Hawley | |
| d) | Interest is the reward for partingwith liquidity | Keynes | |
| a) | The transaction motive | Mt=f(y) | |
| b) | The precautionary motive | Mp=f(y) | |
| c) | The speculative motive | Ms=f(i) | |
| d) | Total demand for money | Mt+Mp | |
| a) | Rent | Capital | |
| b) | Wages | Labour | |
| c) | Interest | Organisation | |
| d) | Profit | Land |
| a) | Time preference theory | John Rae | |
| b) | Loanable funds theory | Irving fisher | |
| c) | Dynamic theory | Keynes | |
| d) | Wage fund theory | J.S. Mill | |