Practice Classical Theory (Say’s Law) - 2.2.7.1 | Chapter 2: Theory of Income and Employment | ICSE Class 12 Economics
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Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

What is Say's Law?

💡 Hint: Think about how goods influence purchasing behavior.

Question 2

Easy

Define Full Employment.

💡 Hint: Consider a scenario where no one is seeking work.

Practice 4 more questions and get performance evaluation

Interactive Quizzes

Engage in quick quizzes to reinforce what you've learned and check your comprehension.

Question 1

What does Say's Law state?

  • Supply creates its own demand
  • Demand creates its own supply
  • Supply and demand are unrelated

💡 Hint: Focus on the relationship between supply and demand.

Question 2

True or False: According to Classical Theory, the government should always intervene to maintain full employment.

  • True
  • False

💡 Hint: Recall the principles of Classical Theory.

Solve 1 more question and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

Analyze a historical economic event that illustrates the failure of Say's Law. What were the contributing factors?

💡 Hint: Consider the 1930s and shifts in economic activity.

Question 2

In your opinion, can Say's Law apply in the modern economy? Justify your reasoning.

💡 Hint: Think about factors of demand that weren't present in Classical times.

Challenge and get performance evaluation