[{"id":180580,"question":"According to Alfred Marshall, Economics should be taken as:","choices":[{"text":"Positive economics","value":"A"},{"text":"Normative economics","value":"B"},{"text":"Welfare economics","value":"C"},{"text":"Applied economics","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":180578,"question":"Scope of economics is defined as:","choices":[{"text":"Individual and aggregate economic behaviour of the people.","value":"A"},{"text":"Subject matter of economics.","value":"B"},{"text":"Welfare Economics.","value":"C"},{"text":"All of the abpove","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":180577,"question":"Economic problems arises because of.","choices":[{"text":"Unlimited wants.","value":"A"},{"text":"Scarcity of resources.","value":"B"},{"text":"Alternative use of resources.","value":"C"},{"text":"All of the above","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":180575,"question":"Which of the following is the subject matter of Economics.","choices":[{"text":"Optimum use of limited resources for the satisfaction of unlimited human wants.","value":"A"},{"text":"Economic problems of the developing countries.","value":"B"},{"text":"Labour problems.","value":"C"},{"text":"Balance of payment problems.","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":180571,"question":"Prof. Robins wrote a book in 1931 entitled.","choices":[{"text":"General Theory of employment. Interest and money.","value":"A"},{"text":"An inquiry into the nature and causes of wealth of nations.","value":"B"},{"text":"Principle of economics.","value":"C"},{"text":"Nature and Significance of economic science.","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":180567,"question":"One of the following is not a part of macro economics.","choices":[{"text":"Public finance","value":"A"},{"text":"International trade.","value":"B"},{"text":"Consumer behaviour.","value":"C"},{"text":"National income.","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":180565,"question":"One of the following is not studied in Micro economics.","choices":[{"text":"Equilibrium to the firm","value":"A"},{"text":"Distribution of rewards to factors of productions","value":"B"},{"text":"Banking system","value":"C"},{"text":"Market equilibrium","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":180562,"question":"Which one is not doing an economic activity.","choices":[{"text":"One who is offering prayers.","value":"A"},{"text":"One who works for wage.","value":"B"},{"text":"One who rents out his property .","value":"C"},{"text":"One who is an employee of Government","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":180559,"question":"Who was the exponent of welfare economics.","choices":[{"text":"Alfred Marshall.","value":"A"},{"text":"Adam smith.","value":"B"},{"text":"Lionel Robbins","value":"C"},{"text":"J.M. Keynes.","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":180557,"question":"Economics laws are:","choices":[{"text":"Statements of tendencies in economic behaviour","value":"A"},{"text":"Unrealistic to deal with real economic problems.","value":"B"},{"text":"Absolute and certain like the laws of physical science","value":"C"},{"text":"Used to forecast the growth rate of an economy.","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":180553,"question":"Economics is a science which studies.","choices":[{"text":"Distribution of income","value":"A"},{"text":"Optimum use of scarce resources.","value":"B"},{"text":"Production of wealth only","value":"C"},{"text":"Exchange of wealth only","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":133519,"question":"Market demand curve is a summation of all individual demand curves as","choices":[{"text":"Vertical","value":"A"},{"text":"horizontal","value":"B"},{"text":"mathematical","value":"C"},{"text":"local","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":133518,"question":"If demand has unit price elasticity, a change in price causes","choices":[{"text":"increase in total revenue","value":"A"},{"text":"decrease in total revenue","value":"B"},{"text":"no change in total revenue","value":"C"},{"text":"indeterminate","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":133517,"question":"To say that two goods are unrelated, their cross price elasticity of demand should be","choices":[{"text":"less than 0","value":"A"},{"text":"greater than 0","value":"B"},{"text":"equal to 0","value":"C"},{"text":"1","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":133516,"question":"Which one is not determinant of demand","choices":[{"text":"tastes","value":"A"},{"text":"income","value":"B"},{"text":"method of production","value":"C"},{"text":"price","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":133515,"question":"If price elasticity of demand is very low, the commodity is","choices":[{"text":"necessity","value":"A"},{"text":"luxury","value":"B"},{"text":"substitute","value":"C"},{"text":"not available","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":133514,"question":"Cross elasticity of Suzuki and Honda cars will be","choices":[{"text":"Positive","value":"A"},{"text":"negative","value":"B"},{"text":"zero","value":"C"},{"text":"infinite","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":133513,"question":"A horizontal demand curve has a price elasticity of","choices":[{"text":"zero","value":"A"},{"text":"infinity","value":"B"},{"text":"1","value":"C"},{"text":"variable","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":133512,"question":"A seller can increase his sales revenue by charging a lower price, if the demand has","choices":[{"text":"e &lt; 1","value":"A"},{"text":"e = 1","value":"B"},{"text":"e &gt; 1","value":"C"},{"text":"e = 0","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":133511,"question":"<div>Which one can cause a change in demand</div>","choices":[{"text":"change in income","value":"A"},{"text":"change in supply","value":"B"},{"text":"change in tastes","value":"C"},{"text":"a and c of above","value":"D"},{"value":"E"}],"correctAnswer":4}]