Question # 1

x = f (y).

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x is a dependent variable.

y is a dependent variables

x and y are dependents variables.

None of the three

Factors of production are recently termed as.

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Output

Outly

Input

None of them

The number of goods and services which one unit of a product can command in exchange for it is its.

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Value of money

Value in exchange

Price

Utility

Total profit = ?

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Per unit profit x output

Per unit profit x input

Per unit profit + output

per unit profit - input

Capital formation lakes place when

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people save a part of their incomes

saved amount is invested

investors expect good return

all of the three

A product which has value price in the market has.

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Utility

Scarcity

Transferability

All the three

One of the cause of low wage rate in Pakistan is:

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Population explosion

Labour policy

Lack of monility of labour

Lack of natural resources

All non materials products which can satisfy human wants are called.

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Economic goods

Services

Non-economics goods

Services

In case of perfect competition in the market

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marginal revenue curve always slopes upward

marginal revenue curve always slopes downward

marginal revenue is always equal to average revenue

marginal revenue is always less than to average revenue

Who criticized economics as "dismal Science".

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Alfred Marshall

Lionel Robbins

Carlyle and Ruskin

J.M. Keynes.

Every country should have population

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minimum

constant

optimum

fast growing

The shape of marginal revenue product (MRP) curve is

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Inverted U

Steeper

Flatter

Positive

Different prices are charged from different customers of the same product. This is called.

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Short run price

Price instability

Price discrimination

Long run price

The capital which loses it from whenever it is used, is

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Circulating capital

Fixed capital

Money capital

Real capital

In mathematics which letters at the end of alphabet are used to represent variables

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(u,v,w,x,y,z)

(a,b.c.d.e.f.g)

(a.b.c.u.v.w)

((x,y,z,a,b,c)

Only those goods are priced in the market which have:

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Utility

Sacrcity

Transferability

All of the above

Marshall wrote the book

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Introduction to economics

Principles of economics

Classical economics

Micro economics theory

the term marginal in economics means

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unimportant

additional

the minimum unit

just barely passing

Scarcity means

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non availability of goods

high price of goods

less supply than demand

high profit of the firms

Rice mill is a :

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Fixed capital

Floating capital

Sunk capital

None of the three

When marginal is negative, it must be true that

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the average is negative

the average is decreasing

the total is negative

the total is decreasing

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