Question # 1

When business expands beyond its optimum level what type of economics will it be getting.

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Diseconomies

Internal economies

External economies

Maanagerial economics

How many kinds of Function

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2

3

4

5

If elasticity of supply is greater than one. supply curve will be

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horizontal

vertical

passing through origin

touching y-axis

One of the following is fixed capital.

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Raw material

Defence saving certificate

Machinery

None f the three

A firm decides to shut down production temporarily when

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MC start rising

AC stat rising

price = AC

price falls below AVC

Price determined in case of a perishable good will be.

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Normal price

Market price

Short run price

Long run price

Malaysia enjoys monopoly on rubber, but which kind of monopoluit is.

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Natural monopoly

Social monopoly

Legal monopoly

Implied monopoly

Elasticity of demand in case of minor change in price and quantity demand will be .

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Income elasticity of demand

Cross elasticity of demand

Point elasticity of demand

Arc elasticity of demand

The necessary condition for equilibrium position of a firm is

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MC > MR

MC > price

MC = MR

MC = AC

The purchasing power of money alongwith the fringe benefits for a labour will detemine his/her:

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Nominal wage

Gross wage

Real wage

Net wage

A factory is an example of

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capital

natural resources

entrepreneurship

none of the above

Q_d = 12 - 2P

Q_s= -4 + 6P in this market model, P and Q are respectively.

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2 & 8

4 & 8

4 & 10

None of the three

Long run average cost curve is :

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U shaped

L shaped

Dish shaped

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

Adam smith was a

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President of France

a modern economist

good sports man

classical economist

A joint stock company has

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limited liability

unlimited liability

limited capital

unlimited capital

Father of the political economy

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Adam smith

Malthus

Marshall

Samuelson

Law of equi marginal utility provides basis for.

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Equal distribution of wealth

Economy in taxation

Law of diminishing returns

Law of constant returns

The method to measure the elasticity of demand is :

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Percentage method

Total outlay approach

Geometric approch

All the three

Optimum population is defined by the economists as the level of population at which

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death rate equals birth rate

labour productivity is maximized

country achieves food self sufficiency

national income per head is maximesed

The price of an non-economic good is:

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Very low

Very high

Zero

Negative

Underemployment of labour means

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a worker does not get full time job

a worker is not happy with present job

a person does not get job according to his qualification

a and c of above

When there is big change in quantity supplied resulting from a minor change inits price,its elasticity of supply will be.

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Equal to unity

Less than unity

Equal to zero

Greater than unity

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