Question # 1

If a firm increases the ratio of capital to labour, it becomes more

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labour intensive

capital intensive

output intensive

input intensive

Demand and supply forces determine market price

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only in perfect competition

only in monopoly market

in both markets

none of the above

A firm attains equilibrium under monopoly where:

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AR = MR

AC = MC

MR = MC

AR = AC

:It is not possible to separate marginal revenue product of each factor of production:. It was said by:

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Carver

Hobson

Hansen

Hicks

In factor market, which statement is true

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wages are determined by MP

Rent is fixed by landlords

interest rate is determined by Govt.

profit is determined by luck

An increases in demand would cause supply curve to

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shift to the left

shift to the right

change in slope of supply curve

no effect on supply

The submit the plan to the Registrar of Joint Stock Companies along with ______ documents

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Two

Three

Four

Five

When demand is perfectly inelastic, an increase in price will result in

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decrease in total revenue

increase in total revenue

no change in total revenue

decrease in quantity demanded

The concept of quasi rent was given by.

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Ricardo

Adam smith

Alfred Marshall

Robbins

Which one is the non-economic activity.

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Service of a doctor

Morning walk

Service of teacher

Service of an advocate

When the demand of a product rises due to factors except price it will be.

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Extension of demands

Rise of demand

Contraction of demand

Extension of demand

A rise in supply and demand in equal proportion will result in

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increase in equilibrium price and decrease in equilibrium quantity

decreases in equilibrium price and increases in equilibrium quantity

no change in equilibrium price and increases in equilibrium quantity

increases in equilibrium price and no change in equilibrium quantity

It is most suitable for large scale business

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proprietorship

partnership

corporation

cooperative society

the term marginal in economics means

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unimportant

additional

the minimum unit

just barely passing

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

Other things remaining the same, quantity supplied of a commodity increases with rise in price and decreases with fall in price are called

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Law of Supply

Law of Demand

Law of equilibrium

None of these

A bridge will be a

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Private good

Capital goods

Consumer good

Personal good

Limited liability is one of the advantages of

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partnership

sole proprietor

joint stock company

cooperative society

Standard of living of workers depends upon their

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nominal wages

real wages

average product

govt. policy

if X and Y scales are the same a line making 45-degree angle with X-axis has slope

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1/4

1/2

1

constant

Members of business partnership in Pakistan are:

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2 to 20

5 to 20

2 to 25

2 to 3

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