Question # 1

The wage which is paid in cash is known as.

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Real wage

Nominal wage

Excess wage

Low wage

Marginal revenue is always less than price at all level of output in

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perfect competition

monopoly

both a and b

none of the above

When a competitive firm achieves long run equilibrium then

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P= MC

MR = MC

P = ATC

all of the above

A person who contributes funds in partnership but does not take active part in management of business is called

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sleeping partner

helping partner

temporary partner

inactive partner

When a competitive firm faces loss the slop of its MR curve is:

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Negative

Positive

Zero

Unity

How many types of markets according to time

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3

4

5

6

Efficiency of land can be promoted by.

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Means of communication

Fertility of land

Climate condition

Quality of other factors

The minimum wage is an example of

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price floor

price ceiling

equilibrium wage

efficiency of labour

The law of variable proportions was presented by.

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David Ricords

Alfred Marshall

W.J.L. Ryan

Pareto

Productivity of capital depends upon

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quality of labour

quality of raw materials

quality of management

all of the above

Which one is the non-economic activity.

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Service of a doctor

Morning walk

Service of teacher

Service of an advocate

Economics is a science which studies.

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Distribution of income

Optimum use of scarce resources.

Production of wealth only

Exchange of wealth only

Efficiency of labour is not affected by

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attitude of worker

attitude of employer

attitude of wife/husband

all affect

Who was the exponent of macro economics in recent times.

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Adam Smith

J.M. Keynes

Marshall

Maithus

Elasticity of a demand for product will be greater then unity if, with a fall in its price, total expenditure of consumer.

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Increase

Falls

Remains the same

None of the three

Mobility of labour

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increases efficiency of labour

decreases wages of labour

increases division of labour

a and c of above

Gross profit includes

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monopoly profit

pure profit

windfall profit

all of the above

Total utility is maximised when.

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Marginal utility is zero

Marginal utility falls

Marginal utility rises

Non of the above

A public corporation comes into existence by means

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registration under the Companies Act

Act of parliament

decision by the shareholders

registration with the Stock Exchange

During a particular year farmers experienced a dry weather, if all other factors remain constant, farmers supply curve for wheat will shift to

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rightward

leftward

downward

no direction

A public limited company is run by

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board of governors

board of managers

board of advisor's

board of directors

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