Question # 1

All the following are U-shape except

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AVC

AFC

AC

MC

An important factor which promotes large scale production is:

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Extant of market

Revolutionary changes in social life

Culture and civilization

All the three

Productivity of land can be raised by

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decreasing farm size

intensive cultivation

better marketing

increasing money supply

A labourer resigns from service to start his own business. what type of mobility will it be.

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Vertical mobilty

Occupational mobility

Horizontal mobility

Social mobility

Assumptions of a law are called:

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Constant

Parameters

Variables

Dependent variable

Economic development of a country requires

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skilled lobour

diplomacy

abundant natural resources

a and c of aboce

Marginal product curve intersects average product curve when AP curve is

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minimum

maximum

rising

falling

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

q = 4 + 2P it is a functional equation of.

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Demand

Supply

Equilibrium of demand as supply

None of the three

The utility of an additional unit of a product is

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Law of demand

Law of substitution

Law of supply

Law of diminishing marginal utility

The good which are used to produce more goods are.``

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Social goods

Capital goods

Consumer goods

Public goods

Diminishing marginal utility is the basis of

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law of supply

law of demand

laws of returns

none of the above

According to Keynes interest is a payment for

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consumer's preference

producer's preference

liquidity preference

state bank's preference

The supply of land is fixed whereas its Demand is increase day by day, the rent Produced in this way is:

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Differential rent

Scarcity rent

Quasi rent

Economic rent

the term marginal in economics means

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unimportant

additional

the minimum unit

just barely passing

Profit is maximum when

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distance between TR and TC is maximum

distance between AR and AC is maximum

distance between MR and MC is maximum

distance between MR and AR is maximum

Supply of a commodity means

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willingness to sell a certain quantity

physical stocks available

planned production

total production in a given period

If equilibrium price rises but equilibrium quantity is unchanged, the cause is

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supply and demand both increase equally

supply and demand decrease equally

supply curve is vertical and demand increases

supply increases and demand is same

Which of the following is one of the assumptions of perfect competition.

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few buyers and few sellers

many buyers and few sellers

many buyers and many sellers

all sellers and buyers are honest

Every factor of production gets reward equal to

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value of average product

value of marginal product

value of total product

total revenue

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