Question # 1

Which one is not doing an economic activity.

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One who is offering prayers.

One who works for wage.

One who rents out his property .

One who is an employee of Government

At the point of equilibrium of firm under perfect competition

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MC curve must be rising

MC curve must be falling

MR curve must be rising

MR curve must be falling

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

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Demand

Supply

Equilibrium of demand as supply

None of the three

3x²=0 is an equation

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linear

quadratic

general

first degree

A firm should shut down in the short run if it is not covering its

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variable cost

fixed cost

total cost

explicit cost

Labour intensive technique of production means.

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More labour and less capital

Less labour and more capital

More labour and no land

More land and no labour

If the government supplies a product at a price less than the equilibrium price, it will create:

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Shortage

Surlius

Non of the two

Equilibrium quantity

Production in economic means

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factors of production

doing some job

output of goods

profit

The minimum wage is an example of

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price floor

price ceiling

equilibrium wage

efficiency of labour

The set of skills and abilities that workers possess for production of goods and serves is

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motivation

wealth

human capital

natural talent

Which of the following is a producer good

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pen

cycle

mobile phone

hammer

When the percentage change in quantity demanded is greater than the percentage change in price, elasticity of demand for the product will be.

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Equal to unity

Less than unity

Greater than unity

Equal to zero

Law of substitution is another name for

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law of diminishing MU

law of equi-MU

law of demand

law of satisfaction

How many merits of organization in text book

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7

8

9

10

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

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

Land means nature resources which are available.

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On the soil

Above the soil

Below the soil

All the above

Which of the following is a demand function?

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Q + 4P = 20

Q = 35 + 3P

Q - 2P - 15 =0

5P - Q = 4

Constant are represented by symbol

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C

V

P

U

Validity of economics theories can never be proved with 100 percent certainty, because

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ceteris paribus clause

limited number of observation is possible

very large number of economic theories proved false in the past

b and c

Which is a condition for existence of monopoly

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big size

identical product

absence of government taxes

no close substitute

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