More Classes
5th Class
6th Class
7th Class
8th Class
9th Class
10th Class
11th Class
12th Class
NAT I
NAT II
CSS
IQ
General Knowledge
MDCAT
ECAT
GAT General
GAT Subject
Other Links
Go to Home
Online Tests
Economics Ics Part 1 English Medium Online Test MCQs With Answers
Question # 1
Which of the following is a demand function?
Choose an answer
Q + 4P = 20
Q = 35 + 3P
Q - 2P - 15 =0
5P - Q = 4
Previous
Skip
Next
Question # 2
Estimate of Pakistan's population for 2013 is
Choose an answer
185 million
285 million
385 million
485 million
Previous
Skip
Next
Question # 3
If a consumer moves upward along an indifference curve, his total utility
Choose an answer
falls to zero
does not change
increases
decreases
Previous
Skip
Next
Question # 4
The law of demand will not be apply in case of
Choose an answer
Inferior goods
Superior goods
Normal goods
Non of them
Previous
Skip
Next
Question # 5
The following are causes of shift in demand EXCEPT the one
Choose an answer
change in income
change in price
change in fashion
change in prices of substitutes
Previous
Skip
Next
Question # 6
Wealth of nations
Choose an answer
is another name for united nations
is name of a book
indicates total wealth of rich countries
contains formulas to earn wealth
Previous
Skip
Next
Question # 7
One of the following is not assumption of the marginal productivity theory.
Choose an answer
All factors of production are present substitutes of each other.
Law of increasing return applies in the production process.
There is perfect mobility of factor of production
Units of each factors of production are identical
Previous
Skip
Next
Question # 8
Land means nature resources which are available.
Choose an answer
On the soil
Above the soil
Below the soil
All the above
Previous
Skip
Next
Question # 9
One or more persons living together and having a common budget is called
Choose an answer
union
organisation
household
house members
Previous
Skip
Next
Question # 10
Mobility of labour can be promoted by.
Choose an answer
Health
Better rewards
Immigration
Information media
Previous
Skip
Next
Question # 11
These are kinds of capital EXCEPT
Choose an answer
fixed capital
expensive capital
working capital
real capital
Previous
Skip
Next
Question # 12
Economic principle are also called
Choose an answer
economic law
economic theory
economic model
all of the above
Previous
Skip
Next
Question # 13
The supply of labour is based on the trade off between leisure and
Choose an answer
wealth
work
wages
price of product
Previous
Skip
Next
Question # 14
Other things equal, if a good has more substitutes, its price elasticty of demand is
Choose an answer
larger
smaller
zero
unity
Previous
Skip
Next
Question # 15
The shape of marginal revenue product (MRP) curve is
Choose an answer
Inverted U
Steeper
Flatter
Positive
Previous
Skip
Next
Question # 16
The concept of quasi rent was given by.
Choose an answer
Ricardo
Adam smith
Alfred Marshall
Robbins
Previous
Skip
Next
Question # 17
if X and Y scales are the same a line making 45-degree angle with X-axis has slope
Choose an answer
1/4
1/2
1
constant
Previous
Skip
Next
Question # 18
Joint stock company is manged and run by a
Choose an answer
Board of Directors
Shareholders
Accountant
None of these
Previous
Skip
Next
Question # 19
Normally MR curve intersects MC curve at points
Choose an answer
1
2
3
4
Previous
Skip
Next
Question # 20
Supply curve will shift when
Choose an answer
price falls
price rises
demand shifts
technology changes
Previous
Skip
Next
Question # 21
Which one is not determinant of demand
Choose an answer
tastes
income
method of production
price
Previous
Skip
Next
Back