Question # 1

For production of goods we need factors

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few

2

4

unlimited

The kind of market is undesirable

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general market

specialized market

local market

monopoly market

Wealth of Nations was written by

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Adam Smith

Malthus

Marshall

Newton

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

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Two

Three

Four

Five

Perfectly inelastic supply curve is:

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Parallel to vertical axis

Parallel to horizontal axis

Rises upward to the right

Falls downward to the right

The elasticity f demand in case of substitute is called.

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Income elasticity of demand

Priceelasticity of demand

Crosselasticity of demand

None of the three

Commercial economics are a pat of:

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Internal economics

External economics

Economies of scale

None of the three

Saqib graduated one month ago. He is still unemployed. His unemployment is

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structural

frictional

seasonal

personal

Market Price of Perishable

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Commodities

Utility

Consumer

None of these

To reduce unemployment the govt. may

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reduce money supply

reduce mobility of labour

reduce minimum wages

increase government spending

A firm attains equilibrium under monopoly where:

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AR = MR

AC = MC

MR = MC

AR = AC

Different kinds of imperfect competition are.

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Monopoly

Monopolistic competition

Oligopoly

All the three

Which of the following input factor takes risk, innovates and coordinates

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capital

labour

productivity

entrepreneur

Unemployment due to mechanization of agriculture is

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seasonal

structural

industrial

personal

Average cost and marginal cost curves in the short-run are:

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Quadratic function

Linear function

Cubic function

Log function

How many types of organization

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5

6

7

8

WAPDA is a

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public corporation

public company

private company

partnership

If price elasticity of demand is very low, the commodity is

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necessity

luxury

substitute

not available

Profits

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are residual payment

are pre-detemined

are fixed by contract

are always higher than wages

When average product (AP) and marginal product (MP) are rising.

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AP > MP

AP = MP

AP < MP

AP = MP = 0

Long-run supply curve of labour is.

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Negatively stoped

Positively sloped

Parallel to the horizontal axis

Parallel to vertical axis

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