Question # 1

How many merits of organization in text book

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7

8

9

10

When total product rises marginal product.

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Remains the same

Falls

Also rises

None of the three

When MU=0, TU is

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minimum

maximum

increasing

decreasing

Land is mobile factor of production.

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Not mobile

Mobile by the transfer ownership

Geographically mobile

Mobile vertically

Standard of living of a country can be raised if it increases

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labour force

production

money supply

exports

Ten rupees is the equilibrium price for good Z. If govt. fixes price at Rs. 5, there is

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a shortage

a surplus

excess supply

loss

Unemployment due to mechanization of agriculture is

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seasonal

structural

industrial

personal

When price elasticity of demand for normal goods in calculated, the value is always

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positive

negative

constant

greater than one

The main object of trade unions is to:

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Strength the bargaining position of labour

Get jobs for the employed persons

Get recreational facilities

Get free meals

In case of perfect competition in the market

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marginal revenue curve always slopes upward

marginal revenue curve always slopes downward

marginal revenue is always equal to average revenue

marginal revenue is always less than to average revenue

Micro economics concentrates

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on inflation

international economics relations

individual economics units

economics development of Pakistan

The number of goods and services which one unit of a product can command in exchange for it is its.

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Value of money

Value in exchange

Price

Utility

Which is the general form of quadratic equation

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x²-x-20 = 0

ax²+bx +c = 0

x²- x -c =0

None of these

Economic development of a country requires

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skilled lobour

diplomacy

abundant natural resources

a and c of aboce

Which one is the assumption of law of demand?

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price of the commodity should not change

quantity demand should not change

income of the consumer should not change

none of the above

Marginal product curve intersects average product curve when AP curve is

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minimum

maximum

rising

falling

The demand curve slopes downward from left to right because of:

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Income effect

Substitution effect

Entry of new buyers

All of the above

Normal profit is attained where:

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TR = TC

TR >TC

AR > MR

AR < MR

The necessary condition for equilibrium of firm is

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AVC = AFC

AR = MR

MC = MR

TVC = TFC

Food, Shelter and clothing are:

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Necessities

Comfort

Luxuries.

None of three

Market demand curve is a summation of all individual demand curves as

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Vertical

horizontal

mathematical

local

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