Question # 1

To the economist, investment refers to

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sale of real estate

creation of new capital

purchase of a prize bond

decrease in inventories

With an increase in cost of production, price of the product rises while supply of the product will.

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Fall

Rise

Remain unchanged

Non of the three

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

If elasticity of supply is one, supply curve will be

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horizontal

vertical

passing through origin

touching x-axis

A decrease in demand causes the equilibrium price to

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rise

fall

remain constant

indeterminate

All the products which are priced in the market are.

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Non economic products

Economic products

Private products

Public products

Gross profit includes

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monopoly profit

pure profit

windfall profit

all of the above

.Which one is not an economic want.

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Want for food

Want to be a doctor

Want to fall in love

Non of the above

Power of a product which can satisfy human want is.

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Utility

Total utility

Average utility

Marginal utility

Members of a public limited company in Pakistan are.

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5 to 50

10 to 100

7 to any number

only 5

Economic development of a country requires

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skilled lobour

diplomacy

abundant natural resources

a and c of aboce

Law of diminishing marginal utility provides basis for:

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Law of demand

Law of supply

Laws of returns

Law of variable proportions

The part of wealth, other than natural resources, which can be used for further production of wealth are called

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Capital

Revenue

Fundamentals of economics

None of these

He described economics as a science of material welfare

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Robbins

Marshall

Ricardo

Keyness

When demand rises more than supply price of the product will.

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Rise

Fall

Remains unchanged

None of the three

Common market of SAARC countries will be called:

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International market

National market

Regional market

None of the three

Which of the following is capital

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toy of a child

plough of the farmer

calculator of the student

novel book in the library

The word "LIMITED" at the end of a firm's name means

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it produces only commodity

has limited capital

cannot have more than 100 members

shareholders liability to pay debt of firm cannot exceed value of their investment

Trade Unions in Pakistan are unable to get an increase in wage rates because of :

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Minimum wage law

Low labour efficiency

Capital intensive projects

Lack of Natural resources

It is most suitable for large scale business

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proprietorship

partnership

corporation

cooperative society

Which one of the following is a day to day market.

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The market of perishable goods

The market of refrigerators

The market of stationary

None of the three

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