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Online Tests
Economics Ics Part 1 English Medium Online Test MCQs With Answers
Question # 1
All the following are U-shape except
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AVC
AFC
AC
MC
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Question # 2
Elasticity of demand in case of minor change in price and quantity demand will be .
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Income elasticity of demand
Cross elasticity of demand
Point elasticity of demand
Arc elasticity of demand
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Question # 3
One of the following will not be capital.
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Mchinery
Means of communication
Water falls
Means of transportation
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Question # 4
One of the following is an example of monopoly.
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Motorways
Pakistan railways
PIA
None of these
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Question # 5
The submit the plan to the Registrar of Joint Stock Companies along with ______ documents
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Two
Three
Four
Five
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Question # 6
When TR of a competitive firm is equal to its TC, the firm attains.
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Normal profit
Super normal profit
Sub-normal profit
Shutdown point
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Question # 7
In the second stage of the law of variable of proportions the average product:
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Rises
Remains constant
Falls
None of the three
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Question # 8
One of the following is not land.
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Sui gas
Electric power
Atlantic Ocean`
A river
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Question # 9
How many kinds of market?
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4
5
6
7
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Question # 10
Those who invest in joint stock companies are called
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partners
shareholders
members
associates
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Question # 11
A firm earns economic profit when total profit exceeds
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normal profit
implicit costs
explicit costs
variable costs
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Question # 12
With decrease in price of bonds, rate of interest
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decreases
increases
does not change
none of the above
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Question # 13
Short run means is a period
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less than one year
in which at least one input is fixed
in which no input can be changed
in which firms can easily enter or exit
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Question # 14
If price is set above equilibrium level, there will be
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surplus commodity in the market
shortage of commodity in the market
supply curve will shift
demand curve will shift
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Question # 15
If the rate of inflation goes up, the real wags of labourers will :
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Increase
Decrease
Remain the same
Noe of the three
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Question # 16
TVC
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starts from origin
not from origin
is parallel to x-axis
is parallel to y-axis
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Question # 17
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
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Question # 18
This is
NOT
the result of specialization
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increased production
improvement in quality of product
increase in cost of production
increase in trade
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Question # 19
With an increase in wage rate supply of labour.
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Decrease
Increase
Remains constant
None of the three
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Question # 20
Productivity of land can be raised by
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decreasing farm size
intensive cultivation
better marketing
increasing money supply
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Question # 21
As out put increases, AC curve
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falls
rises
remains constant
all of the above
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