Question # 1

A producers has one thousand tons of rice to be offered for sale at a certain price in future, it will be called.

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Supply of output

Production

Buffer stock

Stock

Gross profit does NOT include

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rent of his own land

interest of his own capital

pure profit

taxes

How many various form of partnership

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3

4

5

6

A statement of how one variable affects other variable is

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a quadrant

a variable

an assumption

a functional relationship

Economics of scale are of two kinds

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temporary and permanent

internal and external

managerial and industrial

natural and artificial

How many merits of organization in text book

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7

8

9

10

All materials goods which can satisfy humans wants are called.

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Non economic goods

Economic goods

Capital goods

Services

Three basic economics problems are

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what, how and for whom

why, where and when

what, which and how much

what, which and why

How many Kinds of variables?

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There are many kinds of variables

There are 2 kinds of variables

There are 3 kinds of variables

There are 4 kinds of variables

In which year Alfred Marshall wrote a book entitled "Principle of economics"

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1850

190

1870

1890

Supply curve will shift when

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price falls

price rises

demand shifts

technology changes

Goods which can satisfy human wants are.

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Consumer goods

Capital goods

Social goods

Public goods

When the supply curve of a product is parallel to the vertical axis, it would mean that;

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Different quantities of a product are supplied at the same price.

Different quantities of a product are supplied at different price.

Same quantities of a product are supplied at different price.

None of three

They are included in labour expect

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college principle

professors

office clerk

students

How many types of markets according to location

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4

5

6

7

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

Which of the following is the subject matter of Economics.

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Optimum use of limited resources for the satisfaction of unlimited human wants.

Economic problems of the developing countries.

Labour problems.

Balance of payment problems.

The sacrifice of an alternative use of resources to produce something is called its

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real cost

opportunity cost

sacrifice cost

alternative cost

Scarcity means

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non availability of goods

high price of goods

less supply than demand

high profit of the firms

He prepares the initial plan of the business

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capitalist

manager

entrepreneur

officer

A monopolist is always interested and obtains.

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Normal profit

Subnormal profit

Continues production even at loss

Super normal profit

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