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Online Tests
Economics Ics Part 1 English Medium Online Test MCQs With Answers
Question # 1
Commercial economics are a pat of:
Choose an answer
Internal economics
External economics
Economies of scale
None of the three
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Question # 2
How many merits of organization in text book
Choose an answer
7
8
9
10
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Question # 3
Under perfect competition
Choose an answer
AC = AVC
AR = AC
AR = MC
AR= MR
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Question # 4
Trade Unions in Pakistan are unable to get an increase in wage rates because of :
Choose an answer
Minimum wage law
Low labour efficiency
Capital intensive projects
Lack of Natural resources
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Question # 5
These are kinds of rent EXCEPT
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differential rent
scarcity rent
mobility rent
location rent
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Question # 6
There are large number of seller and buyers in the market but none is able to influence market price. such a market is called
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free
open
regular
competitive
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Question # 7
Economic laws can be define as .
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A statement of social behaviour
Laws implement by an executive
Laws of the state
Statement of general economic tendencies
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Question # 8
Which one is increasing function of price
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demand
utility
supply
consumption
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Question # 9
How many types of organization
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5
6
7
8
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Question # 10
Marginal land
Choose an answer
is uncultivable land
gets low rent
gets no rent
cannot be sold
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Question # 11
Which one can cause a change in demand
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change in income
change in supply
change in tastes
a and c of above
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Question # 12
Every country should have population
Choose an answer
minimum
constant
optimum
fast growing
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Question # 13
Which is
NOT
a cause of slow capital formation in Pakistan
Choose an answer
poverty
illiteracy
bad governance
low rate of taxes
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Question # 14
Economics problems arise because of
Choose an answer
greed
scarcity
dishonesty
laziness
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Question # 15
The talent of a professor is .
Choose an answer
National wealth
International wealth
Personal wealth
Non of them
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Question # 16
Unemployment due to mechanization of agriculture is
Choose an answer
seasonal
structural
industrial
personal
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Question # 17
The price of an non-economic good is:
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Very low
Very high
Zero
Negative
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Question # 18
Profits
Choose an answer
are necessary
are unnecessary
can never be negative
are illegal
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Question # 19
Which one will determine scale of production .
Choose an answer
Financial resources
Production techniques
Extant of the market
All the above
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Question # 20
The goods used to produce income or wealth are.,
Choose an answer
Consumer goods
Manufactured goods
Merit goods
Capital goods
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Question # 21
Buyers and sellers under perfect competition are.
Choose an answer
The same in number
Large in number
Small in number
None of the above
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