Question # 1

Commercial economics are a pat of:

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Internal economics

External economics

Economies of scale

None of the three

How many merits of organization in text book

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7

8

9

10

Under perfect competition

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AC = AVC

AR = AC

AR = MC

AR= MR

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

These are kinds of rent EXCEPT

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differential rent

scarcity rent

mobility rent

location rent

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

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

Which one is increasing function of price

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demand

utility

supply

consumption

How many types of organization

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5

6

7

8

Marginal land

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is uncultivable land

gets low rent

gets no rent

cannot be sold

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

Every country should have population

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minimum

constant

optimum

fast growing

Which is NOT a cause of slow capital formation in Pakistan

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poverty

illiteracy

bad governance

low rate of taxes

Economics problems arise because of

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greed

scarcity

dishonesty

laziness

The talent of a professor is .

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National wealth

International wealth

Personal wealth

Non of them

Unemployment due to mechanization of agriculture is

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seasonal

structural

industrial

personal

The price of an non-economic good is:

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Very low

Very high

Zero

Negative

Profits

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are necessary

are unnecessary

can never be negative

are illegal

Which one will determine scale of production .

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Financial resources

Production techniques

Extant of the market

All the above

The goods used to produce income or wealth are.,

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Consumer goods

Manufactured goods

Merit goods

Capital goods

Buyers and sellers under perfect competition are.

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The same in number

Large in number

Small in number

None of the above

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