Question # 1

As output increases

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MC curve firstly falls then rises

MC firstly rises then falls

MC continuously rises

continuously falls

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

If Bali burgers find that their MC of burgers is less than MR they would try to

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expand business

reduce business

continue as before

close business

He prepares the initial plan of the business

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capitalist

manager

entrepreneur

officer

if X and Y scales are the same a line making 45-degree angle with X-axis has slope

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1/4

1/2

1

constant

He presented a theory of rent

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Malthus

Allama Iqbal

Ricardo

Marshall

We establish ______ conditions for equilibrium

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2

3

4

5

Those who invest in joint stock companies are called

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partners

shareholders

members

associates

One of the following will not be capital.

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Mchinery

Means of communication

Water falls

Means of transportation

Saqib graduated one month ago. He is still unemployed. His unemployment is

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structural

frictional

seasonal

personal

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

Which of the following is correct with respect to resources

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Money is a capital good

Human skills are a labour input

Entrepreneur is part of the labour input

Natural resources include human input

Economies and diseconomies of scale determine the shape of

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long run AC curve

short run AC

average fixed cost

none of the above

A change in price brings in quantity supplied. it will be.

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Rise in supply

Contraction of supply

Fall in supply

Extension of supply

Members of business partnership in Pakistan are:

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2 to 20

5 to 20

2 to 25

2 to 3

Utility is most closely related to the term

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useful

useless

necessary

satisfaction

In case of a fall in supply.

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Quantity supplied falls at the same price.

Quantity supplied rises at the same price.

Quantity supplied remain at the lower price.

None of the three

According to law of diminishing marginal utilities , a consumer maximises his total utility where.

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MU_a = MP_a

MU_a = AU_a

MU_a = TC_a

MU_a = P_a

A factory is an example of

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capital

natural resources

entrepreneurship

none of the above

According to Keynes interest is a payment for

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consumer's preference

producer's preference

liquidity preference

state bank's preference

Price of a product is determined in a free market

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by demand for the product

by supply of the product

by both demand and supply

by the government

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