Question # 1

How many functions of capital

Choose an answer

6

5

4

7

For an individual farmer, rent paid by him

Choose an answer

is part of cost and affects price of his product

does not enter into price of his product

is unjustified

cannot be determined

How many kinds of Function

Choose an answer

2

3

4

5

Rotten eggs are

Choose an answer

free good

economic good

service

wealth

In Pakistan rate of labour participation is

Choose an answer

13%

23%

33%

43%

The price of an non-economic good is:

Choose an answer

Very low

Very high

Zero

Negative

Everyone should study economics is a

Choose an answer

positive statement

normative statement

true statement

nonsense

Mr. Suleri bought 50 litters of petrol when his monthly income was Rs. 25000. Now his monthly income has risen to Rs. 50000 and he purchases 100 litres of petrol. His income elasticity of demand for petrol is

Choose an answer

1

100%

less than one

more than one

Economics laws are:

Choose an answer

Statements of tendencies in economic behaviour

Unrealistic to deal with real economic problems.

Absolute and certain like the laws of physical science

Used to forecast the growth rate of an economy.

Economic profit is

Choose an answer

part of total cost

total revenue minus total cost

total revenue minus variable cost

total variable cost minus total fixed cost

Prof. Robins wrote a book in 1931 entitled.

Choose an answer

General Theory of employment. Interest and money.

An inquiry into the nature and causes of wealth of nations.

Principle of economics.

Nature and Significance of economic science.

Land means nature resources which are available.

Choose an answer

On the soil

Above the soil

Below the soil

All the above

They are included in labour expect

Choose an answer

college principle

professors

office clerk

students

How many types of markets according to time

Choose an answer

3

4

5

6

According to Keynes interest is a payment for

Choose an answer

consumer's preference

producer's preference

liquidity preference

state bank's preference

The major difference between perfect competition and monopolistic competition is

Choose an answer

unity of frims

differentiated product

rate of profit

free exit and entry

Markets where firms supply goods and services demanded by households are

Choose an answer

factor market

product market

open markets

resource markets

All materials goods which can satisfy humans wants are called.

Choose an answer

Non economic goods

Economic goods

Capital goods

Services

What best explains a shift in market supply curve to the right?

Choose an answer

an advertising campaign is successful in promoting the good

a new technique makes it cheaper to produce the good

the government introduces a tax on the good

the price of raw materials increases

Marginal utility of a product is the utility obtained by consuming.

Choose an answer

First unit of consummption

Each additional unit of consumption

Last unit of consumption

None of the them

y = 20-5 x this function is.

Choose an answer

Increasing function

Decreasing function

Constant function

Exponential function

More Classes

Other Links

Economics Ics Part 1 English Medium Online Test MCQs With Answers

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer