Question # 1

The proportion of rural population in Pakistan is:

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68%

70%

72%

74%

WAPDA is a

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public corporation

public company

private company

partnership

Who introduced the concept of Quasi rent.

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Hicks

Alfred Marshall

Hobson

Robbins

With an increase in wage rate supply of labour.

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Decrease

Increase

Remains constant

None of the three

Total profit = ?

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Per unit profit x output

Per unit profit x input

Per unit profit + output

per unit profit - input

How many kinds of Function

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2

3

4

5

The slopes of average and marginal products curves are always zero under:

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Law of increasing returns

Law of diminishing returns

Law of constant returns

Law of variable propoitions

Adam smith was a

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President of France

a modern economist

good sports man

classical economist

Which of the following is NOT capital as economists use the term

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an office building

machinery in a factory

an industrial robot

money

Intensive cultivation means.

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Extending land for cultivation

Use of more input at the same land

More input and more land to be used`

More land and less labour to be used

The supply of land is fixed whereas its Demand is increase day by day, the rent Produced in this way is:

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Differential rent

Scarcity rent

Quasi rent

Economic rent

Scarcity means

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non availability of goods

high price of goods

less supply than demand

high profit of the firms

The quantities of a commodity offered for sale at different prices during a given period of time are called

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Supply

Demand

Stock

None of these

In short period how many possibilities in which a firm may find itself

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four

five

six

seven

Quasi rent

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is permanent

is temporary

arises in long run only

means high rent

Product differentiation is a pre-condition of:

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Perfect competition

Imperfect compitition

Monopoly

Oligopoly

All factors of productions are variable in the:

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Marked period

Short period

long period

None of the three

The elasticity of demand of durable goods is

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less than unity

greater than unity

equal to unity

zero

Different kinds of imperfect competition are.

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Monopoly

Monopolistic competition

Oligopoly

All the three

Profits arise

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only in monopoly

because of uncertainty

shortage of goods

like interest

Economics is a science which studies.

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Distribution of income

Optimum use of scarce resources.

Production of wealth only

Exchange of wealth only

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