| 1 |
The total quantity of a commodity available in or near the market which can be brought for sale at a short notice |
- A. Stock
- B. Supply
- C. Demand
- D. None of these
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| 2 |
An increases in the price of mutton provides information which |
- A. tells consumers to buy more mutton
- B. tells consumers to buy more chicken
- C. tells producers to produce more mutton
- D. b and c of above
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| 3 |
Basic economic problem is |
- A. inflation
- B. unemployment
- C. scarcity
- D. lack of money
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| 4 |
The quantities of a commodity offered for sale at different prices during a given period of time are called |
- A. Supply
- B. Demand
- C. Stock
- D. None of these
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| 5 |
Wealth of nations |
- A. is another name for united nations
- B. is name of a book
- C. indicates total wealth of rich countries
- D. contains formulas to earn wealth
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| 6 |
A contour line which slopes downward from left to right and yield equal level of satisfaction to consumer with the given income is. |
- A. Negatively slop curve
- B. An indifference curve
- C. Positively sloped Curve
- D. None of the above
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| 7 |
One of the following is not a part of macro economics. |
- A. Public finance
- B. International trade.
- C. Consumer behaviour.
- D. National income.
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| 8 |
In economic capital refers to |
- A. money
- B. high quality goods
- C. trade mark
- D. machinery and factories
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| 9 |
Economies and diseconomies of scale determine the shape of |
- A. long run AC curve
- B. short run AC
- C. average fixed cost
- D. none of the above
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| 10 |
When there is big change in quantity supplied resulting from a minor change inits price,its elasticity of supply will be. |
- A. Equal to unity
- B. Less than unity
- C. Equal to zero
- D. Greater than unity
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