| 1 |
Short run cost curves are. |
- A. v-shaped
- B. Dish-shaped
- C. U-shaped
- D. L-shaped
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| 2 |
The first law of consumption was presented by. |
- A. Robert Malthus
- B. Loinel Robbins
- C. Alfred Marshall
- D. Pareto
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| 3 |
Price determined in case of a perishable good will be. |
- A. Normal price
- B. Market price
- C. Short run price
- D. Long run price
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| 4 |
The demand curve is negatively sloped due to |
- A. Income effect
- B. Substitution effect
- C. Price effect
- D. All the three
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| 5 |
Which one is not doing an economic activity. |
- A. One who is offering prayers.
- B. One who works for wage.
- C. One who rents out his property .
- D. One who is an employee of Government
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| 6 |
If demand is inelastic, a change in the price |
- A. will change the quantity in same direction
- B. will change total revenue in same direction
- C. will change total revenue in the opposite direction
- D. will not change quantity
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| 7 |
It is an example of public limited company |
- A. WAPDA
- B. President House
- C. SHELL petroleum
- D. none of the above
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| 8 |
Father of the political economy |
- A. Adam smith
- B. Malthus
- C. Marshall
- D. Samuelson
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| 9 |
Capital formation lakes place when |
- A. people save a part of their incomes
- B. saved amount is invested
- C. investors expect good return
- D. all of the three
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| 10 |
Which one is the small scale production. |
- A. Bata shoe factory
- B. A barber shop
- C. kohinoor Textile Industries
- D. Sufi soap
|