Question # 1

In a cartel member firm may be given be given a fixed amount to produce. This is called a:

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Limit

Factor

Quota

Quotient

When surplus occurs?

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The price of the good decreases

The quantity demanded is greater than the quantity supplied

The quantity supplied is greater than the quantity demanded

The quantity demanded is equal to the quantity supplied

What is meant by the the 'The Big four'?

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The Powers contesting global dominance in the sixtes

Representatives of the main victorious Powers at the paris peace conference after WW1

The powers at the Yalta conference of WW2

The Powers involved during the American Revolutionary War

Who is known as Father of scientific Management?

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Henry Fayol

Elton Mayo

Chester Bernard

F.W Taylor

Total revenues neither increase nor decrease When price changes?

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unit elastic

Marginal utility

diminishing marginal utility

Traditional economy

"Economics is what economics do" it has been supported by:

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Richard Jones

Comte

Gunnar Myrdal

All of the above

''The State in which all authority and powers are vested in a single center, whose will and agents are legally omnipotent over the whole are'' is known as:

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Unitary Government

F3ederal Government

Parliamentary Government

Presidential Government

What does contemporary mean?

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Form the past

Form the actual time

None of the these

Which is the largest import Pakistan?

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Food

Petroleum

Fertilizer

Medicine

Who describes the pressure groups as the Third House of he Legislature?

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Lord Bryce

H,M Finer

G, D. H. Cole

Dicey

Every country establishes central bank to:

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issue notes

Supervise commercial banks

Give loans to businessmen

Both a and b

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