Question # 1

In inflation prices:

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Increase

Do not change

Decrease

Become zero

The methods of measuring elasticity of supply are:

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Three

Two

Four

Five

The quality of a commodity which satisfies the human wants:

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Usefulness

Loss

Utility

Return

According to law of diminishing marginal utility the marginal utility:

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Increases

Remains constant

Diminishes

Negative

Slope of demand curve is:

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Negative

Zero

Positive

Fixed

The economy gets prosperity during:

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Recession

Boom

Depression

Recovery

Personal income means:

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Own income

Family income

Govt.income

Old income

Who is the writer of Wealth of Nation?

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Marshall

Adam Smith

Robbins

Keynes

Reward for labour is:

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Interest

Wages

Profit

Rent

Factors of production are:

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One

Three

Two

Four

The shape of AR and MR under perfect competition is:

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Vertical

U-shape

Horizontal to ox-axis

None of these

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