Question # 1

Which Economists presented the law of diminishing marginal utility:

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Robbins

Malthus

Adam Smith

Marshall

Consumer goods are those goods which are used by a man:

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Directly

Off and On

Indirectly

Never

Income elasticity show the relationship between:

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Income and demand

Income and consumption

Income and price

Income and saving

What was the difficulty in the barter System:

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Excess of goods

Difference language

Lack of co-incidence

Difference in proffession

The methods of measuring elasticity of supply are:

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Three

Two

Four

Five

Ushr implies on:

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Agricultural product

Industrial product

Agricultural & industrial product

None of these

The supply of perishable goods is:

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Fixed

Variable

Minor change

Zero

Macro Economics was introduced by:

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Alfred Marshall

J.M.Keynes

N.W Senior

J.B.Clark

Who described Economics as a scienece of wealth:

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Piguo

Adam Smith

Robbins

Marshall

The quality of a good which satisfies a human want is called as:

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Service

Cost

Utility

None

The unity method of elasticity of demand was presented by:

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Adam Smith

Marshall

J.R Hicks

Pigeou

Phases of trade cycle are:

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One

Three

Two

Four

The supply of land is:

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Infinity

Fixed

Variable

Zero

Who criticized Prof.Robbin's definition?

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Marshall,J.B

Beveridge

Clark

Pigeou

Which economist presented the Cardinal Theory of Utility:

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Marshall

Canon

Kroose

J.B Say

According to law of diminishing marginal utility the marginal utility:

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Increases

Remains constant

Diminishes

Negative

Marginal cost curve always intersects average cost curve at:

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The maximum point

The central point

The minimum point

The vertical point

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