Question # 1

The other name of law of diminishing return is:

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Law of supply

Law of diminishing marginal utility

Law of demand

Law of increasing cost

The quality of a commodity which satisfies the human wants:

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Usefulness

Loss

Utility

Return

The shape of AR and MR under perfect competition is:

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Vertical

U-shape

Horizontal to ox-axis

None of these

In monopoly the number of firms is:

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One

Three

Two

Unlimited

It is a Federal Tax:

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Excise duty

Local tax

Property tax

None

According to law of diminishing marginal utility the marginal utility:

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Increases

Remains constant

Diminishes

Negative

Personal income means:

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Own income

Family income

Govt.income

Old income

What remains after deduction of direct taxes from the personal incom:

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NNI

DPI

NDI

GNP

The unity method of elasticity of demand was presented by:

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Adam Smith

Marshall

J.R Hicks

Pigeou

Income elasticity show the relationship between:

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Income and demand

Income and consumption

Income and price

Income and saving

How many methods can be used for cultivation

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One

Two

Three

Four

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