Question # 1

How many methods can be used for cultivation

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One

Two

Three

Four

In inflation prices:

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Increase

Do not change

Decrease

Become zero

The unity method of elasticity of demand was presented by:

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Adam Smith

Marshall

J.R Hicks

Pigeou

Average revenue is equal to:

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Price

Marginal revenue

Total revenue

Average cost

Factors of production are:

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One

Three

Two

Four

The economy gets prosperity during:

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Recession

Boom

Depression

Recovery

In monopoly the number of firms is:

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One

Three

Two

Unlimited

According to law of increasing return marginal product:

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Increases

Decreases

Remains constant

None of these

Personal income means:

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Own income

Family income

Govt.income

Old income

The other name of law of decreasing return is:

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Law of decreasing cost

Law of increasing cost

Law of constant cost

Law of increasing returns

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NAT I General Science Economics MCQs With Answers

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