Online Test Information

Question # 1

Factors of production are:

One A
Three B
Two C
Four D

Question # 2

Who presented the quantity theory of money:

Marshall A
Robbins B
Taussig C
Keynes D

Question # 3

Who described Economics as a scienece of wealth:

Piguo A
Adam Smith B
Robbins C
Marshall D

Question # 4

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

Directly A
Off and On B
Indirectly C
Never D

Question # 5

International trade has the benefits:

One A
Unlimited B
Two C
Three D

Question # 6

Which economist presented the Cardinal Theory of Utility:

Marshall A
Canon B
Kroose C
J.B Say D

Question # 7

The unity method of elasticity of demand was presented by:

Adam Smith A
Marshall B
J.R Hicks C
Pigeou D

Question # 8

The other name of law of diminishing return is:

Law of supply A
Law of diminishing marginal utility B
Law of demand C
Law of increasing cost D

Question # 9

Who is the writer of Wealth of Nation?

Marshall A
Adam Smith B
Robbins C
Keynes D

Question # 10

The supply of perishable goods is:

Fixed A
Variable B
Minor change C
Zero D

Question # 11

When price falls supply:

Expands A
Remains zero B
Contrasts C
Become fixed D

Question # 12

It is a Federal Tax:

Excise duty A
Local tax B
Property tax C
None D

Question # 13

Inflation on prices:

Decrease A
Remains constant B
Increase C
Become zero D

Question # 14

What was the difficulty in the barter System:

Excess of goods A
Difference language B
Lack of co-incidence C
Difference in proffession D

Question # 15

Inflation will be useful for:

Labourers A
Industrialist B
Consumers C
Pensioners D

Question # 16

National income does not include:

Profit A
Wages B
Interest C
Transfer payments D

Question # 17

Slope of demand curve is:

Negative A
Zero B
Positive C
Fixed D

Question # 18

National income period is

One year A
Three years B
Two years C
Four years D

Question # 19

Personal income means:

Own income A
Family income B
Govt.income C
Old income D

Question # 20

The economy gets maximum prosperity during:

Recession A
Recovery B
Boom C
Depression D

Sr.#	Question	Answer
1	National income period is	A. One year B. Three years C. Two years D. Four years
2	Who is the writer of Wealth of Nation?	A. Marshall B. Adam Smith C. Robbins D. Keynes
3	Who described Economics as a scienece of wealth:	A. Piguo B. Adam Smith C. Robbins D. Marshall
4	Marginal cost curve always intersects average cost curve at:	A. The maximum point B. The central point C. The minimum point D. The vertical point
5	Personal income means:	A. Own income B. Family income C. Govt.income D. Old income
6	The other name of law of decreasing return is:	A. Law of decreasing cost B. Law of increasing cost C. Law of constant cost D. Law of increasing returns
7	The supply of perishable goods is:	A. Fixed B. Variable C. Minor change D. Zero
8	The other name of law of diminishing return is:	A. Law of supply B. Law of diminishing marginal utility C. Law of demand D. Law of increasing cost
9	Inflation on prices:	A. Decrease B. Remains constant C. Increase D. Become zero
10	The elasticity of demand of durable goods is:	A. Zero B. More than unity C. Less than unity D. Equal to unity

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