NAT-IGS General Science Economics Hard Test

MCQ's Test For NAT-IGS General Science Economics Hard Test

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NAT-IGS General Science Economics Hard Test

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Question # 1

Canons of taxation describes

Question # 2

Who presented the quantity theory of money:

Question # 3

In monopoly the number of firms is:

Question # 4

The elasticity of demand of durable goods is:

Question # 5

Who is the writer of Wealth of Nation?

Question # 6

The economy gets prosperity during:

Question # 7

What was the difficulty in the barter System:

Question # 8

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

Question # 9

Who is responsible for profit and loss in the business:

Question # 10

The supply of land is:

Question # 11

Factors of production are:

Question # 12

If total expenditure decreases with the rise in price elasticity of demand will be

Question # 13

Personal income includes:

Question # 14

The methods of measuring elasticity of supply are:

Question # 15

In inflation prices:

Question # 16

Inflation will be useful for:

Question # 17

Reward for capital is called:

Question # 18

The economy gets maximum prosperity during:

Question # 19

Reward for labour is:

Question # 20

Due to devaluation exports become:

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NAT-I Economics Chapter 1 Important MCQ's

Sr.# Question Answer
1 National income period is
A. One year
B. Three years
C. Two years
D. Four years
2 In monopoly the number of firms is:
A. One
B. Three
C. Two
D. Unlimited
3 International trade has the benefits:
A. One
B. Unlimited
C. Two
D. Three
4 It is a Federal Tax:
A. Excise duty
B. Local tax
C. Property tax
D. None
5 What remains after deduction of  direct taxes from the personal incom:
A. NNI
B. DPI
C. NDI
D. GNP
6 Who wrote The Nature and Significance of Economics"
A. Adam simth
B. Marshall
C. Robbins
D. Keynes
7 Personal income means:
A. Own income
B. Family income
C. Govt.income
D. Old income
8 The quality of a commodity which satisfies the human wants:
A. Usefulness
B. Loss
C. Utility
D. Return
9 During a year aggregate value of produced goods and services of a country is called:
A. Per-capita income
B. Net national income
C. Personal income
D. Gross national product
10 Phases of trade cycle are:
A. One
B. Three
C. Two
D. Four

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