Online Test Information

Question # 1

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

Equal to unity A
Less than unity B
Greater than unity C
Equal to zero D

Question # 2

The supply of land is:

Infinity A
Fixed B
Variable C
Zero D

Question # 3

The quality of a commodity which satisfies the human wants:

Usefulness A
Loss B
Utility C
Return D

Question # 4

During a year aggregate value of produced goods and services of a country is called:

Per-capita income A
Net national income B
Personal income C
Gross national product D

Question # 5

Rent of building is included in:

Fixed cost A
Variable cost B
Marginal cost C
Selling cost D

Question # 6

Inflation on prices:

Decrease A
Remains constant B
Increase C
Become zero D

Question # 7

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 # 8

How many methods can be used for cultivation

One A
Two B
Three C
Four D

Question # 9

The unity method of elasticity of demand was presented by:

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

Question # 10

Who wrote The Nature and Significance of Economics"

Adam simth A
Marshall B
Robbins C
Keynes D

Question # 11

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 # 12

According to law of increasing return marginal product:

Increases A
Decreases B
Remains constant C
None of these D

Question # 13

National income does not include:

Profit A
Wages B
Interest C
Transfer payments D

Question # 14

Which Economists presented the law of diminishing marginal utility:

Robbins A
Malthus B
Adam Smith C
Marshall D

Question # 15

Factors of production are:

One A
Three B
Two C
Four D

Question # 16

The other name of law of decreasing return is:

Law of decreasing cost A
Law of increasing cost B
Law of constant cost C
Law of increasing returns D

Question # 17

The elasticity of demand of durable good is:

More than unity A
Equal to unity B
Less than unity C
Zero D

Question # 18

What is deducted from GNP to find GDP.

Depreciation allowance A
Net income received from abroad B
Indirect tax C
Transfer payments D

Question # 19

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

NNI A
DPI B
NDI C
GNP D

Question # 20

International trade has the benefits

One A
Three B
Two C
Unlimited D

Sr.#	Question	Answer
1	The economy gets prosperity during:	A. Recession B. Boom C. Depression D. Recovery
2	Income elasticity show the relationship between:	A. Income and demand B. Income and consumption C. Income and price D. Income and saving
3	According to law of increasing return marginal product:	A. Increases B. Decreases C. Remains constant D. None of these
4	Inflation on prices:	A. Decrease B. Remains constant C. Increase D. Become zero
5	The supply of land is:	A. Infinity B. Fixed C. Variable D. Zero
6	The elasticity of demand of durable good is:	A. More than unity B. Equal to unity C. Less than unity D. Zero
7	What remains after deduction of direct taxes from the personal incom:	A. NNI B. DPI C. NDI D. GNP
8	International trade has the benefits	A. One B. Three C. Two D. Unlimited
9	Reward for labour is:	A. Interest B. Wages C. Profit D. Rent
10	In inflation prices:	A. Increase B. Do not change C. Decrease D. Become zero

Latest Educational News Stories

Pakistan's Largest Database of Colleges and Universities

BS Programs

University Past Papers

University Results

Exam Results 2024

Study Abroad Programs and Opportunities for Pakistani Students

NAT-IGS General Science Economics Hard Test

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