Online Test Information

Question # 1

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 # 2

The shape of AR and MR under perfect competition is:

Vertical A
U-shape B
Horizontal to ox-axis C
None of these D

Question # 3

In inflation prices:

Increase A
Do not change B
Decrease C
Become zero D

Question # 4

When price falls supply:

Expands A
Remains zero B
Contrasts C
Become fixed D

Question # 5

The supply of land is:

Infinity A
Fixed B
Variable C
Zero D

Question # 6

When national income is increases:

Standard of living increases A
Standard of living decreases B
Remains same C
Bad thing D

Question # 7

Who described Economics as a scienece of wealth:

Piguo A
Adam Smith B
Robbins C
Marshall D

Question # 8

Ushr implies on:

Agricultural product A
Industrial product B
Agricultural & industrial product C
None of these D

Question # 9

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

Directly A
Off and On B
Indirectly C
Never D

Question # 10

Who presented the quantity theory of money:

Marshall A
Robbins B
Taussig C
Keynes D

Question # 11

Personal income includes:

Direct taxes A
Indirect taxes B
Undivided profit C
Both 2^nd and 3^rd D

Question # 12

The quality of a good which satisfies a human want is called as:

Service A
Cost B
Utility C
None D

Question # 13

How many methods can be used for cultivation

One A
Two B
Three C
Four D

Question # 14

According to law of increasing return marginal product:

Increases A
Decreases B
Remains constant C
None of these D

Question # 15

The unity method of elasticity of demand was presented by:

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

Question # 16

What is deducted from GNP to find GDP.

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

Question # 17

The economy gets maximum prosperity during:

Recession A
Recovery B
Boom C
Depression D

Question # 18

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 # 19

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 # 20

In monopoly the number of firms is:

One A
Three B
Two C
Unlimited D

Sr.#	Question	Answer
1	According to law of increasing return marginal product:	A. Increases B. Decreases C. Remains constant D. None of these
2	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
3	Who is responsible for profit and loss in the business:	A. Capitalist B. Entrepreneur C. Labour D. Middleman
4	Rent of building is included in:	A. Fixed cost B. Variable cost C. Marginal cost D. Selling cost
5	Who presented the quantity theory of money:	A. Marshall B. Robbins C. Taussig D. Keynes
6	The supply of land is:	A. Infinity B. Fixed C. Variable D. Zero
7	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
8	Canons of taxation describes	A. Marshall B. Keynes C. Robbins D. Adam Smith
9	The quality of a good which satisfies a human want is called as:	A. Service B. Cost C. Utility D. None
10	The methods of measuring elasticity of supply are:	A. Three B. Two C. Four D. Five

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