NAT IIM Management Science Economy Online Test for Pakistani Students

MCQ's Test For NAT II Management Science Economy

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NAT II Management Science Economy

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Question # 1

Which Economists presented the law of diminishing marginal utility:

Question # 2

Who is the writer of Wealth of Nation?

Question # 3

Who is responsible for profit and loss in the business:

Question # 4

In 2005-06, bajra was grown on 438 thousand hectares and its production in thousand tons was:

Question # 5

What was the contribution of the services sector to the GNP in FY 2005-06.

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NAT-II Economy Chapter 0 Important MCQ's

Sr.# Question Answer
1 Who is responsible for profit and loss in the business:
A. Capitalist
B. Entrepreneur
C. Labour
D. Middleman
2 Give the production of sugarcane in Pakistan in 2005-06?
A. 22 millions tons
B. 33 million tons
C. 44 million tons
D. 55 million tons
3 A tax on the accounting profits of corporations is known as:
A. Sales tax
B. Excise tax
C. Corporate income tax
D. Personal income tax
4 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
5 In 2005-06 total production of fish inland and marine in Pakistan was:
A. 5,81,000 tons
B. 6,72,000 tons
C. 7,44,000 tons
D. 8,33,000 tons
6 For knowing the spending capacity of the household sector, we have to use the concept of:
A. National income
B. Personal income
C. Private income
D. Personal disposable income
7 Welfare economics is the branch of economics which deals with:
A. Positive issues
B. Normative issues
C. Micro issues
D. Macro issues
8 Which sector contributed to 22 percent to GDP in Pakistan in 2005-06?
A. Services
B. Transport
C. Mining
D. Agriculture
9 Give the share of commodity producing the sector in the GNP in 2005-06?
A. 2.5 percent
B. 4.3percent
C. 3.8percent
D. 7.2percent
10 Which of the following is true about supply curve under monopoly?
A. It is same as the competitive market supply curve
B. It is the portion of marginal cost curve where marginal costs exceed the minimum value of average variable costs
C. It is the result of market power and production costs
D. None of the given statements is true

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