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NAT II Management Science Economy MCQs With Answers

Question # 1

The other name of law of diminishing return is:

Choose an answer

Law of supply

Law of diminishing marginal utility

Law of demand

Law of increasing cost

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Question # 2

The methods of measuring elasticity of supply are:

Choose an answer

Three

Two

Four

Five

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Question # 3

Who is responsible for profit and loss in the business:

Choose an answer

Capitalist

Entrepreneur

Labour

Middleman

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Question # 4

What remains after deduction of direct taxes lions the personal income:

Choose an answer

NNI

DPI

NDI

GNP

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Question # 5

If total expenditure decrease with the rise in prices elasticity of demand will be:

Choose an answer

Equal to unity

Less than unity

Greater than unity

Equal to zero

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Question # 6

Name the water project to be completed in April 2009:

Choose an answer

Gomal Zam Dam

Rainee Canal

Kachhi Canal

Mirani Dam

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Question # 7

Rent of building is included in:

Choose an answer

Fixed cost

Variable cost

Marginal cost

Selling cost

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Question # 8

The price elasticity of demand measures the responsiveness of quantity demanded to:

Choose an answer

Quantity demanded

Quantity supplied

Price

Output

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Question # 9

Which of the following is true about supply curve under monopoly?

Choose an answer

It is same as the competitive market supply curve

It is the portion of marginal cost curve where marginal costs exceed the minimum value of average variable costs

It is the result of market power and production costs

None of the given statements is true

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