Question # 1

When price falls supply:

Expands

Contracts

Remains zero

Becomes fixed

The other name of law of diminishing return is:

Law of supply

Law of diminishing marginal utility

Law of demand

Law of increasing cost

The share of agriculture in the national economy in 2005-06, was:

21.6percent

16.2percent

12.8percent`

13.4percent

Rent of building is included in:

Fixed cost

Variable cost

Marginal cost

Selling cost

Macro Economics was introduced by

Alfred Marshall

J.M. Keynes

N.W. Senior

J.B. Clark

It is a Federal Tax:

Excise duty

Local Tax

Property Tax

None

NAT II Management Science Economy MCQs With Answers