Question # 1

The rate of usher on product of canal land is

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5%

10%

20%

2.5%

When a firm's average total cost is equal to price, then it is called as

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Normal profit

Abnormal profit

Normal loss

Abnormal loss

Flux method is also known as:

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Percentage method

Unitary method

Total expenditure method

All of them

Relationship between price and quantity demanded is called

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Demand schedule

Demand curve

Law of demand

Assumptions of law of demand

Quantity of a commodity which a person is ready to purchase at a particular price, is called

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Individual demand

Market demand

Supply

Market Supply

One of the following is not land:

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White house

Sub continents

Power house

Both (a) and (b)

Who did write the book named "Nature and importance of economics"

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Adam smith

Marshall

Robbins

Keynes

Which is the Demand Curve of a frim

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Average Revenue Curve

Marginal Revenue Curve

Total Revenue Curve

Average cost curve

If variable costs of a firm are covered partly under perfect competition, then that firm

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Will run with normal profit

Will run with abnormal profit

Will run with minimum loss

Will not continue its business and close down

To which area of England Adam Smith belonged

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Wales

Scotland

Ireland

London

Who said that economics is science of wealth

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Adam smith

Robbins

Marshall

Pigou

Net National product is equal to

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GNP + Depreciation expenditure

GDP + Depreciation expenditure

GNP - Depreciation expenditure

GDP - Depreciation expenditure

Consumer's behaviour means:

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Selection

Purchase

Sale

Both (a) and (b)

If the rate of change in price and quantity supplied is equal then:

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Es = 0

Es = 1

Es > 1

Es < 1

When there is inflation attached with high unemployment level, it is called ?

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Stagflation

Hyper inflation

Demand pull inflation

Cost push inflation

In which phase of a trade cycle national product, wages, prices and profits reach at their peak

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Recovery

Boom

Recession

Depression

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