Question # 1

If demand did not influence by the charge in price, that is called:

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Elasticity of demand = 1

Elasticity of demand < 1

Elasticity of demand > 1

Elasticity of demand = 0

Total utility decreases when marginal utility is

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Positive

Negative

Zero

Maximum

The record of visible and invisible items on international account is called

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Balance of payment

Balance of trade

Balance of budget

Capital account

Tendency of demand curve of a factor of production is

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Positive

Negative

Zero

Horizontal

Demand for the commodities having different uses

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Less elastic

More elastic

Perfectly inelastic

Infinitely elastic

Usually market price is ____________ normal price

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Equal to

Less than

More than

None of these

When supply curve shifts rightward or down it is called

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Rise of supply

Fall of supply

Extension of supply

Contraction of supply

Net foreign income is

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Exports - imports

Exports + imports

Income received by exports

Income received by imports

According to the law of supply, there is relation in price and supply

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Inverse

Increasing

Negative

indirect

Which law is applicable on production process under marginal productivity theory

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Law of increasing return

Law of constant return

Law of decreasing return

Law of decreasing cost

Who said that economics is neutural science ?

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Pigou

Keynes

Robbins

Marshall

A system where the goods are exchange with goods is known as:

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Monetary system

Barter System

Coins system

Goods system

Regarding time element, the normal price has types

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One

Two

Three

Four

Total utility increases when marginal utility is

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Positive

Negative

Zero

Minimum

The systematic record of the money value of visible exports and visible imports of one year of country is called

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Balance of trade

Balance of payment

International balance

External balance

The rate of usher on product of canal land is

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5%

10%

20%

2.5%

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