Question # 1

At last, indirect tax is paid by

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Shopkeeper

Entrepreneur

Customer

Whole-seller

Demand for luxuries in

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Les elastic

More elastic

Perfectly elastic

Perfectly inelastic

The factor which is needed to produce goods by the combination of land, labour and capital is called

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Land

Labour

Capital

Organization

"Principles of Economics" was written in:

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1776

1890

1932

1930

To determine consumer's equilibrium, professor Marshall got help from the law

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Law of diminishing marginal utility

Law of equi marginal utility

Law of demand

Law of constant return

Cost of a firm on the optimum combination of factors of production is

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Minimum

Maximum

Reasonable

Positive

The additional cost which a firm has to bear in order to produce additional unit of output, are called

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Average cost

Marginal cost

Fixed costs

Variable costs

Equilibrium price is determined in.

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Perfect market

Imperfect market

Monopoly

None of these

Methods of deriving economic laws are

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Two

Three

Four

Five

Slope of demand curve of exceptions of law of demand is

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Negative

Positive

Zero

Fixed

In production process, when units of variable factors along with fixed factor of production are increased, marginal product goes on failing, this tendency in economics is called

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Law of decreasing return

Law of increasing return

Law of production

Law of constant return

Economy gets prosperity during

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Recession

Depression

Boom

Recovery

Meteorological theory of trade cycle was presented by:

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Joseph Schumpeter

Habson Foster

Jevons

Hawtray

Capital goods are those which can satisfy human wants:

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Directly

Indirectly

Proportionate

None of these

If the rate of tax does not change with decrease or increase in the level of income, is called

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Proportional tax

Progressive tax

Regressive tax

value added tax

Utility can not be measurable who has said

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Marshall

Hicks

Pigue

Adam Smith

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