Question # 1

According to which economist, it is difficult to find marginal product

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Robbins and Keynes

Marshall and pigou

Adam Smith and Mathuls

Taussing and Davenport

In between how many countries international trade takes place under comparative cost theory

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Two

Three

Four

Many

Writing of the same behavior of the people in particular arrangement and words is called

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Normative science

Positive science

Economic law

Scientific law

Advantages of international trade are

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One

Two

Three

Many

To derive economic laws deductive method was adopted by

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Classical school of thought

Neo classical school of thought

Historical school of thought

Modern school of thought

If we multiply margina product with price we get:

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MFC

MRP

TVC

Both a and b

The demand curve for monopolist is also called

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Total revenue

Average revenue

Marginal revenue

Zero revenue

Curve of law of diminishing marginal utility

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Moves from left to right downward

Moves from left to right upward

Firstly it has a tendency to rise up and after a certain limit it starts falling

It is parallel to ox-axis

Want of a commodity is satisfied, when its marginal utility is

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Positive

Zero

Negative

Minimum

Economic point of view of the supporters of which school of thought is the name of feeling and mental state

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Classical

Neo classical

Ancient

Modern

On which of the following law of diminishing marginal utility is applicable

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Money and wealth

Diamonds and jewels

Goods of fashion

Necessities of life

Convertible paper money is issued by

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Central bank

Commercial bank

Industrial bank

Central government

If the total expenditure of the consumer decreases due to decrease in price, then nature of elasticity of demand will be

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Equal to unity

Less than unity

More than unity

Elasticity of demand = zero

One condition which is not included in perfect competition conditions

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Homogeneity of product

Difference in price

Large number of buyers and sellers

Perfect knowledge of the market

If in a production sector, along with the fixed factor of production, by increasing units of variable factors, marginal product remains constant, this tendency in economics is called

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Law of increasing return

Law of constant return

Law of decreasing return

Law of production

Which is not included in variable cost

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price of raw material

Advertisement expenditures

rent of builiding

wages of labour

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