Question # 1

Which one of the following is indirect tax

Choose an answer

Income tax

Property tax

Wealth tax

Sales tax

Which one is comparatively the most important factor ?

Choose an answer

Land

Labour

Capital

Organization

Which one of the following is included in balance of trade

Choose an answer

Visible goods

Invisible goods

Visible & invisible goods

All the three

Which curve represents demand curve also

Choose an answer

Marginal revenue

Average revenue

Total revenue

Marginal cost

If 50% change in demand in response of 30% change in price then:

Choose an answer

Elasticity of demand = 1

Elasticity of demand < 1

Elasticity of demand > 1

Elasticity of demand = 0

Methods for measurement of national income are:

Choose an answer

Two

Three

Four

Five

In short average cost curve is:

Choose an answer

Saucer shaped

Negative slope

U shaped

Flatter

The term "inflation" means:

Choose an answer

Rapid increase in price level

Decrease in price level

General increase in price level

Both a and c

Other things remaining the same, marginal utility of a commodity diminishes with its continuous consumption. This law is called

Choose an answer

Law of diminishing marginal utility

Law of equi marginal utility

Law of demand

Law of decreasing return

Who said that you can not become good citizen if you have no economist with you

Choose an answer

Marshall

Pigou

Keynes

Voton

The whom individuals Marshal included in definition of economics

Choose an answer

Service of teachers

People living in forests

Trading professionals

People living in caves

When average cost is minimum, marginal cost is - - - - - - - - average cost

Choose an answer

Less than

More than

Equal to

None of three

Which factor is helpful for earning more income ?

Choose an answer

Land

Labour

Capital

Organization

Exceptions, or limitations of law of demand have been stated by

Choose an answer

Professor Marshall

Professor Adam Smith

Professor Benham

Professor Robbins

If supply increase due to increase in price, it is called

Choose an answer

Extension of supply

Contraction of supply

Rise of supply

Fall of supply

Supply of goods depends on

Choose an answer

price

income

income and price

utility

More Classes

Other Links

Principles of Economics Icom Part 1 English Medium Online Test MCQs With Answers

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer