Question # 1

The coins whose current price is greater than their intrinsic value, are called

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Standard coins

Paper money

Token money

Credit money

Income received without any economic services:

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National Income

Transfer payments

Interest

Profit

Supply of perishable goods e.g. groceries, fruit, meat etc is

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Less elastic

More elastic

Perfectly inelastic

Perfectly elastic

Utility of the last unit of a commodity consumed is called

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Positive utility

Negative utility

Total utility

Marginal utility

Usher is levied on

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Cash amount

Goats and sheep

Trading goods

Agricultural production

Zakat can not be given

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to get slaves free

To the collection of zakat

For the construction of Mosque

The converts

When supply changes due to other factors besides price, it is called

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Rise of supply

Fall of supply

Rise and fall of supply

Extension and contraction of supply

Inflation is useful for

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Labourer

Consumers

Industrialist

Pensioners

What functional relationship is present between demand and price

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positive

inverse

increasing

none of these

What type of nature of Zakat is

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Fixed

Non fixed

Elastic

Changes along with the change in income

Vertical supply curve means

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Same quantity supplied at differented price

Different quantities supplied at one price

Different quantities supplied at different prices

None of three

Absolute advantage theory was presented by

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Adam Smith

Prof Walker

Ricardo

Marshall

Elasticity of supply if perishable goods is

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Equal to unity

More than unity

Less than unity

Zero

If elasticity of supply is equal to unity then extending supply curve downward, it passes through or crosses

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y-axis

x-axis

Point of origin

Becomes vertical

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

The formula of calculating total revenue is

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P x Q

P x AC

AC x Q

TC / Q

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