Question # 1

The demand curve for monopolist is also called

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Total revenue

Average revenue

Marginal revenue

Zero revenue

Laws which reflect religion of society

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Economic laws

State laws

Scientific laws

Moral laws

Net foreign income means:

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Import - Exports

Exports - Imports

Import + Exports

Income from imports

The price of non-economic want is always:

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Very high

Very Low

Negative

Zero

Over investment theory is presented by

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Pigou

Hawtray

Hayek, Mises and Cassel

Prof Jugglar

A firm is in equilibrium, where:

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AR = MR

AC = MC

AC = MR

MC = MR

In how many parts professor Adam smith divided his book "Wealth of nations"

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Two

Three

Four

Five

If demand for commodity X changes due to the change in price of commodity, it is called

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Cross elasticity

Price elasticity

Income elasticity

Arc elasticity

Price discrimination policy refers to:

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Single price

Two prices

Multiple prices

None of these

When there is deflation, then prices

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Increase

Decrease

Remain constant

do not change

Deductive method of deriving economic laws

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We move from general conditions to particular conditions

We move from particular conditions to general conditions

Stated in general way

Different incidents are kept in view

The sector of production, in which nature and human beings play an equal role, there is applicable

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Law of decreasing return

Law of decreasing cost

Law of increasing return

Law of constant return

Number of factors of production is

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One

Two

Three

Four

"National income is that part of material wealth of a nation which can be measured by the scale of money" This definition of national income is stated by the economist

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Marshall

Pigou

Adam smith

Clark

One of the following is not the difficulty of the barter system

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Indivisibility of goods

Lack of common measure of value

Double coincidence of wants

Lack of store of value

Marginal utility always:

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Decreases

Increases

Zero

Negative

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