| 1 |
If price of a commodity constant but its supply increases or price decreases but supply remains constant, it is called |
- A. Rise of supply
- B. Fall of supply
- C. Extension of supply
- D. Contraction of supply
|
| 2 |
According to which economist, some factors are indivisble |
- A. Adam Smith
- B. Marshall
- C. Davenport
- D. Hobson
|
| 3 |
Which one is comparatively the most important factor ? |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 4 |
Tractor, harvester, thrasher etc are the examples of factor of production |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 5 |
When marginal product is zero, total product is |
- A. Maximum
- B. Minimum
- C. Negative
- D. Zero
|
| 6 |
The demand curve for monopolist is also called |
- A. Total revenue
- B. Average revenue
- C. Marginal revenue
- D. Zero revenue
|
| 7 |
Net national product is found by |
- A. Subtracting tax from gross national product
- B. Subtracting transfer payments form gross national product
- C. Subtracting depreciation allowance from gross national product
- D. Subtracting subsidies from gross national product
|
| 8 |
According to Marshall, Economics is |
- A. Social Science
- B. Correcting science
- C. Positive science
- D. Moral science
|
| 9 |
Which law provides the base of law of demand |
- A. Law of supply
- B. Law of diminishing marginal utility
- C. Law of equi marginal utility
- D. Law of decreasing return
|
| 10 |
To derive economic laws inductive method was adopted by |
- A. Classical school of thought
- B. Neo classical school of thought
- C. Historical school of thought
- D. Modern school of thought
|