Question # 1

When the demand of a product rises due to factors except price it will be.

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Extension of demands

Rise of demand

Contraction of demand

Extension of demand

When the price of a product increase by 100 percent and as a consequence, its quantity supplied increase by 125 percent, Its elasticity of supply will be.

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Less than unity

Greater than unity

Equal to unity

Equal to zero

One of the following is not a part of macro economics.

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Public finance

International trade.

Consumer behaviour.

National income.

Wealth of Nations was written by

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Adam Smith

Malthus

Marshall

Newton

Assumptions of a law are called:

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Constant

Parameters

Variables

Dependent variable

Long-run supply curve of labour is.

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Negatively stoped

Positively sloped

Parallel to the horizontal axis

Parallel to vertical axis

The word "LIMITED" at the end of a firm's name means

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it produces only commodity

has limited capital

cannot have more than 100 members

shareholders liability to pay debt of firm cannot exceed value of their investment

______ is a science which is concerned with the collection, presentation, and interpretation of numerical data

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Statistics

Economics analysis

Function

None of these

Scarcity of goods means

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non availability of goods

high price of goods

People don't want to get such goods

the good is available but it is not free

Efficiency of labour is not affected by

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attitude of worker

attitude of employer

attitude of wife/husband

all affect

It is most suitable for large scale business

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proprietorship

partnership

corporation

cooperative society

The law demand will not be valid in case of.

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Very high price products

Normal goods

Price effect

Income effects

The most efficient scale of production of a firm is where

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LAC is minimum

SAC is minimum

LMC is minimum

SMC is minimum

The demand for a factor depends on its.

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MRP

ARP

MRP = ARP

MRP < ARP

The relationship between two variables that move in the same direction is called

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neutral

positive

independent

dependent

Law of diminishing returns applies more in:

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Industry

Agriculture

Mining

Construction

When a supply of a commodity increases without change in price it is called

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fall in supply

expansion in supply

contraction in supply in

rise in supply

Internal economies of scale include

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risk-bearing economics

trade mark

managerial economies

a and c of above

Rice mill is a :

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Fixed capital

Floating capital

Sunk capital

None of the three

The demand for a factor is called.

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Composite demand

Joint demand

derived demand

No demand

Some economists say that profit earner is a kind of

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rent receiver

interest receiver

wage earner

govt. officer

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