Question # 1

Social stagnation is a big obstacle to.

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Mobility of labour

Division OF labour

Efficiency o labour

All the above

Rotten eggs are

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free good

economic good

service

wealth

It describes the law of supply

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supply curve

supply schedule

supply equation

all the three

To say that two goods are unrelated, their cross price elasticity of demand should be

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less than 0

greater than 0

equal to 0

1

The talent of a professor is .

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National wealth

International wealth

Personal wealth

Non of them

Profits arise because an entrepreneur

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prepares plan

innovates

lends money

a and b of above

A labourer resigns from service to start his own business. what type of mobility will it be.

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Vertical mobilty

Occupational mobility

Horizontal mobility

Social mobility

A competitive firm is in equilibrium in the long-run where:

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ME = AR = LMC = P

MR = AR = LMC = LAC

MR < AR = LMC <LAC

None of the three

Total fixed cost curve is .

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Parallel to the vertical axis

Parallel to the horizontal axis

Sloping downward to the right

Sloping upward to the right

The concept of quasi rent was given by.

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Ricardo

Adam smith

Alfred Marshall

Robbins

"The reward for a factor is determined by the marginal revenue product of the factor" . it was said by:

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J.M. Keynes

Taussing

Hansen

Carver

A ______ is something which is measurable and can take on different values

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Variable

Constant

Both a and b

None of these

During a particular year farmers experienced a dry weather, if all other factors remain constant, farmers supply curve for wheat will shift to

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rightward

leftward

downward

no direction

Excise tax is a part of

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fixed cost

variable cost

implicit cost

in not a part of cost

All labour is

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homogeneous

heterogeneous

lazy

intelligent

Profit = ?

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TR - TC

TR - MC

TC - MC

TR + TC

Ten rupees is the equilibrium price for good Z. If govt. fixes price at Rs. 5, there is

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a shortage

a surplus

excess supply

loss

Market demand curve is a summation of all individual demand curves as

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Vertical

horizontal

mathematical

local

How many kinds of data?

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2

3

4

5

An important factor which promotes large scale production is:

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Extant of market

Revolutionary changes in social life

Culture and civilization

All the three

An example of natural resource is

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factory

skilled doctor

oil reserves in the ground

oil reserves in storage tank

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