Question # 1

With decrease in price of bonds, rate of interest

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decreases

increases

does not change

none of the above

Goods which can satisfy human wants are.

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Consumer goods

Capital goods

Social goods

Public goods

Which of the following is a demand function?

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Q + 4P = 20

Q = 35 + 3P

Q - 2P - 15 =0

5P - Q = 4

When marginal utility of a product is zero its total utility will be.

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Increase

Decreasing

Maximum

Constant

The basic goal of a firm is to

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maximize revenues

maximize employees' welfare

maximize profit

maximize output

Wants are unlimited for:

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Poor person

Rich person

All persons

None of them

Which statement is true?

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Economics is a physical and normative science

Economics is a social and natural science

Economics is physical and positive science

Economics is a social and normative science

Under perfect competition, demand for a factor is its

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MRP curve

ARP curve

TRP curve

TR - TC

When both demand and supply fall in equal proportions, price of the product will .

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Fall

Rise

Remain the same

None of the above

A statement of how one variable affects other variable is

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a quadrant

a variable

an assumption

a functional relationship

Saqib graduated one month ago. He is still unemployed. His unemployment is

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structural

frictional

seasonal

personal

Which of the following is NOT capital as economists use the term

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an office building

machinery in a factory

an industrial robot

money

Sometimes the supply curve of labour bends

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downward

upward

backward

firstly upward and then downward

If we plot the equation y = 20 +3x, its slope is

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20

3

20/3

Indeterminate

The supply curve of day to day market is.

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Touching the horizontal axis

Touching the vertical axis

Perfactly elastic

Perfactly inelastic

All the products which are priced in the market are.

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Non economic products

Economic products

Private products

Public products

A variable is a symbol which, during a discussion, may assume different values or a set of admissible values. This is the definition of

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Prof. Kooros

Prof. Marshall

Prof. Rabbins

Prof. Kneez

Which is NOT a cause of slow capital formation in Pakistan

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poverty

illiteracy

bad governance

low rate of taxes

The first law of consumption was presented by.

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Robert Malthus

Loinel Robbins

Alfred Marshall

Pareto

Marginal revenue products (MRP) curve falls when units of labour

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Remain constant

Decrease

Increase

None of the three

A firm attains equilibrium under monopoly if:

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MC curve intersect MR curve from below. MC = AC = MR

MC curve intersects MR from above

Any one of the above situations

AR = MR

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