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Economics Ics Part 1 English Medium Online Test
| Sr. # | Questions | Answers Choice |
|---|---|---|
| 1 | According to Alfred Marshall, Economics should be taken as: | Positive economics Normative economics Welfare economics Applied economics |
| 2 | Scope of economics is defined as: | Individual and aggregate economic behaviour of the people. Subject matter of economics. Welfare Economics. All of the abpove |
| 3 | Economic problems arises because of. | Unlimited wants. Scarcity of resources. Alternative use of resources. All of the above |
| 4 | Which of the following is the subject matter of Economics. | Optimum use of limited resources for the satisfaction of unlimited human wants. Economic problems of the developing countries. Labour problems. Balance of payment problems. |
| 5 | Prof. Robins wrote a book in 1931 entitled. | General Theory of employment. Interest and money. An inquiry into the nature and causes of wealth of nations. Principle of economics. Nature and Significance of economic science. |
| 6 | One of the following is not a part of macro economics. | Public finance International trade. Consumer behaviour. National income. |
| 7 | One of the following is not studied in Micro economics. | Equilibrium to the firm Distribution of rewards to factors of productions Banking system Market equilibrium |
| 8 | Which one is not doing an economic activity. | One who is offering prayers. One who works for wage. One who rents out his property . One who is an employee of Government |
| 9 | Who was the exponent of welfare economics. | Alfred Marshall. Adam smith. Lionel Robbins J.M. Keynes. |
| 10 | Economics laws are: | Statements of tendencies in economic behaviour Unrealistic to deal with real economic problems. Absolute and certain like the laws of physical science Used to forecast the growth rate of an economy. |
| 11 | Economics is a science which studies. | Distribution of income Optimum use of scarce resources. Production of wealth only Exchange of wealth only |
| 12 | Market demand curve is a summation of all individual demand curves as | Vertical horizontal mathematical local |
| 13 | If demand has unit price elasticity, a change in price causes | increase in total revenue decrease in total revenue no change in total revenue indeterminate |
| 14 | To say that two goods are unrelated, their cross price elasticity of demand should be | less than 0 greater than 0 equal to 0 1 |
| 15 | Which one is not determinant of demand | tastes income method of production price |
| 16 | If price elasticity of demand is very low, the commodity is | necessity luxury substitute not available |
| 17 | Cross elasticity of Suzuki and Honda cars will be | Positive negative zero infinite |
| 18 | A horizontal demand curve has a price elasticity of | zero infinity 1 variable |
| 19 | A seller can increase his sales revenue by charging a lower price, if the demand has | e < 1 e = 1 e > 1 e = 0 |
| 20 | Which one can cause a change in demand |
change in income change in supply change in tastes a and c of above |
