Question # 1

When cross elasticity of demand for A and B is positive number, one can conclude that

Choose an answer

the goods are cheaper

the goods are inferior

the goods are substitutes

the goods are complements

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

Choose an answer

Vertical mobilty

Occupational mobility

Horizontal mobility

Social mobility

Rotten eggs are

Choose an answer

free good

economic good

service

wealth

The sacrifice of an alternative use of resources to produce something is called its

Choose an answer

real cost

opportunity cost

sacrifice cost

alternative cost

When there is big change in quantity supplied resulting from a minor change inits price,its elasticity of supply will be.

Choose an answer

Equal to unity

Less than unity

Equal to zero

Greater than unity

Scope of economics is defined as:

Choose an answer

Individual and aggregate economic behaviour of the people.

Subject matter of economics.

Welfare Economics.

All of the abpove

The law of demand will not be apply in case of

Choose an answer

Inferior goods

Superior goods

Normal goods

Non of them

How many various forms of capital

Choose an answer

7

8

9

10

The concept of internal and external economics was given by.

Choose an answer

Adam Smith

Robbins

J.M.Keynes

Alfred Marshall

WAPDA is a

Choose an answer

public corporation

public company

private company

partnership

Profits arise

Choose an answer

only in monopoly

because of uncertainty

shortage of goods

like interest

Unit cost is another name for

Choose an answer

MC

AVC

ATC

AFC

We establish ______ conditions for equilibrium

Choose an answer

2

3

4

5

A firm attains equilibrium under monopoly where:

Choose an answer

AR = MR

AC = MC

MR = MC

AR = AC

Economics laws

Choose an answer

must be followed

are hated by people

show economic behavior of people

are unscientific

The theory of optimum population was presentd by:

Choose an answer

Cannon

Hicks

Keynes

Malthus

How many Kinds of variables?

Choose an answer

There are many kinds of variables

There are 2 kinds of variables

There are 3 kinds of variables

There are 4 kinds of variables

This is capital

Choose an answer

money

forests

machinery

trademarks

Law of equimarginal utility is also called.

Choose an answer

Law of substitution

Law of maximum social benefits

Law of economy

Law of maximum satisfaction

The price and sales of sugar both increase. What could be the cause of this?

Choose an answer

a decrease in the income of the consumers.

a decrease in the tax on sugar

An increase in the wages of workers in the sugar industry

An increase in the price of sugar substitutes

Which one is the non-economic activity.

Choose an answer

Service of a doctor

Morning walk

Service of teacher

Service of an advocate

More Classes

Other Links

Economics Ics Part 1 English Medium Online Test MCQs With Answers

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer