Question # 1

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

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Public finance

International trade.

Consumer behaviour.

National income.

In Pakistan rate of labour participation is

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13%

23%

33%

43%

Which one is the non-economic activity.

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Service of a doctor

Morning walk

Service of teacher

Service of an advocate

To promote capital investment in a country, what is essentially required is.

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Basic infrastructure

Bank credit

Law and ordered

Stock broker

The shape of marginal revenue product (MRP) curve is

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Inverted U

Steeper

Flatter

Positive

The first law of consumption was presented by.

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Robert Malthus

Loinel Robbins

Alfred Marshall

Pareto

Which of the following is example of external economies of scale?

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Discount on purchases of raw materials

Technical progress leads to development of machines at low price

Hiring of specialized staff due to increase in scale of production

A firm starts producing by products

Geographical mobility is not possible for

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land

labour

capital

wealth

Choose the correct condition of equilibrium of firm

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MC = MR

MC curve cuts MR curve from below

Both a and b

MC + MR - AR

In economics, one or more persons sharing common consumer budget is called

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social group

consumer union

organisation

household

Labour input includes

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inventor

innovator

unskilled worker

all of the above

One of the following is not an exception to the law of diminishing marginal utility .

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Money

Knowledge

Music

Non of them

The concept of internal and external economics was given by.

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Adam Smith

Robbins

J.M.Keynes

Alfred Marshall

The basic goal of a firm is to

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maximize revenues

maximize employees' welfare

maximize profit

maximize output

Specialization of labour has the advantage.

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increased production

introduction of new technology

increases in self-sufficiency

a and b of above

Who present the Arc Elasticity formula for the measurement of elasticity of demand.

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R.G.D Allen

Pareto

J.R. Hicks

Robbins

.Which one is not an economic want.

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Want for food

Want to be a doctor

Want to fall in love

Non of the above

The following are causes of shift in demand EXCEPT the one

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change in income

change in price

change in fashion

change in prices of substitutes

In case of monopoly

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marginal revenue curve always slopes upward

total revenue curve always slopes upward

marginal revenue is always equal to average revenue

marginal revenue is always less than average revenue

The law of variable proportions was presented by.

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David Ricords

Alfred Marshall

W.J.L. Ryan

Pareto

______ 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

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