Question # 1

With a fall in the price of a Giffen good or inferior good its quantity demand will.

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Fall

Rise

Remain unchanged

None of three

When the classify data on the basis of income there will be

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class intervals

class numbers

groups

sections

Utility is most closely related to the term

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useful

useless

necessary

satisfaction

All non materials products which can satisfy human wants are called.

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Economic goods

Services

Non-economics goods

Services

A professor is promoted to be a principle . What type of mobility will it be.

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Vertical mobility

Horizontal mobility

Geographical mobility

None of the three

The set of skills and abilities that workers possess for production of goods and serves is

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motivation

wealth

human capital

natural talent

It is most suitable for large scale business

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proprietorship

partnership

corporation

cooperative society

All inputs can be varied in

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short run

long run

both periods

non of the period

It describes the law of supply

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supply curve

supply schedule

supply equation

all the three

x = 5 y^-1 this is a.

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Constant function

Explicit function

Inverse function

Decreasing function

during short period, diminishing returns may follow because

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quantity of labour is fixed

quality of labour is fixed

quantity of capital is fixed

quantity of any one factor is fixed

Marginal revenue is always less than price at all levels of output in

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perfect competition

monopoly

both A and B

none of the above

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

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Remain constant

Decrease

Increase

None of the three

Market Price of Perishable

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Commodities

Utility

Consumer

None of these

Under perfect competition, demand for a factor is its

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MRP curve

ARP curve

TRP curve

TR - TC

Marginal revenue of a monopolist is

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equal to price

greater than price

less than price

increases with output

The kind of market is undesirable

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general market

specialized market

local market

monopoly market

Which is NOT a cause of slow capital formation in Pakistan

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poverty

illiteracy

bad governance

low rate of taxes

As out put increases, AC curve

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falls

rises

remains constant

all of the above

One of the following is not land.

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Sui gas

Electric power

Atlantic Ocean`

A river

The minimum wage is an example of

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price floor

price ceiling

equilibrium wage

efficiency of labour

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