Question # 1

Which one can cause a change in demand

Choose an answer

change in income

change in supply

change in tastes

a and c of above

In monopoly at various output levels

Choose an answer

AR = MR

AR < MR

AR > MR

AR and MR curves are parallel

Normally MR curve intersects MC curve at points

Choose an answer

1

2

3

4

"The reward for a factor is determined by the marginal revenue product of the factor" . it was said by:

Choose an answer

J.M. Keynes

Taussing

Hansen

Carver

Habib Bank limited means that.

Choose an answer

Its capital is limited

It shareholders are limited

The liability of each shareholders is limited

Non of the three

Normal price is a price which prevails

Choose an answer

In day to day market

In domestic market

In the long run market

In a foreign market

Economic development of a country requires

Choose an answer

skilled lobour

diplomacy

abundant natural resources

a and c of aboce

Prof. Marshall thinks

Choose an answer

Economics studies national welfare

Economics studies personal welfare

Economics studies total welfare

Economics studies material welfare

Price elastic of demand measures

Choose an answer

change in price caused by changes in demand

the rate of change of sales

the responsiveness of demand to price changes

the value of sales at a given price

A joint stock company has

Choose an answer

limited liability

unlimited liability

limited capital

unlimited capital

Short run cost curves are.

Choose an answer

v-shaped

Dish-shaped

U-shaped

L-shaped

The total quantity of a commodity available in or near the market which can be brought for sale at a short notice

Choose an answer

Stock

Supply

Demand

None of these

A short period market is the market of.

Choose an answer

Perishable goods

Durable goods

Consumer goods

Capital goods

Three basic economics problems are

Choose an answer

what, how and for whom

why, where and when

what, which and how much

what, which and why

Which of the following is one of the assumptions of perfect competition.

Choose an answer

few buyers and few sellers

many buyers and few sellers

many buyers and many sellers

all sellers and buyers are honest

Joint stock company is manged and run by a

Choose an answer

Board of Directors

Shareholders

Accountant

None of these

Standard of living of workers depends upon their

Choose an answer

nominal wages

real wages

average product

govt. policy

Professor Knight is famous for his theory of

Choose an answer

rent

profit

population

wages

Who is unemployed

Choose an answer

housewife

college student

a peer who lives on gifts from mureeds

a freshly graduated engineer who is searching for a job

Unit cost is another name for

Choose an answer

MC

AVC

ATC

AFC

What best explains a shift in market supply curve to the right?

Choose an answer

an advertising campaign is successful in promoting the good

a new technique makes it cheaper to produce the good

the government introduces a tax on the good

the price of raw materials increases

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