Question # 1

A change in price brings in quantity supplied. it will be.

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Rise in supply

Contraction of supply

Fall in supply

Extension of supply

Prof. Robins wrote a book in 1931 entitled.

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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.

Utility and usefulness are

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equal

different

opposite

unrelated

The concept of internal and external economics was given by.

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Adam Smith

Robbins

J.M.Keynes

Alfred Marshall

MU curve

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rises left to right

is always vertical

falls left to right

is always horizontal

If a public limited company issues bonds to increase resources, then it pays

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fixed premium to bond holders

fixed interest to bond holders

fixed tax to bond holders

fixed profit to bond holders

normative economics

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deals solely with the facts

is never studied in colleges

involves opinions and interpretations

is clearly preferable to positive economics

Indifference curves are convex to the origin because

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two goods are perfect substitutes

two goods are imperfect substitutes

two goods are perfect complementary goods

goods area jointly demanded

Marginal revenue of a monopolist is

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equal to price

greater than price

less than price

increases with output

This is a tool in economic studies

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market

price

firm

functional relation

Standard of living of a country can be raised if it increases

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labour force

production

money supply

exports

The law demand will not be valid in case of.

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Very high price products

Normal goods

Price effect

Income effects

Land means nature resources which are available.

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On the soil

Above the soil

Below the soil

All the above

A producers has one thousand tons of rice to be offered for sale at a certain price in future, it will be called.

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Supply of output

Production

Buffer stock

Stock

Land is

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hirable

not hirable

homogeneous

a form of capital

Habib Bank limited means that.

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Its capital is limited

It shareholders are limited

The liability of each shareholders is limited

Non of the three

Profits

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are lower in the long run than in the short run

can be negative

are less in perfect competition than in monopoly

all of the above

How many kinds of market?

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4

5

6

7

Net rent is also called.

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Different rent

Quasi rent

Scarcity rent

Economic rent

Average cost and marginal cost curves in the short-run are:

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Quadratic function

Linear function

Cubic function

Log function

The supply of land is fixed whereas its Demand is increase day by day, the rent Produced in this way is:

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Differential rent

Scarcity rent

Quasi rent

Economic rent

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