Question # 1

When average product falls marginal product

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Rises

Also falls

Remain equal to average product

Does not change

When supply rises more than demand price of the product will.

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Rise

Fall

Remain unchanged

Non of the three

Robbins definition of economics spell out the existence of

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Economics problem

Social problem

Political problem

Moral problem

Risks in the business arise because of

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introduction of the new products

uncertain policy of rival firms

changes in tastes

all the above

The talent of a professor is .

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National wealth

International wealth

Personal wealth

Non of them

MRP curve of a factor represents the.

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Supply curve of the factor

Demand curve of the factor

Either demand or supply curve of the factor

None of the three

Micro economics concentrates

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on inflation

international economics relations

individual economics units

economics development of Pakistan

The cost which a firm incurs for purchasing or hiring factors is called

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implicit

explicit

real

basic

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

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labour force

production

money supply

exports

Net rent is also called.

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Different rent

Quasi rent

Scarcity rent

Economic rent

Which on of the following represents fixed cost:

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Price of raw material

Wages

Interests on loan

Rent of land

All factors of production are substitutable with each other. it is held by:

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Wicksteed

Hicks

Pareto

All inputs can be varied in

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short run

long run

both periods

non of the period

The theory of optimum population was presentd by:

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Cannon

Hicks

Keynes

Malthus

To measure changes in purchasing power of money, we use

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percentages

index numbers

averages

variables

A schedule of the amount of a good that would be offered for sale at all possible prices, at any one instant of time or during any period of time are called

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Supply

Demand

Stock

None of these

The law of variable proportions was presented by.

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Jevens

Rayon

Hicks

Valentine

Pakistan population is growing a rate of .

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2 % per annum

1. 8 % per annum

2.9 % per annum

2.2 % per annum

It is an example of public limited company

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WAPDA

President House

SHELL petroleum

none of the above

Total profit = ?

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Per unit profit x output

Per unit profit x input

Per unit profit + output

per unit profit - input

General price level and real income of the people are correlated with each other

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Negatively

Positovely

Normally

Sub normally

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