| 1 |
When a supply of a commodity increases without change in price it is called |
- A. fall in supply
- B. expansion in supply
- C. contraction in supply in
- D. rise in supply
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| 2 |
The quantities of a commodity offered for sale at different prices during a given period of time are called |
- A. Supply
- B. Demand
- C. Stock
- D. None of these
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| 3 |
One of the following is not a characteristics of economic laws. |
- A. Economic laws lack exactitude
- B. Economic laws lack predictability
- C. They are not universa!
- D. They are not optional
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| 4 |
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 |
- A. Supply
- B. Demand
- C. Stock
- D. None of these
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| 5 |
How many kinds of data? |
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| 6 |
Demands and supply curves cross at |
- A. always at 60 degree
- B. at 90 degree
- C. at equal angle
- D. at any angle
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| 7 |
In factor market, which statement is true |
- A. wages are determined by MP
- B. Rent is fixed by landlords
- C. interest rate is determined by Govt.
- D. profit is determined by luck
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| 8 |
The theory of optimum population was presentd by: |
- A. Cannon
- B. Hicks
- C. Keynes
- D. Malthus
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| 9 |
This is capital |
- A. money
- B. forests
- C. machinery
- D. trademarks
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| 10 |
Production in economic means |
- A. factors of production
- B. doing some job
- C. output of goods
- D. profit
|