| 1 |
If a farmer moves from village to a town and establishes a small factory, it is a kind of mobility |
- A. geographical
- B. occupational
- C. social
- D. all of the above
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| 2 |
Marginal land or no rent land is the land which: |
- A. Covers the cost of productions only
- B. Determines rent of the superiorlands
- C. Both a & b
- D. None of the three
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| 3 |
Wealth of Nations was written in |
- A. 1976
- B. 1876
- C. 1776
- D. 1676
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| 4 |
The reward of their services cannot be fixed |
- A. wage earner
- B. rent receiver
- C. interest receiver
- D. profit earner
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| 5 |
The concept of internal and external economics was given by. |
- A. Adam Smith
- B. Robbins
- C. J.M.Keynes
- D. Alfred Marshall
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| 6 |
Law of equi marginal utility provides basis for. |
- A. Equal distribution of wealth
- B. Economy in taxation
- C. Law of diminishing returns
- D. Law of constant returns
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| 7 |
One of the following will not be capital. |
- A. Mchinery
- B. Means of communication
- C. Water falls
- D. Means of transportation
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| 8 |
When price is fixed below equilibrium level, there will be |
- A. surplus commodity in the market
- B. shortage of commodity in the market
- C. supply curve will shift
- D. demand curve will shift
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| 9 |
A firm decides to shut down production temporarily when |
- A. MC start rising
- B. AC stat rising
- C. price = AC
- D. price falls below AVC
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| 10 |
Quasi rent is a: |
- A. Short-run phenomenon
- B. Long-run phenomenon
- C. Short and long run phenoomenon
- D. None of the three
|