Question # 1

Which theory is generally included under micro economics?

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Price Theory

Income theory

Employment Theory

None of these above

Which of the following best expresses the law of demand:

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A high price reduces demand

A lower price reduces demand

A higher prices reduces quantity demanded

A lower prices shifts the demand curve to the right

''The State in which all authority and powers are vested in a single center, whose will and agents are legally omnipotent over the whole are'' is known as:

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Unitary Government

F3ederal Government

Parliamentary Government

Presidential Government

The maximum price that a consumer is willing to pay for a good is called:

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The reservation price

The market price

The first degree price

The block price

Which country is the largest wheat producing country of the world?

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India

China

America

Switzerland

When total utility becomes maximum then marginal utility will be:

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Minimum

Average

Zero

Negative

GNP is always

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Less than NN

Greater than NNP

Equal to NNp

Any of A,b,c

Which of the following is not a direct tax?

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Income tax

Property tax

Sales tax

House tax

Which of the following country's economy is know as high economy?

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America

U.K

Singapore

All of these

PIN stand for:

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Personal Identification Number

Pass Identification Number

Personal Ideological Number

None of the above

'From each according to his ability, to each according to his need' is the theoretical slogan of which system?

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Communist system

Capitalist system

Fascist system

None of these

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