Question # 1

The unity method of elasticity of demand was presented by:

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Adam Smith

Marshall

J.R Hicks

Pigeou

When price falls supply:

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Expands

Remains zero

Contrasts

Become fixed

International trade has the benefits:

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One

Unlimited

Two

Three

The quality of a good which satisfies a human want is called as:

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Service

Cost

Utility

None

The elasticity of demand of durable good is:

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More than unity

Equal to unity

Less than unity

Zero

The shape of AR and MR under perfect competition is:

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Vertical

U-shape

Horizontal to ox-axis

None of these

During a year aggregate value of produced goods and services of a country is called:

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Per-capita income

Net national income

Personal income

Gross national product

Which economist presented the Cardinal Theory of Utility:

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Marshall

Canon

Kroose

J.B Say

Who described Economics as a scienece of wealth:

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Piguo

Adam Smith

Robbins

Marshall

Who criticized Prof.Robbin's definition?

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Marshall,J.B

Beveridge

Clark

Pigeou

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