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NAT I Commerce Economics MCQs With Answers
Question # 1
Consumer goods are those goods which are used by a man:
Choose an answer
Directly
Off and On
Indirectly
Never
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Question # 2
Canons of taxation describes
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Marshall
Keynes
Robbins
Adam Smith
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Question # 3
Factors of production are:
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One
Three
Two
Four
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Question # 4
What is deducted from GNP to find GDP.
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Depreciation allowance
Net income received from abroad
Indirect tax
Transfer payments
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Question # 5
According to law of diminishing marginal utility the marginal utility:
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Increases
Remains constant
Diminishes
Negative
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Question # 6
Slope of demand curve is:
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Negative
Zero
Positive
Fixed
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Question # 7
Which Economists presented the law of diminishing marginal utility:
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Robbins
Malthus
Adam Smith
Marshall
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Question # 8
Income elasticity show the relationship between:
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Income and demand
Income and consumption
Income and price
Income and saving
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Question # 9
The other name of law of diminishing return is:
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Law of supply
Law of diminishing marginal utility
Law of demand
Law of increasing cost
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Question # 10
In monopoly the number of firms is:
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One
Three
Two
Unlimited
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