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NAT I Commerce Economics MCQs With Answers
Question # 1
Average revenue is equal to:
Choose an answer
Price
Marginal revenue
Total revenue
Average cost
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Question # 2
Personal income means:
Choose an answer
Own income
Family income
Govt.income
Old income
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Question # 3
Reward for capital is called:
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Rent
Interest
Wages
Profit
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Question # 4
Who is responsible for profit and loss in the business:
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Capitalist
Entrepreneur
Labour
Middleman
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Question # 5
Which Economists presented the law of diminishing marginal utility:
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Robbins
Malthus
Adam Smith
Marshall
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Question # 6
What was the difficulty in the barter System:
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Excess of goods
Difference language
Lack of co-incidence
Difference in proffession
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Question # 7
It is a Federal Tax:
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Excise duty
Local tax
Property tax
None
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Question # 8
Consumer goods are those goods which are used by a man:
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Directly
Off and On
Indirectly
Never
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Question # 9
Who wrote The Nature and Significance of Economics"
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Adam simth
Marshall
Robbins
Keynes
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Question # 10
The unity method of elasticity of demand was presented by:
Choose an answer
Adam Smith
Marshall
J.R Hicks
Pigeou
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Question # 11
International trade has the benefits
Choose an answer
One
Three
Two
Unlimited
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