Question # 1

It is a Federal Tax:

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Excise duty

Local tax

Property tax

None

Which Economists presented the law of diminishing marginal utility:

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Robbins

Malthus

Adam Smith

Marshall

Factors of production are:

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One

Three

Two

Four

Who is responsible for profit and loss in the business:

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Capitalist

Entrepreneur

Labour

Middleman

The other name of law of decreasing return is:

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Law of decreasing cost

Law of increasing cost

Law of constant cost

Law of increasing returns

The unity method of elasticity of demand was presented by:

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Adam Smith

Marshall

J.R Hicks

Pigeou

Reward for labour is:

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Interest

Wages

Profit

Rent

Slope of demand curve is:

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Negative

Zero

Positive

Fixed

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

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Service

Cost

Utility

None

The shape of AR and MR under perfect competition is:

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Vertical

U-shape

Horizontal to ox-axis

None of these

Who described Economics as a scienece of wealth:

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Piguo

Adam Smith

Robbins

Marshall

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