Question # 1

Who wrote The Nature and Significance of Economics"

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Adam simth

Marshall

Robbins

Keynes

What was the difficulty in the barter System:

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Excess of goods

Difference language

Lack of co-incidence

Difference in proffession

Ushr implies on:

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Agricultural product

Industrial product

Agricultural & industrial product

None of these

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

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

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Service

Cost

Utility

None

Consumer goods are those goods which are used by a man:

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Directly

Off and On

Indirectly

Never

Who described Economics as a scienece of wealth:

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Piguo

Adam Smith

Robbins

Marshall

In inflation prices:

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Increase

Do not change

Decrease

Become zero

Average revenue is equal to:

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Price

Marginal revenue

Total revenue

Average cost

The economy gets maximum prosperity during:

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Recession

Recovery

Boom

Depression

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NAT I General Science Economics MCQs With Answers

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