Question # 1

The methods of measuring elasticity of supply are:

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Three

Two

Four

Five

International trade has the benefits:

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One

Unlimited

Two

Three

Who described Economics as a scienece of wealth:

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Piguo

Adam Smith

Robbins

Marshall

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

How many methods can be used for cultivation

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One

Two

Three

Four

In monopoly the number of firms is:

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One

Three

Two

Unlimited

Who is the writer of Wealth of Nation?

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Marshall

Adam Smith

Robbins

Keynes

Income elasticity show the relationship between:

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Income and demand

Income and consumption

Income and price

Income and saving

Average revenue is equal to:

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Price

Marginal revenue

Total revenue

Average cost

The supply of land is:

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Infinity

Fixed

Variable

Zero

Slope of demand curve is:

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Negative

Zero

Positive

Fixed

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NAT I General Science Economics MCQs With Answers

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