Question # 1

Which economist did present, cardinal theory of utility

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Marshall

Karoos

Cannon

J.B. Say

If everybody pays tax according to his financial position, it is said

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canon of convenience

canon of Equality

canon of Economy

canon of simplicity

Law of decreasing return is immediately applied on

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Agriculture

Trade

Industry

Construction

When marginal utility is positive, total utility:

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Decreases

Increases

Zero

All of them

In which year the book named "Principles of Economics" was written

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1805

1890

1903

1915

If the rate of change in price and quantity supplied is equal then:

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Es = 0

Es = 1

Es > 1

Es < 1

If demand and supply both rise in the same proportion, then

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Equilibrium price decreases

Equilibrium price does not change

Equilibrium price increases

Equilibrium quantity decreases

At last, indirect tax is paid by

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Shopkeeper

Entrepreneur

Customer

Whole-seller

Demand for basic necessities of life is:

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Perfectly elastic

Less elastic

Perfectly inelastic

More elastic

One of the following is not included in the branches of public finance

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Public revenue

Welfare of the people

Public expenditure

Public debt

Supply curve slope is:

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Positive

Vertical

Negative

Horizontal

Economics is concerned with the attainment of material requisites

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Robbins

Marshall

Pareto

Senior

A firm is in equilibrium when its

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Marginal revenue is equal to marginal cost

Marginal revenue is more than marginal cost

Marginal revenue is less than marginal cost

Marginal revenue is equal to average cost

In case of rise in demand, demand curve shifts:

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Right side

Downward

Upward

(a) and (c)

Economics studies human behaviour from

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Individual angle

Collective angle

Individual & Collective angle

None

The expected rate of profit from a business is known as:

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Multiplier

Accelerator

Marginal efficiency of capital

Both a and b

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