Question # 1

Unitary method for Elasticity of demand was presented by:

Choose an answer

Marshall

Keynes

Robbins

Adam smith

"A trade cycle is fluctuation in employment, production and prices" This definition of Trade cycle is stated by

Choose an answer

Prof Keynes

Prof Mitchall

Prof Hanson

Prof Haberler

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

Choose an answer

Public revenue

Welfare of the people

Public expenditure

Public debt

The second name of law of increasing return is

Choose an answer

Law of cost

Law of increasing cost

Law of decreasing cost

Law of constant cost

Note of 500 rupees is

Choose an answer

token money

credit money

convertible paper money

inconvertible paper money

If an entrepreneur does service, in economics it is called

Choose an answer

Organization

Discipline

Labour

Wage

One of the following is not included in implicit cost

Choose an answer

Interest of entrepreneur's own capital

Rent of building

Reward of entrepreneur's own labour

Reward of entrepreneur's own land

Tractor, harvester, thrasher etc are the examples of factor of production

Choose an answer

Land

Labour

Capital

Organization

Who is called founder of modern school of thought

Choose an answer

Robbins

Cannon

Keynes

Malthus

"The study of nature and principles of government expenditures and revenue is called public finance"
This definition is stated by

Choose an answer

Bastable

Armitage Smith

Ricardo

Robbins

One of the following is non economic want:

Choose an answer

Car

Bike

Fan

Self respect

If total expenditure of the consumer decreases due to increase in price, then nature of elasticity of demand will be

Choose an answer

Equal to unity

Less than unity

More than unity

Elasticity of demand = zero

The slope of MR curve in monopoly is

Choose an answer

Vertical

Increasing

Horizontal

Negative

The amount of money which a firm gets by selling a particular quantity of output, is called

Choose an answer

Average revenue

Marginal revenue

Total revenue

Fixed cost

Supply of goods depends on

Choose an answer

price

income

income and price

utility

Reward of Land is called.

Choose an answer

Rent

Wage

Interest

Profit

More Classes

Other Links

Principles of Economics Icom Part 1 English Medium Online Test MCQs With Answers

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer