Question # 1

If two goods are complimentary, cross Elasticity of demand will be:

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Zero

Infinite

Positive

Negative

Want of a commodity is satisfied, when its marginal utility is

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Positive

Zero

Negative

Minimum

During boom, a government prepares budget which is

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Balanced

Surplus

Deficit

Unbalanced

Organization means an individual or institution which with optimum factor combination

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Lays foundation of business always earning profit

Lays foundation of business but does not accept the responsibility of profit and loss

Lays foundation of business but accepts the responsibility of profit and loss

Serves as a manger in the business and receives remuneration

"Purchasing power of money is inverse of level of prices. So study of purchasing power of money is identical with the study of level of prices." These are the words of

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Prof Irving Fisher

Prof Crowther

Prof Pigou

Prof Keynes

If a monopolist wants to increase the sale of its product, it will have to --------- the price of its good

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Decrease

Increase

Keep constant

None of the three

Study of small units of an economic system is called

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Micro economics

Macro economics

Applied economics

All the three

One of the following is not called land

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Rain

Mountain

Forests

Mangla Dam

Consumer's behaviour means:

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Selection

Purchase

Sale

Both (a) and (b)

The revenue collection of government and spending policy is called

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Monetary policy

Fiscal policy

commercial policy

Labour policy

Supply curve moves from left to right upward, this tendency is called

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Negative

Positive

Horizontal

Vertical

At equilibrium price, demand and supply

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Increase

Become equal

Decrease

are different

Unity method to measure elasticity of demand was presented by

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Adam smith

Robbins

Marshall

Keynes

If currency can converted into gold, it is called:

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Convertible paper money

Inconvertible paper money

Bank Money

Both a and b

Economics is a science which studies.

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Production of wealth only

Consumption of wealth only

Optimum use of scare resources

Welfare only

Capital goods are those which can satisfy human wants:

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Directly

Indirectly

Proportionate

None of these

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