Question # 1

Elasticity of demand for the commodities which have substitutes, is

Choose an answer

More elastic

Less elastic

Infinite

Zero

Second name of unitary method is

Choose an answer

Method of total satisfication

total expenditure method

total revenue method

Both 2nd and 3rd

Initial utility of a product is:

Choose an answer

Highest

Lowest

Constant

All of these

Monetary theory of trade cycle was given by:

Choose an answer

Joseph Schumpeter

Habson Foster

Jevons

Hawtray

In which year Kenyens wrote his book "General theory of employment, interest and money

Choose an answer

1929

1931

1934

1936

Factor of production which is used to earn more income, is called

Choose an answer

Land

Labour

Capital

Organization

Propounder of economics was

Choose an answer

Robbins

Marshall

Adam smith

Keynes

Functions of money are

Choose an answer

Medium of exchange

Common measure of value

Store of value

All the three

When demand for goods and services rises, then velocity of circulation of money

Choose an answer

Increases

Decreases

Remains constant

Does not change

According to Marshall, Economics is

Choose an answer

Social Science

Correcting science

Positive science

Moral science

Expenses of wears and tears of machinery are called

Choose an answer

Productive expenses

Non productive expenses

Wages

Depreciation expenses

Demand for basic necessities of life is:

Choose an answer

Perfectly elastic

Less elastic

Perfectly inelastic

More elastic

Which factor can not be stored

Choose an answer

Land

Labour

Capital

Organization

Which economist said that abundance of definitions has pressed the neck of economics

Choose an answer

Adam Smith

Robbins

Keynes

Pigou

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

Exact perdition not possible in:

Choose an answer

Economic laws

Science laws

Moral laws

Social law

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