Question # 1

Which is not studied in micro economics ?

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Theory of consumer behaviour

Price theory

Theory of money

Theory of distribution of wealth

That particular price below which price the seller is not ready to sell his commodity, is called

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Market price

Normal price

Reserve price

All the three

Who did present unity method to measure elasticity of demand

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Adam Smith

Marshall

Robbins

keynes

If we multiply margina product with price we get:

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MFC

MRP

TVC

Both a and b

Transfer payment means that income

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Which can move from one place to order place i.g. money etc.

Which is received without labour, e.g. Zakat, gift , pension etc

Which is received after hardwork

Which is received by exports

Next best alternative use of resources is known as:

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Implicit cost

Explicit cost

Opportunity cost

Sunk cost

______ is not considered perfect money

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Note of ten rupees

Note of hundred rupees

Piece of silver

Note of one thousand rupees

Methods of deriving economic laws are

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Two

Three

Four

Five

According to neo classical approach, output is the function of:

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Labour

Capital

Organization

Both (a) and (b)

When after the observation and analysis of the conditions, they are stated as they are, is called

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Normative science

Positive science

Vegetation science

Science of Prediction

Law of decreasing return is immediately applied on

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Agriculture

Trade

Industry

Construction

If the rate of change in price and quantity demand is in equal ratio, then Elasticity of demand is:

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Equal to zero

Equal to one

Smaller than one

Greater than one

Vertical supply curve means

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Same quantity supplied at differented price

Different quantities supplied at one price

Different quantities supplied at different prices

None of three

Unitary method is also known as:

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Total revenue

Total satisfaction

Total utility

Total expenditure

Increasing function of price is

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Demand

Supply

Utility

Cosnsumption

In law of increasing cost, marginal cost

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Increases

Decreases

Remains constant

Remains fixed

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