Question # 1

Under certain conditions, slope of demand curve is

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Negative

Positive

Zero

Fixed

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

The percentage part of the agricultural produce is payable as Zakat which is irrigated by natural water

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5%

10%

15%

20%

Which combination of the following is of joint demand

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Tea and coffee

Petrol and car

Meat and grocery

Inkpot and book

Self owned resources are known as:

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Implicit cost

Explicit cost

Opportunity cost

Sunk cost

National income at factor cost is equal to:

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G.N.P - Subsidies + taxes

N.N.P - Direct tax + Subsidies

G.D.P - Subsidies + taxes

N.N.P - Indirect tax + Subsidies

The goods on which law of demand does not apply, are called

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Services

Goods and services

Giffin goods

Capital goods

Study of large units of the economy is known as:

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Micro economics

Macro ecnomics

Applied economics

All of them

If supply curve is vertical (parallel to y-axis), then elasticity of supply is

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Zero

Infinite

Equal to unity

More than unity

Relationship of value of money with quantity of money is

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Direct

Indirect

Inverse

Positive

The money which is not in the form of net cash and is not used at once for business dealing is called

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Near money

Legal Tender money

Credit money

Paper money

The salient features of trade cycle are:

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National in nature

International in nature

Domestic in nature

All of these

Firm earns maximum profit at the point where

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Difference between total costs and total revenue is highest and the total revenue curve is above

Total costs and total revenue curves intersect each other

Total costs curve is above the total revenue curve

Difference between total costs and total revenue is minimum

Some inferior goods having expensive substitutes are known as:

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Economic goods

Giffen goods

Non-economic goods

Free goods

Who said that utility cannot be measured

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Adam smith

Marshall

Keynes

Hicks

Who did give economics the status of positive science

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Marshall

Robbins

Cannon

Pareto

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