Question # 1

Total utility is maximum when marginal utility is

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Positive

Negative

Zero

Minimum

During the phase of boom level of income and employment is

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Increasing

Decreasing

Highest

Lowest

Monetary theory of trade cycle was given by:

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Joseph Schumpeter

Habson Foster

Jevons

Hawtray

According to Robbins, the basic concept of Economics is

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Political problem

Economic problem

Psychological problem

Religious problem

A good thing in private finance

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Expenditures are equal to income

Expenditure are more than income

Income is more than expenditures

a and b both

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

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Negative

Positive

Horizontal

Vertical

The interaction of multiplier and accelerator is known as:

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Innovation theory

Modern theory

Psychological theory

Over investment theory

Mental or physical work undertaken for reward by human being is called

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Land

Labour

Capital

Organization

Inflation will be useful for

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Labourers

Consumers

Penioners

Industrialist

One of the following is invisible item of balance of payment

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Import of motor cars

Exports of cotton

Expenditure of passengers traveling by air

Private investment in foreign country

A firm is in equilibrium when its

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Marginal revenue is equal to marginal cost

Marginal revenue is more than marginal cost

Marginal revenue is less than marginal cost

Marginal revenue is equal to average cost

Zakat means

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Growth

Purification

Tax

Both 1st and 2nd

Prof Fisher presented quantity theory of money in the form of an equation in

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1905

1911

1915

1917

If demand for a commodity changes due to change in price of its substitute, it is called

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Price elasticity

Point elasticity

Cross elasticity

Arc elasticity

Flux method is also known as:

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Percentage method

Unitary method

Total expenditure method

All of them

Who did present unity method to measure elasticity of demand

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Adam Smith

Marshall

Robbins

keynes

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

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