Question # 1

Barter economy means the economy in which no good is generally accepted and goods are exchanged with goods. This definition is stated by the

Choose an answer

Prof Marshall

Stanlay Fisher

Culberon

Walker

Duopoly refers to:

Choose an answer

Single seller

Two seller

Multiple sellers

Multiple buyers

The second name of law of constant return is

Choose an answer

Law of decreasing cost

Law of increasing cost

Law of cost

Law of constant cost

In macro economics, what kind of problems can be discussed

Choose an answer

International trade

Consumers behavior

Problems of a firm

Determination of price

After deducting direct tax from personal income, it is called

Choose an answer

National income

personal income

Disposable personal income

per capital income

In which year the book named "Principles of Economics" was written

Choose an answer

1805

1890

1903

1915

Quantity of a commodity which the consumers are ready to purchase at a particular price, is called

Choose an answer

Demand

Supply

Stock

Demand and supply

Demand for the commodities whose use can be postponed is

Choose an answer

Less elastic

More elastic

Perfectly inelastic

infinitely elastic

Inflation can be controlled by:

Choose an answer

Fiscal policy

Monetary policy

Trade policy

Both a and b

Economic point of view of the supporters of which school of thought is the name of feeling and mental state

Choose an answer

Classical

Neo classical

Ancient

Modern

Who does determine the reserve price

Choose an answer

Buyer

Seller

Government

District adminitration

Demand for factors of production is

Choose an answer

Direct

Derived

Positive

Negative

In case of horizontal supply curve, Es is:

Choose an answer

Mero than unity

Less than unity

Zero

Infinite

Demand for the goods which have different uses, is

Choose an answer

More elastic

Less elastic

Infinity

Zero elastic

Utility of the last unit of a commodity consumed is called

Choose an answer

Positive utility

Negative utility

Total utility

Marginal utility

In short average cost curve is:

Choose an answer

Saucer shaped

Negative slope

U shaped

Flatter

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