Question # 1

In mathematics, symbol for utility is used

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U

M

X

Y

If supply decreases due to decrease in price, it is called

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Extension of supply

Contraction of supply

Rise of supply

Fall of supply

What type of nature of Zakat is

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Fixed

Non fixed

Elastic

Changes along with the change in income

Concept of equilibrium level of national income in comprehensive way was presented by

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Professor keynes

Professor Marshall

Professor hicks

Professor Lipsay

In a production process, when units of variable factors along with fixed factor of production are increased, marginal cost goes on rising, this tendency in economics is called

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Law of decreasing cost

Law of constant cost

Law of increasing cost

Law of increasing return

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

The whom individuals Marshal included in definition of economics

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Service of teachers

People living in forests

Trading professionals

People living in caves

When average product increase, marginal product

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Decreases

Is zero

Is negative

Also increases

Which economist said that the term demand for money should be used instead of circulation of money

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Prof Keynes

Prof Marshall

Prof Crowther

Prof Fisher

Marginal utility curve moves

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From left to right downward

From left to right upward

Parallel to ox axis

Parallel to oy axis

The formula of calculating total revenue is

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P x Q

P x AC

AC x Q

TC / Q

When average cost curve is rising, then marginal cost curve

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Remains below it

Remains above it

Remains parallel to it

Is vertical

To the name of which economist, canons of taxation are attributed

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Adam smith

Robbins

Pigou

Keynes

In a production process, when units of variable factors along with fixed factor of production are increased marginal cost goes on falling, this tendency in economics is called

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Law of decreasing cost

Law of increasing cost

Law of constant cost

Law of decreasing return

Economics is basically divided into two parts

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Micro and macro economics

Micro and applied economics

Theoretical and applied economics

Welfare and applied economics

Which is considered as a transfer payment

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wages

salaries

prices

unemployment allowances

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