Question # 1

Monopoly is opposite to

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Perfect competition

Imperfect competition

Perfect competition and imperfect competition both

Oligopoly

The trade that takes place between the individuals living in different areas of a country is called

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Domestic trade

International trade

Foreign trade

Regional Trade

During depression

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Employment increases

Prices decrease

Profit increases

Prices increase

Flux method is also known as:

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Percentage method

Unitary method

Total expenditure method

All of them

At last, indirect tax is paid by

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Shopkeeper

Entrepreneur

Customer

Whole-seller

"Principles of Economics" was written by.

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Adam smith

Marshall

Robbins

Canon

Advantages of international trade are

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One

Two

Three

Many

All the factors of production can be hired except

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Land

Labour

Capital

Organization

Utility attained by all the units of a commodity consumed

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Positive utility

Negative utility

Total utility

Marginal utility

During depression, a government prepares budget which is

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Balanced

Surplus

Deficit

Unbalanced

When supply curve shifts rightward or down it is called

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Rise of supply

Fall of supply

Extension of supply

Contraction of supply

Which economist did present, cardinal theory of utility

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Marshall

Karoos

Cannon

J.B. Say

Which one of the following was the difficulty of barter system

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Abundance of goods

Lack of double coincidence of wants

Difference of language

difference of occupations

Notes and coins are legal tender money because

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Government keeps gold and silver in their exchange

They are issued by the commercial banks

They are issued by the central bank

People are bound to accept them

The base of international trade theory of Devid Ricardo is

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Absolute advantage

Comparative cost

Cheaper cost

Low cost

With the increase of output, which cost of production increases:

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VC

AC

FC

MC

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