Question # 1

Which kind of budget is better during the situation of inflation

Choose an answer

Deficit budget

Surplus budget

Balanced budget

Domestic budget

When marginal utility is negative, then total utility

Choose an answer

Decreases

Increases

Does not change

Becomes negative

Which one is not condition of perfect competition

Choose an answer

Homogeneity of good

Difference in price of good

Large number of buyers and sellers

Perfect knowledge of market

Consumer's equilibrium takes place at that point where:

Choose an answer

MU is negative

MU is positve

TU is maximum

MU is maximum

The cause of rise and fall of demand is

Choose an answer

income

price

population

Both 1st and 3rd

Law of increasing return is more applicable in:

Choose an answer

Trade sector

Industrial sector

Agricultural sector

Power sector

If the rate of tax does not change with decrease or increase in the level of income, is called

Choose an answer

Proportional tax

Progressive tax

Regressive tax

value added tax

The kind of market, in which a single firm produces a single commodity which has no close substitute

Choose an answer

Monopoly

Duopoly

Oligopoly

Perfect competition

How many are kinds of economics

Choose an answer

Two

Three

Four

Five

Change in total production is called

Choose an answer

Marginal production

Zero production

Total production

Average production

On which amount Zakat is payable

Choose an answer

Twenty thousand rupees

On the amount equal to the value of 7.5 tola gold or 52.5 tola silver

On fifty thousand rupees

On one lac rupees

When after the observation and analysis of the conditions, they are stated as they are, is called

Choose an answer

Normative science

Positive science

Vegetation science

Science of Prediction

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

Choose an answer

Professor keynes

Professor Marshall

Professor hicks

Professor Lipsay

What is money

Choose an answer

Coins of gold and silver

Paper money

Agricultural crops

Everything which can be used as a medium of exchange

Objective of a rational consumer is

Choose an answer

To save maximum amount from his limited income

To buy goods at minimum price

Best choice from existing economic goods

To attain maximum utility from the spent amount

In which phase of a trade cycle national product, wages, prices and profits reach at their peak

Choose an answer

Recovery

Boom

Recession

Depression

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