Question # 1

To describe as it is, after seeing and analyzing any event, is known as

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Normative science

Positive science

Biological science

For casting science

Curve of law of diminishing marginal utility

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Moves from left to right downward

Moves from left to right upward

Firstly it has a tendency to rise up and after a certain limit it starts falling

It is parallel to ox-axis

The ratio of change in income to change in investment is known as:

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Multiplier

Accelrator

MEC

Both a and b

Free gift of nature is

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Land

Labour

Capital

Organization

The purchasing power of money is called

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value of money

Medium of exhange

quantity of money

credit money

When total product decreases, marginal product

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Is positive

Is negative

Is zero

Is increasing

MPP stand is

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Marginal price product

Marginal Physical Product

Marginal Physical Price

Marginal Perfect Price

Another name of unitary method is

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Total satisfiaction method

Total expenditure method

Total revenue method

Both 2nd and 3rd

Price discrimination policy refers to:

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Single price

Two prices

Multiple prices

None of these

A slight change in demand and price is called:

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Point Elasticity of demand

ArcElasticity of demand

CrossElasticity of demand

PriceElasticity of demand

If demand falls more proportionately then that of supply then

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Equilibrium price increases

Equilibrium price decreases

Equilibrium price does not change

Equilibrium quantity increases

The ratio of change in investment to change in income is known as:

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Multiplier

Accelerator

MEC

Both a and b

Recent international depression was appeared in:

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1936

1990

2005

2008

Saving deposits and time deposits of the banks, Govt. securities and shares of the companies are called

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Token money

Money of account

Standard money

Near money

Methods for measurement of national income are:

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Two

Three

Four

Five

When total utility is increasing marginal utility is

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Zero

Positive

Negative

Maximum

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

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