Question # 1

The demand curve for monopolist is also called

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Total revenue

Average revenue

Marginal revenue

Zero revenue

Feature of a commodity to satisfy human want, is called

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Value

Usefulness

Utility

Wealth

If we deduct direct taxes from personal income, we get:

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NNP

GDP

DPI

PI

Law of constant return is also known as:

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Increasing cost

Constant cost

Diminishing cost

Both (a) and (c)

Who did write the book named "Principles of Economics" was written

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Adam smith

Marshall

Robbins

Cannon

At last, indirect tax is paid by

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Shopkeeper

Entrepreneur

Customer

Whole-seller

If total expenditure of the consumer increases due to decrease in price, then nature of elasticity of demand will be

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Equal to unity

Less than unity

More than unity

Elasticity of demand = zero

Which economist said that, economics cannot be separated from spiritual values?

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Marshall

Robbins

Adam smith

Voton

The income which a person can use according to his will called:

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Net income

Per capital income

Personal income

Disposable personal income

The cause of extension and contraction of demand is

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Income

Price

Population

Technology

Which one of the following is not included in the assumptions of law of supply

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taste of consumer

cost of production

Methods of production

price of raw material

Regarding time element, the normal price has types

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One

Two

Three

Four

When demand curve shifts rightward (or upward), it is called

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Rise of demand

Fall of demand

Extension of demand

Contraction of demand

Cause of shifting of demand curve is

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Change in price

Desire

Other factors

Exceptions

In case of perfectly elastic supply or infinite elasticity of supply, supply curve is

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Horizontal (parallel to x-axis)

Vertical (parallel to y-axis)

Positive sloped

Negative sloped

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

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Adam smith

Robbins

Pigou

Keynes

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