Question # 1

Which laws are framed by parliament

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State laws

Moral laws

Economic laws

Scientific laws

Which factor has no pre-determined reward

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Land

Labour

Capital

Organization

Price of raw material, wages of temporary labourers, transport costs etc,are called

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Fixed costs

Variable costs

Marginal cost

Total cost

One of the following is not include in national income:

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Transfer payments

Depreciation

Wages

Both a and b

The goods which are directly consumed by the human-being, are called

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Consumer goods

Capital goods

Industrial goods

None of the three

"Principles of Economics" was written by.

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Adam smith

Marshall

Robbins

Canon

Duopoly refers to:

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Single seller

Two seller

Multiple sellers

Multiple buyers

The additional cost which a firm has to bear in order to produce additional unit of output, are called

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Average cost

Marginal cost

Fixed costs

Variable costs

Kinds of credit money are

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Verbal promise and written promise

Govt. securities & debentures

Cheque & Drafts

Share of Companies

Because of devaluation of currency of a country, its exports

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Decrease

Increase

Remains constant

Go on changing

Basic object of a firm is to get maximum:

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Price

Profit

Production

All of three

Economics studies human behaviour from

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Individual angle

Collective angle

Individual & Collective angle

None

Due to fall in demand, curve shifts to

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Right

Left

Both sides

None of these

Quickly destroyable goods are called

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Superior goods

Inferior goods

Perishable goods

Giffen godds

State laws are of

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Regional nature

Country nature

International nature

Non of three

The term marginal in economics means:

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An additional unit

Change in unit

Last unit

All of them

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

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Law of decreasing return

Law of increasing return

Law of production

Law of constant return

kinds of money are

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Three

Four

Five

Seven

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