| 1 |
Economics is concerned with the attainment of material requisites |
- A. Robbins
- B. Marshall
- C. Pareto
- D. Senior
|
| 2 |
Economics is basically divided into two parts |
- A. Micro and macro economics
- B. Micro and applied economics
- C. Theoretical and applied economics
- D. Welfare and applied economics
|
| 3 |
According to Prof. Jugglar a trade cycle comletes in |
- A. Five to six years
- B. Nine to ten years
- C. Ten to eleven years
- D. Eleven to twelve years
|
| 4 |
Cause of movement along the supply curve is |
- A. Change in price
- B. Other factors
- C. Change in tax
- D. Change in income
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| 5 |
Degree of change in quantity supplied due to change in price is called |
- A. Extension of supply
- B. Rise of supply
- C. Elasticity of supply
- D. None of three
|
| 6 |
Increasing marginal product shows the law |
- A. Law of increasing return
- B. Law of constant return
- C. Law of decreasing return
- D. Law of diminishing marginal utility
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| 7 |
Which factor has no pre-determined reward |
- A. Land
- B. Labour
- C. Capital
- D. Organization
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| 8 |
Under perfect competition in the long run a firm |
- A. Always earns abnormal profit
- B. Always earns normal profit
- C. Usually earns abnormal profit
- D. Usually faces loss
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| 9 |
In which direction demand and supply curves move |
- A. Same
- B. Opposite
- C. parallel
- D. Horizontal
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| 10 |
Public finance and private finance are of each other |
- A. Opposite
- B. Synonymous
- C. Similar & different
- D. None of three
|