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#21
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Apart from that "Objective Economics" by Muhammad Asif Malik conatins much material...
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#22
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Nice Efforts dear!!!!!!!!
__________________
Mr.JAM |
The Following User Says Thank You to Jameel87 For This Useful Post: | ||
Zain Ahmed Zaman (Thursday, February 13, 2014) |
#23
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These sites contain much material...InshAllah u would be satisfied...
http://global.oup.com/uk/orc/busecon...1student/mcqs/ & http://www.vuzs.net/mcqs/207-eco401-economics.html & http://www.slideshare.net/vinetarush...and-and-supply |
#24
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easy but senoir solve it
The first book on economics of
“Wealth of Nations” was written by _____ _______. a. Prof Marshall b. Adam Smith c. Prof Robbins d. Keynesian 2. According to Prof. Marshall Economics is science of _________________. a. Wealth b. Scarcity & Choice c. Material Welfare d. All of above 3. Economics is a science of “Scarcity and Choice”, this definition was presented by _____. a. Adam Smith b. Prof. Marshall c. Prof Robbins d. Non o above 4. Human wants or desires are: a. Unlimited b. Limited c. Nothing d. None of above 5. Land, Labor, Capital and Organization are the factors of _______. a. Factory b. Supply c. Demand d. Production 6. The Law of Demand states that: a. Increase in price, decrease in quantity demand b. Decrease in price, increase in demand c. The inverse relationship between “Price and Demand” d. All of above 7. The demand curve moves from left to right ______. a. Upward b. Downward c. Straight d. None of Above 8. The slope of demand curve is ________ __. a. Positive b. Zero c. Negative d. Infinite 9. If the changes in demand and price are in the same ration, the elasticity of demand will be _____ unity. a. Greater than b. Equal to c. Less than d. All of above 10. The Elasticity of Luxuries is ______ than unity. a. More b. Less c. None of them 11. The Elasticity of Basic Necessities is _ ______ than unity. a. More b. Less c. None of them 12. If Demand curve is parallel to X-axis then the Elasticity of demand will be ____ _____. a. perfectly in elastic b. Elastic c. Perfectly elastic d. Relatively less elastic 13. If Demand curve is parallel to Y-axis then the Elasticity of demand will be ____ _____. a. perfectly in elastic b. Elastic c. Perfectly elastic d. Relatively less elastic 14. The Law of Supply states that, increase in price, _____ in quantity supplied and decreases in price, _______ in quantity supplied. a. Decrease, increase b. Increase, increase c. Decrease, decrease d. Increase, decrease 15. Supply is the part of ____________. a. Demand b. Supply c. Stock d. None of the above 16. Micro economics is the study of _____ _____ a. Whole economy b. Individuals c. Both of them 17. _____________ utility is the utility of the last unit of consumption. a. Total Utility b. Negative Utility c. Marginal Utility d. None of the above 18. There is ________ relationship between no of units consumed and marginal utility. a. Direct b. Inverse c. No d. None of above 19. The Law of Equi-Marginal utility is also called ____________. a. Law of Substitution b. Law of Demand c. Law of Satisfaction d. None of the above 20. When marginal utility becomes zero total utility will be ____________. a. Minimum b. Maximum c. Zero d. Income 21. The power of a Commodity to satisfy human wants is called ____________. a. Usefulness b. Utility c. Income d. None of the above 22. Net national can be calculated by: a. GNP + depreciation b. GNP – depreciation c. G.N.P – indirect taxes d. None of the above 23. Personal disposal income = personal income – a. Indirect taxes b. subsidies c. direct taxes d. all of the above 24. Macro economies is the study of: a. Individual units of economy b. Aggregate and averages of economy c. Individual units aggregate and averages of economy d. None of the above 25. In inflation: a. Price raises b. purchasing power decreases c. poor become poorer d. all of the above 26. To avoid double counting in estimation of G.D.P only: a. Intermediate goods are included b. free goods are included c. final goods are included d. none of the above 27. GNP or GDP is the sum of: a. All goods are produced b. All goods and services are produced c. All goods and services consumed d. All final goods and services produced in a year. 28. The fundamental economic problem faced by all societies is: a. unemployment b. inequality c. poverty d. scarcity 29. “Capitalism” refers to: a. the use of markets b. government ownership of capital goods. c. private ownership of capital goods. d. private ownership of homes and cars. 30. The law of demand states that: a. as the quantity demanded rises, the price rises. b. as the price rises, the quantity demanded rises. c. as the price rises, the quantity demanded fails. d. as supply rises, the demand rises. 31. The price elasticity of demand is the: a. percentage change in quantity demanded divided by the percentage change in price. b. percentage change in price divided by the percentage change in quantity demanded. c. dollar change in quantity demanded divided by the dollar change in price. d. percentage change in quantity demanded divided by the percentage change in quantity supplied. 32. If there is a price floor, there will be: a. shortages b. surpluses c. equilibrium 33. If there is a price ceiling, there will be a. shortages b. surpluses c. equilibrium 34. The law of diminishing (marginal) returns states that as more of a variable factor is added to a certain amount of a fixed factor, beyond some point: a. Total physical product begins to fall. b. The marginal physical product rises. c. The marginal physical product falls. d. The average physical product falls. 35. Which of the following is a characteristics of pure monopoly? a. one seller of the product. b. low barriers to entry c. close substitute products d. perfect information 36. In pure monopoly, what is the relation between the price and the marginal revenue? a. the price is greater than the marginal revenue. b. the price is less that the marginal revenue c. there is no relation d. they are equal 37. Which of the following best defines price discrimination? a. charging different prices on the basis of race b. charging difference prices for goods with different costs of production c. charging different prices based on cost-of-service differences. d. selling a certain product of given quality and cost per unit at different prices to different buyers. 38. Which of the following IS a function of money? a. medium of exchange b. store of value c. standard deferred payment d. all of the above 39. Increase in the number of buyers in the market would lead to a shift of the demand curve to: a. The right b. The left c. Upwards along the curve d. None of the above 40. Competitive market comprises: a. Large number of buyers b. Large number of firms c. Large number of both buyers and producers. d. None of the above 41. Under perfect competition, a firm would maximize profit at a point where: a. Average revenue = average cost b. Marginal cost = average revenue c. Marginal cost = marginal revenue d. None of the above 42. Foreign trade differs from domestic trade: a. Because of terms of trade b. Due to differences in production costs. c. Because of territorial differences. d. None of the above 43. Equilibrium price is a price at which a. Quantity demanded is equal to quantity supplied. b. Quantity demanded minus quantity supplied is zero c. Quantity demanded = quantity supplied d. All of these 44. A demand curve shows the relationship between the quantity demanded for a commodity over a given time and: a. The tastes of consumer b. The money income of consumer c. The price of related commodities d. The price of the commodity 45. The % change in quantity demanded due to % change in income is: a. Price elasticity b. Prices cross elasticity c. Income elasticity d. All of these 46. The incidence of tax refers to: a. Who economically bear the burden of the tax b. The canons of taxation c. Type of tax, direct or indirect tax d. Whether the tax is continuously or periodically levied 47. Balance of payment includes: a. Visible goods only b. Invisible goods only c. Visible and invisible items both d. None of the above 48. Balance of trade includes: a. Visible items only b. Invisible items only c. Visible and invisible items both d. None of the above 49. During inflation the prices of goods: a. Rises b. Falls c. Unchanged d. None of the above 50. During inflation the value of money: a. Increases b. Diminishes or decreases c. Unchanged d. All of the above 51. Trade cycle or business cycle consists of: a. 2 phases b. 4 phases c. 3 phases d. No phases 52. When the economic activities are at their peak, it is called: a. Boom b. Recession c. Depression d. recovery 53. The cannons of taxation were first presented by: a. Prof Marshall b. Prof Robbins c. Adam Smith d. Keynes 54. Which one is not a direct tax? a. Income tax b. Sales tax c. Property tax d. Wealth tax 55. The theory of comparative costs is related to: a. domestic trade b. Retail trade c. Wholesale trade d. International or foreign trade 56. When the total monetary value of imports of a country is less than the total monetary value of exports, the balance of payment is: a. zero b. Positive c. Negative d. None of the above 57. Checks and drafts are: a. Cash instruments b. Credit instruments c. Musical instruments d. None of the above 58. The mobility of land is: a. Possible b. Possible in some conditions c. Impossible d. All of the above 59. The marginal cost curve has a tangency to: a. Fall first and then rise b. Rise first and then fall c. Fall first and then stop d. Rise first and then stop 60. A cost which a firm has to bear in each and every condition is: a. Variable cost b. Fixed cost c. Marginal cost d. All of the above 61. The law of increasing return in terms of cost is called: a. Law of increasing cost b. Law of constant cost c. Law of diminishing cost d. None of the above 62. Which one of the following determines scale of production? a. Financial resources b. Production techniques c. Extent of market d. All of the above 63. Balance of trade will be negative when: a. Exports are greater than imports b. Exports are equal imports c. Exports and imports are zero d. Exports are less than imports..... |
#25
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i need answer keys
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