Solve the following Objective Questions given below. These questions are meant for Practice Only.
- In the following which economy has a co-existence of private and public sector ?
- Which of the following is studied under Microeconomics ? A. Individual Unit B.Economic Aggregate C. National Income D. None of these
- Economic problem is basically related to which of the following ?
- A. Choice B. Consumer’s Selection
- C. Firm’s Selection D. None of these
- Which of the following is not a Private good? A. Scooter B. Bicycle C. Rail D. All the above
- When Total Utility is maximum, what is Marginal Utility ? A. Positive B. Negative C. Zero D. All of these conditions
- For which goods price fall does not cause an increase in demand? A. Necessary goods B. Comfort goods C. Luxury goods D. None of these
- If a demand of a good changes by 60% due to 40% change in price, what is the Elasticity of Demand?
- Which of the following is slope of the Price or Budget line?
- With an increase in income consumer decreases the demand of which goods?
- Long Run Production function is related to which of the following ? A. Law of Demand B. Law of Increasing Returns C. Laws of Returns to scale D. Elasticity of Demand
- Which of the following is the first law of Gossen? A. Law of Demand B. Law of Diminishing Marginal Utility 7 C. Law of Equi-Marginal Utility D. Consumer’s Surplus
- What is the value of the slope of demand curve ? A. Positive B. Negative C. Zero D. None of these
- Which of the following laws is explained by short Run Production Function? A. Law of Demand B. Law of Variable Proportions C. Returns to scale D. Elasticity of Demand
- When Average Cost is decreasing what status Marginal Cost has as compared to Average Cost? B. MC>AC B. MC=AC C. MC < AC D. MC ≠ AC
- Which of the following is Marginal Revenue?
- What is the sufficient condition for Profit Maximisation?
- In which market Product Differentiation is found ?
- Who propounded Food Availability Decline theory? A. Robbins B. Amartya Sen C. Hicks D. None of these
- Which of the following is stock variable? A. Income B. Investment C. Consumption D. Wealth
- The alternative name of Opportunity cost is A. Economic Cost B. Equilibrium Price C. Marginal Cost D. Average Cost
- Which of the following function shows the law of supply?
- Which is the feature of Monopolistic Competition? A. Differentiated Product B. Selling Cost C. Imperfect Knowledge of the market D. All of the above
- What is the shape of demand curve of a firm in perfect competition?
- What is the direction of slope of Indifference curve?
- Contraction in demand occurs when?
- Which service is included in Tertiary Sector?
- What is Net National product at Factor Cost called?
- Which term is used for National Income at constant price?
- Which is included in National Income?
- What is the market value of all final goods and services produced in an economy over a year called?
- National Disposable Income is calculated at which of the following?
- “Money is what money does” Who statement is this ?
- Which of the following is Credit Multiplier ?
- Who is the custodian of Indian Banking system ?
- From the following which is the component of Budget Receipt ?