Daily Updated MCQS

Q:When line supply curve touches x axis elasticity at all points is

  • (A)0
  • (B)Greater than one
  • (C)Less than one
  • (D)Equal to one
  • The Correct Answer is Less than one

    Uploaded By Assistant prof.Almas

Q:Supply curve

  • (A)Is flatter in long run
  • (B)Steeper in long run
  • (C)Same in long run
  • (D)Horizontal
  • The Correct Answer is Is flatter in long run

    Uploaded By Assistant prof.Almas

Q:If elasticity of supply is greater than one .supply curve will be touching

  • (A)X-axis
  • (B)Y-axis
  • (C)Passing through origin
  • (D)Horizontal
  • The Correct Answer is Touches Y-axis

    Uploaded By Assistant prof.Almas

Q:If price changes by 2% and supply changes by 1% then supply is

  • (A)Elastic
  • (B)Perfectly elastic
  • (C)Inelastic
  • (D)Indeterminate
  • The Correct Answer is Inelastic

    Uploaded By Assistant prof.Almas

Q:an increase in demand would cause supply curve to

  • (A)Shift to the left
  • (B)Shift to the right
  • (C)No effect on supply
  • (D)Change in slope of supply curve
  • The Correct Answer is No effect on supply curve

    Uploaded By Assistant prof.Almas

Q:Law of substitution is another name of

  • (A)Law of equi marginal utility
  • (B)Law of diminishing marginal utility
  • (C)Both
  • (D)None of these
  • The Correct Answer is Law of equi marginal utility

    Uploaded By Assistant prof.Almas

Q:A consumer spending is restricted because of

  • (A)Budget constraints
  • (B)Marginal utility
  • (C)Demand curve
  • (D)MU
  • The Correct Answer is Budget constarint

    Uploaded By Assistant prof.Almas

Q:Utility is most closely related to the term

  • (A)Necessary
  • (B)Useless
  • (C)Useful
  • (D)Satisfaction
  • The Correct Answer is Satisfaction.

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Q:The term marginal in economics means

  • (A)Unimportant
  • (B)Additional
  • (C)The minimum
  • (D)Temporary
  • The Correct Answer is Additional

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Q:In economics a family with common budget is called

  • (A)Household
  • (B)Organisation
  • (C)Consumer union
  • (D)Social group
  • The Correct Answer is Household

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Q:A consumer is in equilibrium when marginal utilities are

  • (A)Highest
  • (B)Lowest
  • (C)Equal
  • (D)Increasing
  • The Correct Answer is Equal

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Q:Rotten eggs are

  • (A)Free goods
  • (B)Economic goods
  • (C)Services
  • (D)Wealth
  • The Correct Answer is Free goods

    Uploaded By Assistant prof.Almas

Q:Last annual submission of shanghai cooperation organization was held during june 2017 at the location of

  • (A)Tashkant
  • (B)Tajikistan
  • (C)Astana,khazikhstan
  • (D)China
  • The Correct Answer is Astana

    Uploaded By Assistant prof.Almas

Q:Which is the monetary measure to increase employement

  • (A)Increase in govt spending
  • (B)Decrease in govt spending
  • (C)Increasing intrest rate
  • (D)Decreasing intrest rate
  • The Correct Answer is Decrease in intrest rate

    Uploaded By Assistant prof.Almas