MCQs Economics – 3MCQs Economics – 3 October 27, 2022October 27, 2022 Muhammad Imdad UllahMuhammad Imdad Ullah 0 Comments Online Multiple Choice Questions about Economics for the preparation of Jobs and Economics Educational Examinations related such as Lecturer, Research Analyst, and Economist, etc. Please enter your email: 1. The other name of the law of diminishing return is Law of supply Law of diminishing marginal utility Law of increasing cost Law of demand 2. Ushr implies on Agricultural and industrial product None of these options Industrial product Agricultural product 3. The economy gets prosperity during Recession Depression Recovery Boom 4. Which Economists presented the law of diminishing marginal utility? Marshall Robbins Adam Smith Malthus 5. The economy gets maximum prosperity during Boom Recession Depression Recovery 6. National income does not include Profit Interest Wages Transfer payments 7. Who is responsible for profit and loss in the business? Labour Middleman Entrepreneur Capitalist 8. Average revenue is equal to Total revenue Average cost Price Marginal revenue 9. In inflation prices Become zero Increases Do not change Decrease 10. International trade has the benefits Unlimited Two One Three 11. Who presented the quantity theory of money? Marshall Robbins Tausig Keynes 12. The methods of measuring the elasticity of supply are Five Four Three Two 13. Rent of the building is included in Fixed cost Variable cost Marginal cost Selling cost 14. Who described Economics as a science of wealth? Marshall Adam Smith Robbins Piguo 15. According to the law of increasing return, marginal product Remains constant Decreases Increases None of these options 16. The quality of a good which satisfies a human want to called as Utility Marginal None of the option Service 17. When the price falls supply Remains zero Expands Contracts Becomes fixed 18. It is a Federal Tax Excise duty Property tax Local tax None of the option 19. The elasticity of demand for durable goods is Equal to unity More than unity Less than unity Zero 20. Inflation will be useful for Pensioners Labourers Industrialist Consumers Loading …
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