Demand and Supply Mcqs Test 05 Preparation Online Shani Malik — May 19, 2018 in Uncategorized • add comment Demand and Supply Mcqs Test 05 Preparation Online 1. Who defined Economics as a 'Science which studies human behaviour as a relationship between ends and means which have alternative uses?A. Paul A. SamuelsonB. Joan Robinson C. L. Robbins B. D. Alfred Marshall Loading... 2. A mixed economy is characterised by the co-existence of?A. Foreign and domestic investments B. Modern and traditional industries C. Public and private sectors D. Commercial and subsistence farming Loading... 3. Formulation of an economic theory involves?A. Statement of various assumptions or postulates B. Logical deductions from the assumptions made C. All of the aboveD. Testing the hypothesis against empirical evidence Loading... 4. Which of the following is incorrect?A. A market necessarily refers to a meeting place between buyers and sellers B. Normative Economics studies how the economic problems facing society should be solved C. A function shows the relationship between two or more variables D. Equilibrium refers to the market conditions which once achieved, tend to persist Loading... 5. Which is not an essential feature of a socialist economy?A. Freedom of enterprise B. Social ownership of the means of production C. Government decisionsD. Use of centralized planning Loading... 6. An economic theory is?A. An axiom B. A proposition C. A tested hypothesisD. A hypothesis Loading... 7. Demand for a commodity refers to a?A. Need for the commodity B. Quantity demanded of that commodity C. Quantity of the commodity demanded at a certain price during any praticular period of timeD. Desire for the commodity Loading... 8. Identify the aspect of taxation which is related to normative economics?A. Incidence of tax B. None of the aboveC. Effect of tax on the capacity willingness to work D. Equity of tax Loading... 9. Microeconomics deals with the?A. Behaviour of industrial decision makers B. All of the aboveC. Ellocation of resources of the economy as between production of different goods and services D. Determination of prices of goods and services Loading... 10. Which of the following is Microeconomics concerned with?A. The size of national output B. The levelof employment C. None of the aboveD. Changes in the general level of prices Loading... Loading... Related NTS Results Post:Demand and Supply Mcqs Test 07 Preparation OnlineDemand and Supply Mcqs Test 04 Preparation OnlineDemand and Supply Mcqs Test 02 Preparation OnlineDemand and Supply Mcqs Test 06 Preparation OnlineDemand and Supply Mcqs Test 01 Preparation OnlineDemand and Supply Mcqs Test 08 Preparation OnlineDemand and Supply Mcqs Test 03 Preparation OnlineIslamabad Electric Supply Company IESCO NTS Jobs…
