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. Formulation of an economic theory involves?A. All of the aboveB. Statement of various assumptions or postulates C. Testing the hypothesis against empirical evidence D. Logical deductions from the assumptions made Loading... 2. Which is not an essential feature of a socialist economy?A. Use of centralized planning B. Social ownership of the means of production C. Government decisionsD. Freedom of enterprise Loading... 3. An economic theory is?A. An axiom B. A hypothesis C. A tested hypothesisD. A proposition Loading... 4. Identify the aspect of taxation which is related to normative economics?A. None of the aboveB. Effect of tax on the capacity willingness to work C. Incidence of tax D. Equity of tax Loading... 5. Which of the following is Microeconomics concerned with?A. Changes in the general level of prices B. None of the aboveC. The levelof employment D. The size of national output Loading... 6. Microeconomics deals with the?A. Determination of prices of goods and services B. Ellocation of resources of the economy as between production of different goods and services C. All of the aboveD. Behaviour of industrial decision makers Loading... 7. A mixed economy is characterised by the co-existence of?A. Commercial and subsistence farmingB. Public and private sectors C. Foreign and domestic investments D. Modern and traditional industries Loading... 8. Demand for a commodity refers to a?A. Quantity of the commodity demanded at a certain price during any praticular period of timeB. Need for the commodity C. Quantity demanded of that commodity D. Desire for the commodity Loading... 9. Who defined Economics as a 'Science which studies human behaviour as a relationship between ends and means which have alternative uses?A. Joan Robinson B. Paul A. SamuelsonC. L. Robbins B. D. Alfred Marshall Loading... 10. Which of the following is incorrect?A. Normative Economics studies how the economic problems facing society should be solved B. Equilibrium refers to the market conditions which once achieved, tend to persistC. A function shows the relationship between two or more variables D. A market necessarily refers to a meeting place between buyers and sellers Loading... Loading... Related NTS Results Post:Biology Mcqs Test 10 Online PreparationChemistry MCQs Test 06 Online PreparationChemistry MCQs Test 07 Online PreparationBiology Mcqs Test 14 Online PreparationBiology Mcqs Test 13 Online PreparationIslamiat Mcqs Test 02 Online PreparationIslamiat Mcqs Test 01 Online PreparationIslamiat Mcqs Test 03 Online Preparation
