Demand and Supply Mcqs Test 05 Preparation Online Leave a Comment / Uncategorized / By Shani Malik Demand and Supply Mcqs Test 05 Preparation Online 1. Formulation of an economic theory involves?A. All of the aboveB. Logical deductions from the assumptions made C. Statement of various assumptions or postulates D. Testing the hypothesis against empirical evidence Loading... 2. Identify the aspect of taxation which is related to normative economics?A. Incidence of tax B. Effect of tax on the capacity willingness to work C. None of the aboveD. Equity of tax Loading... 3. Which of the following is Microeconomics concerned with?A. Changes in the general level of prices B. None of the aboveC. The size of national output D. The levelof employment Loading... 4. Which of the following is incorrect?A. A market necessarily refers to a meeting place between buyers and sellers B. Equilibrium refers to the market conditions which once achieved, tend to persistC. A function shows the relationship between two or more variables D. Normative Economics studies how the economic problems facing society should be solved Loading... 5. 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... 6. A mixed economy is characterised by the co-existence of?A. Modern and traditional industries B. Public and private sectors C. Commercial and subsistence farmingD. Foreign and domestic investments Loading... 7. 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. Alfred Marshall D. L. Robbins B. Loading... 8. An economic theory is?A. A hypothesis B. A proposition C. A tested hypothesisD. An axiom Loading... 9. Which is not an essential feature of a socialist economy?A. Use of centralized planning B. Freedom of enterprise C. Social ownership of the means of production D. Government decisions Loading... 10. Demand for a commodity refers to a?A. Desire for the commodity B. Quantity of the commodity demanded at a certain price during any praticular period of timeC. Quantity demanded of that commodity D. Need for the commodity Loading... Loading... Related NTS Results Post:Islamabad Electric Supply Company IESCO NTS Jobs Results…Faisalabad Electric Supply Company FESCO Lineman CTS Jobs…Faisalabad Electric Supply Company FESCO Bill Distributor…Biology Mcqs Test 07 Online PreparationIslamiat Mcqs Test 01 Online PreparationBiology Mcqs Test 15 Online PreparationBiology Mcqs Test 14 Online PreparationBiology Mcqs Test 12 Online Preparation
