Demand and Supply Mcqs Test 05 Preparation Online Leave a Comment / Uncategorized / By Shani Malik Demand and Supply Mcqs Test 05 Preparation Online 1. An economic theory is?A. A proposition B. A tested hypothesisC. An axiom D. A hypothesis Loading... 2. Which is not an essential feature of a socialist economy?A. Social ownership of the means of production B. Freedom of enterprise C. Government decisionsD. Use of centralized planning Loading... 3. Microeconomics deals with the?A. Ellocation of resources of the economy as between production of different goods and services B. Determination of prices of goods and services C. All of the aboveD. Behaviour of industrial decision makers Loading... 4. Which of the following is Microeconomics concerned with?A. Changes in the general level of prices B. The levelof employment C. None of the aboveD. The size of national output Loading... 5. Demand for a commodity refers to a?A. Desire for the commodity B. Need for the commodity C. Quantity of the commodity demanded at a certain price during any praticular period of timeD. Quantity demanded of that commodity Loading... 6. Identify the aspect of taxation which is related to normative economics?A. Equity of tax B. Effect of tax on the capacity willingness to work C. Incidence of tax D. None of the above Loading... 7. Formulation of an economic theory involves?A. All of the aboveB. Statement of various assumptions or postulates C. Logical deductions from the assumptions made D. Testing the hypothesis against empirical evidence Loading... 8. 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. Alfred Marshall C. Joan Robinson D. L. Robbins B. Loading... 9. 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. Normative Economics studies how the economic problems facing society should be solved D. A function shows the relationship between two or more variables Loading... 10. A mixed economy is characterised by the co-existence of?A. Foreign and domestic investments B. Commercial and subsistence farmingC. Modern and traditional industries D. Public and private sectors 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 06 Online PreparationBiology Mcqs Test 12 Online PreparationBiology Mcqs Test 07 Online PreparationBiology Mcqs Test 08 Online PreparationBiology Mcqs Test 09 Online Preparation
