Uncategorized Demand and Supply Mcqs Test 05 Preparation Online Demand and Supply Mcqs Test 05 Preparation Online 1. 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... 2. Microeconomics deals with the?A. Ellocation of resources of the economy as between production of different goods and services B. Behaviour of industrial decision makers C. All of the aboveD. Determination of prices of goods and services Loading... 3. 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... 4. Identify the aspect of taxation which is related to normative economics?A. Incidence of tax B. Equity of tax C. Effect of tax on the capacity willingness to work D. None of the above Loading... 5. Which of the following is Microeconomics concerned with?A. The size of national output B. None of the aboveC. The levelof employment D. Changes in the general level of prices Loading... 6. Which is not an essential feature of a socialist economy?A. Government decisionsB. Social ownership of the means of production C. Use of centralized planning D. Freedom of enterprise Loading... 7. A mixed economy is characterised by the co-existence of?A. Commercial and subsistence farmingB. Public and private sectors C. Modern and traditional industries D. Foreign and domestic investments Loading... 8. 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. Alfred Marshall C. L. Robbins B. D. Paul A. Samuelson Loading... 9. 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... 10. An economic theory is?A. A hypothesis B. An axiom C. A tested hypothesisD. A proposition Loading... Loading... Related PostsDemand and Supply Mcqs Test 04 Preparation OnlineDemand and Supply Mcqs Test 08 Preparation OnlineDemand and Supply Mcqs Test 07 Preparation OnlineDemand and Supply Mcqs Test 06 Preparation OnlineDemand and Supply Mcqs Test 03 Preparation OnlineDemand and Supply Mcqs Test 02 Preparation Online Continue Reading Previous General Environmental Protection Agency KPK Jobs Test NTS Result 2023Next Next Post Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Δ
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