11th Class Principles of Economics MCQS Part I: Supply and Demand Online Test 1

3-cp-3-e-according-to-marshall-2-c-economics-is-3-a-3-c-2-fp-3-e_-_3-cp-3-esocial-science-3-c-2-fp-3-e,3-cp-3-e-according-to-which-theory-every-factor-of-production-gets-the-reward-of-its-services-equal-to-its-marginal-product-3-f-3-c-2-fp-3-e_-_3-cp-3-emarginal-productive-theory-3-c-2-fp-3-e,3-cp-3-e-consumer-goods-are-those-goods-which-the-consumers-consume-3-a-3-c-2-fp-3-e_-_3-cp-3-edirectly-3-c-2-fp-3-e,3-cp-3-e-demand-for-the-commodities-whose-use-can-be-postponed-is-3-a-3-c-2-fp-3-e_-_3-cp-3-emore-elastic-3-c-2-fp-3-e,3-cp-3-e-factors-of-production-are-also-called-3-a-3-c-2-fp-3-e_-_3-cp-3-e-inputs-3-c-2-fp-3-e,3-cp-3-e-free-gift-of-nature-is-3-a-3-c-2-fp-3-e_-_3-cp-3-eland-3-c-2-fp-3-e,3-cp-3-e-if-demand-for-x-commodity-changes-due-to-the-change-in-the-price-of-commodity-y-2-c-it-is-c-2-a-0-called-3-a-3-c-2-fp-3-e_-_3-cp-3-ecross-elasticity-3-c-2-fp-3-e,3-cp-3-e-if-same-amount-of-goods-is-supplied-at-higher-price-2-c-it-is-called-3-f-3-c-2-fp-3-e_-_3-cp-3-e-contraction-of-supply-3-c-2-fp-3-e,3-cp-3-e-if-supply-of-a-commodity-is-fixed-then-due-to-fall-of-demand-of-that-commodity-3-a-3-c-2-fp-3-e_-_3-cp-3-e-its-price-will-decrease-3-c-2-fp-3-e,3-cp-3-e-in-short-run-2-c-a-monopolist-firm-usually-gains-3-a-3-c-2-fp-3-e_-_3-cp-3-e-abnormal-profit-3-c-2-fp-3-e,3-cp-3-e-law-of-decreasing-return-is-immediately-applied-on-3-a-3-c-2-fp-3-e_-_3-cp-3-eagriculture-3-c-2-fp-3-e,3-cp-3-e-marginal-production-is-denoted-by-3-a-3-c-2-fp-3-e_-_3-cp-3-emp-3-c-2-fp-3-e,3-cp-3-e-net-national-income-equals-to-3-a-3-c-2-fp-3-e_-_3-cp-3-e-gross-national-product-depreciation-allowance-3-c-2-fp-3-e,3-cp-3-e-number-of-firms-under-monopoly-is-3-a-3-c-2-fp-3-e_-_3-cp-3-eone-3-c-2-fp-3-e,3-cp-3-e-one-of-the-following-is-not-called-land-3-a-3-c-2-fp-3-e_-_3-cp-3-e-supply-of-land-is-unlimited-3-c-2-fp-3-e,3-cp-3-e-price-is-determined-under-perfect-competition-by-3-a-3-c-2-fp-3-e_-_3-cp-3-eforces-of-demand-and-supply-3-c-2-fp-3-e,3-cp-3-e-production-of-the-last-unit-of-a-factor-of-production-is-called-3-a-3-c-2-fp-3-e_-_3-cp-3-emarginal-product-3-c-2-fp-3-e,3-cp-3-e-supply-of-goods-depends-upon-3-a-3-c-2-fp-3-e_-_3-cp-3-eprice-3-c-2-fp-3-e,3-cp-3-e-tendency-of-demand-curve-of-a-factor-of-production-is-3-a-3-c-2-fp-3-e_-_3-cp-3-enegative-3-c-2-fp-3-e,3-cp-3-e-the-equilibrium-level-of-national-income-is-2-c-where-3-a-3-c-2-fp-3-e_-_3-cp-3-es-3-d-i-3-c-2-fp-3-e,if-the-percentage-change-in-supply-is-more-than-the-percentage-change-in-price-2-c-then-elasticity-of-supply-is-called-3-a_-_more-than-unity,quantity-of-a-commodity-which-a-person-is-ready-to-purchase-at-a-particular-price-2-c-is-called-3-a_-_individual-demand,supply-of-durable-goods-is-3-a_-_elastic,the-reason-of-extension-of-demand-is-3-a_-_change-in-price,when-supply-decreases-due-to-other-factors-besides-price-2-c-it-is-called-3-a_-_fall-of-supply