1 - When was the World Bank's Special Programme of Assistance (SPA) for indebted low income countries initiated?
1 - When was the World Bank's Special Programme of Assistance (SPA) for indebted low income countries initiated?
December. 1987
2 - Which country is the OPEC's largest oil exporter?
2 - Which country is the OPEC's largest oil exporter?
Saudi Arabia
3 - When was the Organisation of Petroleum Exporting Countries (OPEC) formed to control the production and pricing of crude oil?
3 - When was the Organisation of Petroleum Exporting Countries (OPEC) formed to control the production and pricing of crude oil?
1960
4 - The headquarters of which of the following organisations are located at Vienna?
4 - The headquarters of which of the following organisations are located at Vienna?
OPEC
5 - The International Air Transport Association (IATA) aims to promote safe, regular and economical air transport and to provide a forum for collaboration. When was its founded?
5 - The International Air Transport Association (IATA) aims to promote safe, regular and economical air transport and to provide a forum for collaboration. When was its founded?
1945
6 - How many international airlines are active members of the IATA?
6 - How many international airlines are active members of the IATA?
40
7 - Which of the following is not a member country of the G-7 (Group of Seven advanced industrial nations)?
7 - Which of the following is not a member country of the G-7 (Group of Seven advanced industrial nations)?
USSR
8 - Which of the following organisations was brought into existence by the Treaty of Rome?
8 - Which of the following organisations was brought into existence by the Treaty of Rome?
European Economic Community
9 - How many Regional Economic Commissions have been set up by the United Nations Economic and Social Council?
9 - How many Regional Economic Commissions have been set up by the United Nations Economic and Social Council?
Five
10 - How many member-states are represented in the United Nations Economic and Social Council?
10 - How many member-states are represented in the United Nations Economic and Social Council?
54
11 - In which year was the Asian Development Bank (ADB) set up following the recommendation of the United Nations Economic Commission for Asia and Far east?
11 - In which year was the Asian Development Bank (ADB) set up following the recommendation of the United Nations Economic Commission for Asia and Far east?
1966
12 - When was the Asian Development Fund launched by the Asian Development Bank with a view to provide confessional credit to needy members?
12 - When was the Asian Development Fund launched by the Asian Development Bank with a view to provide confessional credit to needy members?
1974
13 - Those who invest in joint stock companies are called:
13 - Those who invest in joint stock companies are called:
Shareholders
14 - Limited liability is one of the advantages of:
14 - Limited liability is one of the advantages of:
Joint stock company
15 - He prepares the initial plan of the business:
15 - He prepares the initial plan of the business:
Entrepreneur
16 - It is most suitable for large scale business:
16 - It is most suitable for large scale business:
Corporation
17 - A public limited company is run by:
17 - A public limited company is run by:
Board of directors
18 - They can expand their business by selling shares in the stock market:
18 - They can expand their business by selling shares in the stock market:
Joint stock company
19 - Reward of which factor of production is not pre-determined?
19 - Reward of which factor of production is not pre-determined?
Organistion
20 - It is an example of public limited company:
20 - It is an example of public limited company:
WAPDA
21 - A public corporation comes into existence by means:
21 - A public corporation comes into existence by means:
Act of Parliament
22 - If a public limited company issues bonds to increase resources, then it pays:
22 - If a public limited company issues bonds to increase resources, then it pays:
Fixed interrest to bond holders
23 - A decrease in demand causes the equilibrium price to:
23 - A decrease in demand causes the equilibrium price to:
Fall
24 - When price is below equilibrium level, there will be:
24 - When price is below equilibrium level, there will be:
Shortage of commodity in the market
25 - If equilibrium price rises but equilibrium quantity remains unchanged, the cause is:
25 - If equilibrium price rises but equilibrium quantity remains unchanged, the cause is:
Supply decreases and demand increases
26 - Price of a product is determined in a free market:
26 - Price of a product is determined in a free market:
By both demand and supply
27 - An increases in the price of mutton provides information which:
27 - An increases in the price of mutton provides information which:
Tells producers to produce more mutton
28 - In market equilibrium, supply is vertical line. The downward sloping demand curve shifts to the rights. Then:
28 - In market equilibrium, supply is vertical line. The downward sloping demand curve shifts to the rights. Then:
Price will rise
29 - Equilibrium:
29 - Equilibrium:
Is an important idea for predicting economic changes
30 - Ten rupees is the equilibrium price for good X. If government fixes price at Rs. 5, there is:
30 - Ten rupees is the equilibrium price for good X. If government fixes price at Rs. 5, there is:
A shortage
31 - A rise in supply and demand in equal proportion will result in:
31 - A rise in supply and demand in equal proportion will result in:
No change in equilibrium price and increase in equilibrium quantity
32 - The price and sales of sugar both increase. What could be the cause of this?
32 - The price and sales of sugar both increase. What could be the cause of this?
An increase in the price of sugar substitutes
33 - Labour is hirable but you cannot hire:
33 - Labour is hirable but you cannot hire:
Entrepreneur
34 - The three broad types of productive resources are:
34 - The three broad types of productive resources are:
Capital, labour and natural resources
35 - Land means:
35 - Land means:
All natural resources
36 - Economic development of a country requires:
36 - Economic development of a country requires:
(a) and (c) of above
37 - Productivity of land can be raised by:
37 - Productivity of land can be raised by:
Intensive cultivation
38 - Land :
38 - Land :
(a) and (b) of above
39 - Which of the following is NOT and input:
39 - Which of the following is NOT and input:
Production
40 - Which of the following input factor takes risk innovtes and coordinates:
40 - Which of the following input factor takes risk innovtes and coordinates:
Entrepreneur
41 - Which of the following is correct with respect to resources:
41 - Which of the following is correct with respect to resources:
Human skills are a labour input
42 - The transformation of resources into economic goods and series is called:
42 - The transformation of resources into economic goods and series is called:
Production
43 - Economic goods produced by firms are called:
43 - Economic goods produced by firms are called:
Output
44 - Land is:
44 - Land is:
Hirable
45 - Geographical mobility is not possible for:
45 - Geographical mobility is not possible for:
Land
46 - The following is NOT a factor of production:
46 - The following is NOT a factor of production:
Money
47 - Which of the following factors takes risk, innovates and coordinates:
47 - Which of the following factors takes risk, innovates and coordinates:
Entrepreneur
48 - The transformation of resources into economic goods and services is:
48 - The transformation of resources into economic goods and services is:
Output
49 - For production of goods we need factors:
49 - For production of goods we need factors:
Four
50 - Standard of living of a country can be raised if it increases:
50 - Standard of living of a country can be raised if it increases:
Production
51 - Productivity of land can be raised by:
51 - Productivity of land can be raised by:
Intensive cultivation
52 - Natural environment that can be used for the production of goods and services is:
52 - Natural environment that can be used for the production of goods and services is:
Natural resources
53 - An example of natural resources is:
53 - An example of natural resources is:
Oil reserves in the ground
54 - Negative returns in the short run imply that:
54 - Negative returns in the short run imply that:
Marginal is negative
55 - Economies of scale:
55 - Economies of scale:
Suggest that the firm's marginal cost curve lies above its average cost curve
56 - In law of diminishing returns at least one factor:
56 - In law of diminishing returns at least one factor:
Must be constant
57 - Economies of scale are of two kinds:
57 - Economies of scale are of two kinds:
Internal and external
58 - Laws of return apply to firms working in:
58 - Laws of return apply to firms working in:
All kinds of market situations
59 - During short period, diminishing returns may follow because:
59 - During short period, diminishing returns may follow because:
Quantity of any one factor is fixed
60 - When a firm using a fixed amount of land and capital takes on more workers, it finds that marginal product (MP) of labour falls but the average product (AP) of labour rises. This can be explained by the factors that:
60 - When a firm using a fixed amount of land and capital takes on more workers, it finds that marginal product (MP) of labour falls but the average product (AP) of labour rises. This can be explained by the factors that:
The additional workers are more efficient
61 - Which of the following is example of external economies of scale?
61 - Which of the following is example of external economies of scale?
Technical progress leads to development of machines at low price
62 - The maximum point on TP curve is at quantity of labour where:
62 - The maximum point on TP curve is at quantity of labour where:
MPP of labour is zero
63 - When a firm using a fixed amount of land and capital takes on more workers, it finds that marginal product (MP) of labour falls but the average product (AP) of labour rises. This can be explained by the factors that:
63 - When a firm using a fixed amount of land and capital takes on more workers, it finds that marginal product (MP) of labour falls but the average product (AP) of labour rises. This can be explained by the factors that:
The MP of labour is greater than AP of labour
64 - In an economy government constructed a new water reservoir for the purpose of irrigation; this might be taken as:
64 - In an economy government constructed a new water reservoir for the purpose of irrigation; this might be taken as:
Increase in supply of capital
65 - Which of the following is one of the assumptions of perfect competition.
65 - Which of the following is one of the assumptions of perfect competition.
Many buyers and many sellers
66 - A firm under perfect competition is:
66 - A firm under perfect competition is:
Price taker
67 - Which of the following markets comes closet to perfect market.
67 - Which of the following markets comes closet to perfect market.
Wheat market
68 - This kind of market is undesirable:
68 - This kind of market is undesirable:
Local market
69 - Which is a condition for existence of monopoly:
69 - Which is a condition for existence of monopoly:
No close substitute
70 - In case of monopoly:
70 - In case of monopoly:
Marginal revenue is always less than average revenue
71 - In case of perfect competition in the market:
71 - In case of perfect competition in the market:
Marginal revenue is always equal to average revenue
72 - In the business world:
72 - In the business world:
A firm working under perfect competition wants to become a monopoly
73 - Which is not true:
73 - Which is not true:
Every monopoly is evil
74 - The major difference between perfect competition and monopolistic competition is:
74 - The major difference between perfect competition and monopolistic competition is:
Differentiated product
75 - Marginal revenue is always less than price at all levels of output in:
75 - Marginal revenue is always less than price at all levels of output in:
Monopoly
76 - Which of the following is not a characteristic of perfect competition?
76 - Which of the following is not a characteristic of perfect competition?
An individual firm can influence the price
77 - When marginal revenue is zero, total revenue:
77 - When marginal revenue is zero, total revenue:
Maximum
78 - Marginal revenue is always less than price at all levels of output in:
78 - Marginal revenue is always less than price at all levels of output in:
Monopoly
79 - Which of the following is not a characteristic of perfect competition?
79 - Which of the following is not a characteristic of perfect competition?
An individual firm can influence the price
80 - In Monopoly at various output levels:
80 - In Monopoly at various output levels:
AR = MR
81 - Excise tax is a part of:
81 - Excise tax is a part of:
Variable cost
82 - The shape of rectangular hyperbola is made by:
82 - The shape of rectangular hyperbola is made by:
AFC
83 - As output increases:
83 - As output increases:
MC curve firstly falls then rises
84 - Unit cost is another name for:
84 - Unit cost is another name for:
ATC
85 - All inputs can be varied:
85 - All inputs can be varied:
Long run
86 - Which statement is true:
86 - Which statement is true:
AFC + AVC = ATC
87 - Which is NOT a cause of shift in cost curves of a firm:
87 - Which is NOT a cause of shift in cost curves of a firm:
Price of product
88 - MC is given by:
88 - MC is given by:
Slope of TC
89 - TC
89 - TC
Does not start from origin
90 - TVC
90 - TVC
Starts from origin
91 - TC
91 - TC
Rises continuously
92 - All the following are U-shaped Except:
92 - All the following are U-shaped Except:
AFC
93 - The cost which a firm incurs for purchasing or hiring factors is called:
93 - The cost which a firm incurs for purchasing or hiring factors is called:
Explicit
94 - The short run:
94 - The short run:
Requires that at least one input is fixed
95 - The long run is a:
95 - The long run is a:
Period long enough to allow firms to change plant size and capacity
96 - As output increases, AC curve:
96 - As output increases, AC curve:
(a), (b), (c) are all correct
97 - The necessary condition for equilibrium position of a firm is:
97 - The necessary condition for equilibrium position of a firm is:
MC = AC
98 - Profit is maximum when:
98 - Profit is maximum when:
Distance between TR and TC is maximum
99 - Profit is maximum when:
99 - Profit is maximum when:
Slope of TC and TR is the same
100 - Profit is maximum when:
100 - Profit is maximum when:
TC and TR curves are parallel
101 - At the point of equilibrium of firm (under perfect competition):
101 - At the point of equilibrium of firm (under perfect competition):
MC curve must be rising
102 - Normal profit is:
102 - Normal profit is:
Part of total cost
103 - Economic profit is:
103 - Economic profit is:
Total revenue minus total cost
104 - A firm earns economic profit when total profit exceeds:
104 - A firm earns economic profit when total profit exceeds:
Normal profit
105 - The basic goal of a firm is to:
105 - The basic goal of a firm is to:
Maximize profit
106 - A firm's MR exceeds its MC, maximum profit rule requires that firm to:
106 - A firm's MR exceeds its MC, maximum profit rule requires that firm to:
Increase in output in both perfect and imperfect competition
107 - The basic goal of a firm is to:
107 - The basic goal of a firm is to:
Maximize profit
108 - A firm decides to exit the industry when:
108 - A firm decides to exit the industry when:
Price is less than LAC
109 - Profit is maximum when:
109 - Profit is maximum when:
TC and TR curves are parallel
110 - In monopoly and perfect competition the cost curves are:
110 - In monopoly and perfect competition the cost curves are:
Same
111 - Normal profit is called normal because:
111 - Normal profit is called normal because:
It is minimum acceptable to the producer
112 - If a firm shuts down temporarily, it will incur loss equal to:
112 - If a firm shuts down temporarily, it will incur loss equal to:
TFC
113 - Under perfect competition:
113 - Under perfect competition:
AR = MR
114 - The necessary condition for equilibrium position of a firm is:
114 - The necessary condition for equilibrium position of a firm is:
MC = MR
115 - When a competitive firm achieves long run equilibrium then:
115 - When a competitive firm achieves long run equilibrium then:
All of the above
116 - The most efficient scale of production of a firm is where:
116 - The most efficient scale of production of a firm is where:
LAC is minimum
117 - A firm should shut down in the short run if it is not covering its:
117 - A firm should shut down in the short run if it is not covering its:
Variable cost
118 - Every factor of production gets reward equal to:
118 - Every factor of production gets reward equal to:
Value of average product
119 - Under perfect competition, demand for a factor is its:
119 - Under perfect competition, demand for a factor is its:
MRP curve
120 - We should employ units of a factor to a point where:
120 - We should employ units of a factor to a point where:
MP is equal to price of the factor
121 - If marginal product of labour rises because of new technology:
121 - If marginal product of labour rises because of new technology:
Wages will rise
122 - One of the following is NOT a assumption of the marginal productivity theory:
122 - One of the following is NOT a assumption of the marginal productivity theory:
Low price of factor
123 - Increasing the minimum wage for workers will:
123 - Increasing the minimum wage for workers will:
Cause a substitution of capital for labour
124 - Union leaders are in a better position to bargain for higher wages if demand for labour is:
124 - Union leaders are in a better position to bargain for higher wages if demand for labour is:
Inelastic
125 - Sometimes the supply curve of labour ends:
125 - Sometimes the supply curve of labour ends:
Backward
126 - In which form the largest percentage of national income is earned:
126 - In which form the largest percentage of national income is earned:
Employees' wages
127 - The minimum wage is an example of:
127 - The minimum wage is an example of:
Price floor
128 - A firm maximizes profit if:
128 - A firm maximizes profit if:
MRP = Wage rate
129 - Who is unemployed:
129 - Who is unemployed:
A freshly graduated engineer who is searching for a job
130 - Standard of living of workers depends upon their:
130 - Standard of living of workers depends upon their:
Real wages
131 - Doctors get higher wages than clerks because:
131 - Doctors get higher wages than clerks because:
Doctors are in short supply
132 - Under Marginal productivity Theory, reward for labour is determined by:
132 - Under Marginal productivity Theory, reward for labour is determined by:
Marginal product
133 - The economist Ricardo argued that prices were _____ because land rents were _______
133 - The economist Ricardo argued that prices were _____ because land rents were _______
High, Low
134 - As for the cost of production of an individual farmer, the rent paid by him:
134 - As for the cost of production of an individual farmer, the rent paid by him:
Enters into the price of his product
135 - He presented a theory of rent:
135 - He presented a theory of rent:
Ricardo
136 - The following affect rent EXCEPT:
136 - The following affect rent EXCEPT:
Cleverness of landlords
137 - These are kinds of rent EXCEPT:
137 - These are kinds of rent EXCEPT:
Mobility rent
138 - This is capital:
138 - This is capital:
Machinery
139 - According to Keynes interest is a payment for:
139 - According to Keynes interest is a payment for:
Liquidity preference
140 - Interest is paid because:
140 - Interest is paid because:
Capital is scarce
141 - With decrease in price of bonds, rate of interest:
141 - With decrease in price of bonds, rate of interest:
Increases
142 - Every factor of production gets reward equal to its:
142 - Every factor of production gets reward equal to its:
Marginal product
143 - According to Keynes, interest is a payment for:
143 - According to Keynes, interest is a payment for:
Use of money
144 - In economics capital refers to:
144 - In economics capital refers to:
Machinery and factories
145 - If rate of interest is 10% the PV (present value) of Rs. 100 received in 1 years time is:
145 - If rate of interest is 10% the PV (present value) of Rs. 100 received in 1 years time is:
9
146 - Professor Knight is famous for his theory of:
146 - Professor Knight is famous for his theory of:
Profit
147 - Profits:
147 - Profits:
Are residual payment
148 - Profits:
148 - Profits:
All of the above
149 - Profits:
149 - Profits:
Are necessary
150 - Profits arise because an entrepreneur:
150 - Profits arise because an entrepreneur:
Both (a) and (b)
151 - Profits:
151 - Profits:
All of the above are true
152 - Gross profit does NOT include:
152 - Gross profit does NOT include:
Taxes
153 - Some economists say that profit earner is a kind of:
153 - Some economists say that profit earner is a kind of:
Wage earner
154 - Risks in the business arise because of:
154 - Risks in the business arise because of:
All the above
155 - According to Professor Knight risks are of _____ kinds:
155 - According to Professor Knight risks are of _____ kinds:
2
156 - This is not a function of the entrepreneur:
156 - This is not a function of the entrepreneur:
Lend money
157 - Elinor Ostrom and Oliver Williamson are the Nobel Prize Laureates in Economics in 2009. Do you know in which year was Francois Quesnay's Tableu Economique published?
157 - Elinor Ostrom and Oliver Williamson are the Nobel Prize Laureates in Economics in 2009. Do you know in which year was Francois Quesnay's Tableu Economique published?
1758
158 - Identify the author of "The Principles of Political Economy and Taxation":
158 - Identify the author of "The Principles of Political Economy and Taxation":
David Ricardo
159 - Who is generally regarded as the founder of the "Classical School"?
159 - Who is generally regarded as the founder of the "Classical School"?
Adam Smith
160 - Identify the economist who had little formal education and started working in the money market at an early age of fourteen.
160 - Identify the economist who had little formal education and started working in the money market at an early age of fourteen.
David Ricardo
161 - "The labour of Nature is paid, not because she does much, but because she does little. In proportion as she becomes niggardly in her gifts, whe exacts a greater price for her work." Who made this observation?
161 - "The labour of Nature is paid, not because she does much, but because she does little. In proportion as she becomes niggardly in her gifts, whe exacts a greater price for her work." Who made this observation?
Lauderdale
162 - Who first raised fears of a world food shortage?
162 - Who first raised fears of a world food shortage?
T.R.Malthus
163 - When was Adam Smith's major work "An Enquiry into the Nature and Causes of Wealth of Nations" published?
163 - When was Adam Smith's major work "An Enquiry into the Nature and Causes of Wealth of Nations" published?
1776
164 - "The real price of every thing, what every thing really costs to the man who wants to require it, is the toil and trouble of acquiring it. Who made this statement?
164 - "The real price of every thing, what every thing really costs to the man who wants to require it, is the toil and trouble of acquiring it. Who made this statement?
Adam Smith
165 - "Rent is a creation of value, not of wealth." Who made this observation?
165 - "Rent is a creation of value, not of wealth." Who made this observation?
David
166 - In which year was the first volume of Das Capital be Karl Marx published?
166 - In which year was the first volume of Das Capital be Karl Marx published?
1867
167 - The Critique of Political Economy, the first fruits of Karl Marx's long painstaking research at the British Museum, appeared in:
167 - The Critique of Political Economy, the first fruits of Karl Marx's long painstaking research at the British Museum, appeared in:
1859
168 - The Communist Manifesto, written jointly by Marx and Engel's, was published in:
168 - The Communist Manifesto, written jointly by Marx and Engel's, was published in:
1848
169 - Who stated explicitly for the first tirr the law of comparative costs?
169 - Who stated explicitly for the first tirr the law of comparative costs?
David Ricardo
170 - Identify the school founded by Wilhelm Roscher:
170 - Identify the school founded by Wilhelm Roscher:
Historical School
171 - One of the following economists do not belong to the Austrian School. Identify him:
171 - One of the following economists do not belong to the Austrian School. Identify him:
J.S. Mill
172 - Which one of the following theories of trade cycle was propounded by W.S. Jevons?
172 - Which one of the following theories of trade cycle was propounded by W.S. Jevons?
Sunspot Theory
173 - What was the nationality of Frederic List?
173 - What was the nationality of Frederic List?
German
174 - "The Purchasing Power Parity Theory" came into prominence in 1916 through the writings of:
174 - "The Purchasing Power Parity Theory" came into prominence in 1916 through the writings of:
Gustav Cassel
175 - The input-output analysis owes its origin and development to:
175 - The input-output analysis owes its origin and development to:
W.W.Leontief
176 - Who wrote "An Introduction to Positive Economics"?
176 - Who wrote "An Introduction to Positive Economics"?
R.G.Lipsey
177 - Identify the author of "Mathematical Analysis for Economists:"
177 - Identify the author of "Mathematical Analysis for Economists:"
R.G.D.Alien
178 - Which of the following is not correctly matched?
178 - Which of the following is not correctly matched?
R.F. Harrod: Income and Money
179 - Who among the following well-known economists graduated from the London School of Economics?
179 - Who among the following well-known economists graduated from the London School of Economics?
N.Kaldor
180 - "The Strategy of Economic Development" is the work of:
180 - "The Strategy of Economic Development" is the work of:
A.O.Hirshman
181 - Who is the author of "Problems of Capital Formation in Underdeveloped Countries"?
181 - Who is the author of "Problems of Capital Formation in Underdeveloped Countries"?
R. Nurkse
182 - Identify the work of Irving Fisher
182 - Identify the work of Irving Fisher
The Making of Index Numbers
183 - Who wrote "There are no longer any believers in laissez-faire except on the lunatic fringe the truth is that we are all planners now"?
183 - Who wrote "There are no longer any believers in laissez-faire except on the lunatic fringe the truth is that we are all planners now"?
W.A.Lewis
184 - Who coined the phrase a temporary abode of purchasing power' while explaining the concept of money?
184 - Who coined the phrase a temporary abode of purchasing power' while explaining the concept of money?
Milton Friedman
185 - Who developed the "Keynesian Theory of Distribution"?
185 - Who developed the "Keynesian Theory of Distribution"?
N.Kaldor
186 - Identify the economist who propounded the "Liquidity Preference Theory of Interest":
186 - Identify the economist who propounded the "Liquidity Preference Theory of Interest":
J.M.Keynes
187 - Which one among the following does not match?
187 - Which one among the following does not match?
Jagdish Bhagwati - Princeton
188 - Which of the following is not the work of J.B. Clark?
188 - Which of the following is not the work of J.B. Clark?
Economics of Overhead Costs
189 - Identify the economist who propounded the "Time Preference Theory of Interest":
189 - Identify the economist who propounded the "Time Preference Theory of Interest":
Bohm Bawerk
190 - Who developed the concept of "Representative Firm"?
190 - Who developed the concept of "Representative Firm"?
Alfred Marshall
191 - Identify the work of T.Schultz:
191 - Identify the work of T.Schultz:
Transforming Traditional Agriculture
192 - Which of the following does not match?
192 - Which of the following does not match?
H.Myint: Economic Theory and Underdeveloped Regions
193 - Which of the following Alfred Marshall's works was first published?
193 - Which of the following Alfred Marshall's works was first published?
The Pure theory of Foreign trade
194 - Who first used the term 'quasi-rent'?
194 - Who first used the term 'quasi-rent'?
Alfred Marshall
195 - How old was Alfred Marshall when he died?
195 - How old was Alfred Marshall when he died?
82 years
196 - Among the following Noble Prize winners for Economics one is an Austrian economist. Identify him:
196 - Among the following Noble Prize winners for Economics one is an Austrian economist. Identify him:
F.A. von Hayek
197 - Who used the term consumption capital for consumers goods?
197 - Who used the term consumption capital for consumers goods?
Alfred Marshall
198 - Whose words are these? "We might as reasonable dispute whether it is the upper or the under blade of a pair of scissors that cuts a piece of paper as whether value is governed by utility or cost of production."
198 - Whose words are these? "We might as reasonable dispute whether it is the upper or the under blade of a pair of scissors that cuts a piece of paper as whether value is governed by utility or cost of production."
Alfred Marshall
199 - Who introduced the concept of "Elasticity of Demand into Economic Theory"?
199 - Who introduced the concept of "Elasticity of Demand into Economic Theory"?
Alfred Marshall
200 - Though the concept of consumers surplus can be traced back to the French engineer economist Dupuit, it was another economist who gave a precise formulation stating the necessary assumption of this concept. Identify the economist.
200 - Though the concept of consumers surplus can be traced back to the French engineer economist Dupuit, it was another economist who gave a precise formulation stating the necessary assumption of this concept. Identify the economist.
Alfred Marshall
Pages
No comments:
Post a Comment
Your Valued Comments Help us to improve our site. Thanks