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Please all students related this subject Share your online Quizzes here to help each other.thanks

 

Please share the question and their answers of this quiz if anyone has done.
Thanks. 

plz anyone who had done the quiz plz share plzzzzzzzzz

hello lets do it now

post zrur krna bhai jan

Bro agr Quiz attempt kia hy to share kro :P

ok Bro, Waiting

good to see the great effort

Important Announcement for quiz

Dear students of Eco401,

This is to inform you that Quiz # 01 is non-graded. It is just for your practice and its marks will not be included in your final grading.

Graded Quiz # 02 will be opened on November 17, 2014 and last date to attempt that graded quiz will be November 19, 2014. This graded quiz will be from Lessons 01-08.

Wish you Good Luck!

Important Announcement for quiz

Dear students of Eco401, This is to inform you that Quiz # 01 is non-graded. It is just for your practice and its marks will not be included in your final grading.

Graded Quiz # 02 will be opened on November 17, 2014 and last date to attempt that graded quiz will be November 19, 2014. This graded quiz will be from Lessons 01-08.

Wish you Good Luck!

1 In a free market economy, resources are allocated on the basis of:

 

a)          vote taken by consumer

b)    a central planning authority

c)     consumers preferences == ans

d)    the level of profit of firm

2       Accounts office of Z&X corporations has paid Rs.250000 on account of profit in the month of August 2011. Which of the following the accounts office has paid for?

a)      Labour == ans

b)     capital

c)      land

d)     entrepreneur

3       If the quantity demanded of mangoes exceeds the quantity supplied of mangoes:  

a)there is a surplus of mangoes

b) market force will cause the price to fall

c) market force will cause the price to rise  == ans

d) the market is in equilibrium

4The process by which we limit the supply or amount of some economic factor which is scarcely available is called:

a) Rationing  == ans

b) Budling

c)  price floor

d) price ceiling

5A point on a nation’s production possibility frontier shows:

a) an undesireable combination of good and services

b) an unatainable combination of good and services

c) That resources are fully employed in producing particulars goods and services

d) the level of production that will cause both unemployment and inflation

6  Which of the following factors would cause leftward shift in supply curve for bicycles?

a) Decrease in wages

b) increase in price of input  === ans

c) Decrease in price of input

d) use the latest technology in production of bicycle

7 Measurement of elasticites is made in percentage terms because:

a) it is easy to calculate

b) the resulting measurement is unit free === ansc) it give a more accurate answer

d) the answer is always negative way

8 Suppose quantity demanded of chicken increases by 5 percent in response to 2 percent increase in price of beef. The cross-price elasticity of demand for chicken with respect to price of beef is:

a) +2.5  ==ans

B) -2.5

c) +.25

d) -.25

9 Normally the shape of production possibility frontier is:

a) positive === not confrm

b) convex

c) lenear

d) concave

10 If desk lamps and bulbs are complementary goods, a fall in price of desk lamps will shift the demand curve for:

a) bulbs to the right

b) bulbs to the right

c) Desk lamps to the right

d) desk lamps to the left====ans

Complementary goods

Two products for which the demand schedules are related to each other so that an increase in the price of the first good will cause a leftward shift of the entire demand schedule for the other good(s) -- that is, less of the second good will now be demanded at any given available price of the second good. (By the same token, a decrease in the price of the first good will result in a rightward shift of the entire demand schedule for the other good(s), so that more of the second good will now be demanded at any given available price for the second good.

Quiz 1 contain on 20 MCQ

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