100+ World Economy Online Test - 1
Question: 1
_____ referred by ‘rent’ to the payment made for the use of agricultural land.
(A) Robbins
(B) Ricardo
(C) Malthus
(D) Marshall
Ans: B
Ricardo
Question: 2
At the point of equilibrium _____
(A) At the point of equilibrium
(B) Quantity demanded = quantity supplied
(C) Only one price prevails
(D) All the above
Ans: D
All the above
Question: 3
The changing agent of the society is called _____
(A) Woman
(B) Man
(C) Organizer
(D) Labour
Ans: C
Organizer
Question: 4
All desires, takes and motives of human begins are called _____ in economics.
(A) Wants
(B) Utility
(C) Demand
(D) Consumption
Ans: A
Wants
Question: 5
The shape of the exception to the law of demand is _____
(A) Vertical
(B) Horizontal
(C) Upward sloping
(D) Downward sloping
Ans: C
Upward sloping
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