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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