GK Economics Test 4

GK – Economics Test – 04

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1. A shift to the left of a demand curve could be due to a .

 
 
 
 

2. Equilibium exists in the market far a commodity when

 
 
 
 

3. Which of the following is not likely to cause an increase in the population ?

 
 
 
 

4. The principle of diminishing marginal utility implies that

 
 
 
 

5. If the demand and supply schedules for a commodity both increase by an equal absolute amount, the market price will tend to

 
 
 
 

6. The supply schedule far a commodity is usually assumed to be directly ‘Open to influence by all the follawing, except

 
 
 
 

7. Casts which vary with output amy be called

 
 
 
 

8. Which of the following could explain why the supply curve far a commodity slopes downwards?

 
 
 
 

9. The marginal productivity theory of wages states that

 
 
 
 

10. Which of the following do not enter into marginal casts?

 
 
 
 

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