Economics is a _______science

(a)

Social

(b)

Moral

(c)

Physical

(d)

Natural

Production is the process of transformation of inputs into_______________.

(a)

distribution

(b)

exchange

(c)

output

(d)

marketing

The law of Diminishing Marginal utility called as

(a)

Gossen's first Law of Consumption

(b)

Law of Demand

(c)

Law of Substitution

(d)

The law of Maximum Satisfaction

__________ represent Human capital.

(a)

Money

(b)

Efficiency

(c)

Hard work

(d)

All the above

Land is _________ in supply.

(a)

Fixed

(b)

Decreased

(c)

Increased

(d)

Equal

Monopoly power achieved through patent right is called______________.

(a)

Natural monopoly

(b)

State monopoly

(c)

Legal monopoly

(d)

Absolute monopoly

A surplus that a producer receives over ________ from the sale of output.

(a)

Fixed cost

(b)

Average cost

(c)

LAC

(d)

Variable cost

__________referred by 'rent' to the payment made for the use of agricultural land.

(a)

Marshall

(b)

Malthus

(c)

Ricardo

(d)

Robbins

Gandhi advocated cent per cent ____________.

(a)

Prohibition

(b)

Industrialization

(c)

Socialism

(d)

Agricultural Economics

Which system was least oppressive before independence?

(a)

Ryotwari

(b)

Mahalwari

(c)

Zamindari

(d)

None of these