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Economics
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Question-1
Economic rent according to modern economists is the payment made to a factor _________.
(A)
Greater than supply price
(B)
Less than supply price
(C)
equal to supply price
(D)
none of these
Question-2
________ disappears in the long-run.
(A)
Economic rent
(B)
Quasi-rent
(C)
Normal rent
(D)
none of these
Question-3
____ is the whole payment made to the lender for lending the money capital.
(A)
Temporary interest
(B)
gross interest
(C)
pure interest
(D)
net interest
Question-4
The difference between total revenue and implicit cost is known as ___________.
(A)
Gross profit
(B)
Net profit
(C)
Simple profit
(D)
Wages
Question-5
Modern theory of rent was developed by __________.
(A)
Ricardo
(B)
Robinson
(C)
Marshall
(D)
Edge worth
Question-6
Modern economist use the concept of ___________ rather than simple rent.
(A)
Marginal rent
(B)
factor payment
(C)
Economic rent
(D)
none of these
Question-7
Richardo considered that the highest fertile land would cultivate __________.
(A)
First
(B)
secondly
(C)
Thirdly
(D)
last
Question-8
Marginal productivity theory assumes that rent is paid for _________.
(A)
marginal product
(B)
Production
(C)
distribution
(D)
None of these
Question-9
Marginal land according to Richardo is __________.
(A)
No rent land
(B)
High rent land
(C)
1 and 2
(D)
use the natural resources only
Question-10
Net profit is otherwise known as ______.
(A)
Gross profit
(B)
Pure profit
(C)
Simple profit
(D)
Wages
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Plus 2 Humanities
ICSE/ISC
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- GOVERNMENT BUDGET
PUBLIC FINANCE;TAXATION
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