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Regarding economic decisions, economics of uncertainty identifies:

A. No risks

B. Risks

C. Safety

D. None of the above

Correct Answer : B.


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  2. The average cost curve is a geometrical illustration of:
  3. A budget line shows:
  4. Rational economic behavior on the part of the consumer means that he will:
  5. A monopolist is:
  6. Monopoly means:
  7. Identify the author of The Principles of political Economy and Taxation:
  8. The slope of indifference curve shows:
  9. By scarcity the economist means that all goods are scarce relative the peoples:
  10. The firm producing at the minimum point of the AC curve is said to be:
  11. The utility function u = f(x) is based upon :
  12. In Nash equilibrium, a player:
  13. If Cobb-Douglas production function is homogeneous of degree less than one (n
  14. Who is the author of Choice of Technique?
  15. When the slope of a demand curve is infinite (also known as horizontal demand curve) then elasticity…
  16. Identify the author of The Social Framework:
  17. The point where the supply and demand curves intersect on a graph determines:
  18. If a good is an inferior good then an increase in incomes of the consumers will:
  19. In the theory of firm, Chamberline presented the idea of:
  20. The monopolist often lead to exploitation of:
  21. If a consumer buys a product that costs Rs.3 and provides an additional 18 units of satisfaction, then…
  22. The marginal revenues are derivatives of:
  23. A market demand schedule is obtained by adding individual demand schedules:
  24. According to the principle of substitution?
  25. The elasticity of substitution measures the percentage change in the ratio of inputs when any producer…
  26. If Cobb-Douglas production function is homogeneous of degree greater than one (n>1), then it shows:
  27. An optimum level of a firms output is:
  28. The costs faced by the firm against fixed factors are:
  29. In 1776, a famous book An enquiry into the nature and causes of the wealth of nation was written by:
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