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ECO401 – Economics

In ECO401 Economics we have you covered with Digitized Past Papers From Fall of Mid Term and Final Term.

NOTE: Click on Preparation Tab to take the MCQ’s Tests.

ECO401 Final Term Paper Session-2                                         View     Download
ECO401 Final_current quizzes 500+WAJID MALIK                    View     Download
ECO401_Final current quizzes 700 by Afaaq                              View     Download
ECO401_Final current quizzes700                                              View     Download
ECO401_Final PAPER 3                                                             View     Download
ECO401_Final PAPER 4                                                             View     Download
ECO401_Final paper5                                                                 View     Download
ECO401_Final Quiz mega 1 to 40 solved by ashiq                     View     Download
POSTED DATE:27-01-2019               GDB IDEA SOLUTION

Four types of market structure
monopolistic competition
perfect competition 
 in our case there is a perfect competition because so many sellers having fanatical or same products. which are characteristics of perfect competition.
Pure or perfect competition is a theoretical market structure in which the following criteria are met: all firms sell an identical product (the product is a “commodity” or “homogeneous”); all firms are price takers (they cannot influence the market price of their product); market share has no influence on price; buyers have complete or “perfect” information – in the past, present and future – about the product being sold and the prices charged by each firm; resources such a labor are perfectly mobile; and firms can enter or exit the market without cost.

ECO401– Practice Quiz 1

ECO401– Practice Quiz 2

ECO401– Practice Quiz 3

ECO401– Practice Quiz 4

ECO401– Practice Quiz 5



    Select correct option:
    The price the firm paid divided by twelve.
    The rent the firm could earn if it rented the building to another firm.
    The monthly mortgage payment the firm would have had to pay.
    Question # 14 of 15 ( Start time: 01:24:38 AM ) Total M
    With less consumption and more savings the interest rate will drop
    In the short run workers are fully employed and cannot produce enough to get to long
    run equilibrium
    Wages and prices are flexible
    Wages and prices are sticky
    Question # 1 of 15 ( Start time: 06:29:43 AM ) Total Marks: 1
    Many economists and government analysts have investigated the effect of a minimum
    wage on labour markets. The general conclusion reached by the investigators is that:
    Select correct option:
    The overall effect of the minimum wage is an increase in the unemployment level.
    Teenagers gain most of the beneficial employment effects of the minimum wage.
    All industries are equally affected by the minimum wage laws.
    Over a period of time, the minimum wage laws will increase employment in the
    Question # 2 of 15 ( Start time: 06:30:36 AM ) Total Marks: 1
    The war in Iraq sent oil prices spiraling upwards, resulting in an increase in the overall
    price level. This is an example of which type of inflation?
    Select correct option:
    Question # 3 of 15 ( Start time: 06:31:25 AM ) Total Marks: 1
    Which of the following concepts apply to oligopoly more than to any other market
    Select correct option:
    Advertising and product differentiation
    Easy entry and more than one firm in the market
    Homogeneous product and perfect information
    Concentration and interdependence
    Question # 4 of 15 ( Start time: 06:31:33 AM ) Total Marks: 1
    We know that the demand for a good or service is inelastic if:
    Select correct option:
    When price rises, quantity demanded rises.
    When price rises, quantity demanded falls.
    When price rises, total revenue rises.
    When price rises, total revenue falls.
    Question # 5 of 15 ( Start time: 06:31:49 AM ) Total Marks: 1
    A “Giffen good” is defined as one for which:
    Select correct option:
    Marginal utility is zero.
    The demand curve is perfectly elastic.
    The substitution effect is positive.
    The demand curve is positively sloped.
    Question # 6 of 15 ( Start time: 06:33:01 AM ) Total Marks: 1
    An economist will define the exchange rate between two currencies as the:
    Select correct option:
    Amount of one currency that must be paid in order to obtain one unit of another
    Difference between total exports and total imports within a country.
    Price at which the sales and purchases of foreign goods takes place.
    Ratio of import prices to export prices for a particular country.
    Question # 7 of 15 ( Start time: 06:33:50 AM ) Total Marks: 1
    In a production process, all inputs are increased by 10%; but output increases more than
    10%. This means that the firm experiences:
    Select correct option:
    Decreasing returns to scale.
    Constant returns to scale.
    Question # 9 of 15 ( Start time: 06:34:05 AM ) Total Marks: 1
    Personal income:
    Select correct option:
    Is income received by individuals during a given year.
    Isthe income individuals have available for spending during a given year.
    Equals national income minus indirect taxes.
    Isthe sum of wages plus interest received by individuals during a given year.
    Question # 10 of 15 ( Start time: 06:34:29 AM ) Total Marks: 1
    When the demand curve is downward sloping, marginal revenue is:
    Select correct option:
    Equal to price.
    Equal to average cost.
    Less than price.
    More than price.

  2. Danish Shabbir

    Mid-Term Paper Upload kar dein