BOARD OF INTERMEDIATE EDUCATION, KARACHI

INTERMEDIATE EXAMINATION, 2012 (ANNUAL) Date: 04.06.2012 9:30 a.m. to 9:50 a.m.
The correct answers are highlighted in red colour:

ECONOMICS PAPER I
(Science General Group) SECTION A (MULTIPLE CHOICE QUESTIONS M.C.Qs.)

Max. Marks: 20 Time: 20 minutes

NOTE:

i) ii) iii)

This section consists of 20 part questions and all are to be answered. Write this Code No. in the Answerscript. Each question carries one mark. Do not copy down the part questions in your answerbook. Write only the answer in full against the proper number of the question and its part. The code number of your question paper is to be written in bold letters in the beginning of the answerscript.

1.

Choose the correct answer for each from the given options: i) ii) Economics is the Science of Material Welfare is said by: * Adam Smith * Marshall This is a non-economic activity: * Services of a doctor * Services of a teacher * * * Keynes * Malthus

Morning walk Services of an advocate

iii)

The Land as a factor of Production has characteristic(s) of: * free gift of nature * limited supply * difference in fertility * all of these When Total utility is maximum, the Marginal utility is: * positive * negative A Supply curve usually slopes from: * left to right * left to right downward Equilibrium price is determined by: * demand only * interaction of demand and supply Market is an area where: * Products are sold * Prices fluctuate Total Cost is equal to: * AC + MC * * * * * * * AFC + AVC * zero * none of these

iv) v)

right to left left to right upward supply only none of these Buyers and sellers come in contact with each other Prices remain constant * FC + VC * none of these none of these Interest

vi)

vii)

viii) ix) x) xi)

The Law of Diminishing Returns is also known as the Law of: * Constant Costs * Increasing Costs * The reward of an entrepreneur is known as : * Rent * Wage Low standard of living in Pakistan is due to: * high population growth rate * shortage of capital formation The Cash Crop of Pakistan is: * Wheat * Maize * * * Profit

Diminishing Costs * *

low agricultural yield all of these * * Cotton Automobile Faisalabad 5.7% * * * * Rice Sugar Wazirabad 14%

xii) xiii) xiv) xv) xvi) xvii) xviii)

This is the largest Industry of Pakistan: * Textile * Cement

The main Centre of Sports goods industry in Pakistan is: * Gujranwala * Sialkot * In Pakistan, the total area of Forests is: * 13.5% * 4.8% *

In Pakistan, the largest deposits of Coal are found in the province of: * Punjab * Sindh * Balochistan P.I.D.C. was established in the year A.D.: * 1960 * 1948 The Scale of Production is determined by: * extent of market * financial resources * * * 1952

* Khyber Pakhtoon Khwa * 1972

production technique all of these * * Islamabad more than one * * Lahore zero

xix) xx)

The first Atomic Energy plant was established in: * Karachi * Peshawar The Price elasticity of demand for necessities is always: * equal to one * less than one

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