[{"id":180678,"question":"Law of equimarginal utility is also called.","choices":[{"text":"Law of substitution","value":"A"},{"text":"Law of maximum social benefits","value":"B"},{"text":"Law of economy","value":"C"},{"text":"Law of maximum satisfaction","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":180675,"question":"According to law of equi-marginal utility a consumer will maximises his total utility when","choices":[{"text":"He spends all his income on the product only","value":"A"},{"text":"He spends more on one and less on the other","value":"B"},{"text":"Marginal utility of the two goods are equalised","value":"C"},{"text":"Not only the marginals utility of the two goods are equalised, but also the marginal utility of each good is equal to its price.","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":180671,"question":"Total utility is maximised when.","choices":[{"text":"Marginal utility is zero","value":"A"},{"text":"Marginal utility falls","value":"B"},{"text":"Marginal utility rises","value":"C"},{"text":"Non of the above","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":180668,"question":"According to law of diminishing marginal utilities , a consumer maximises his total utility where.","choices":[{"text":"MU<sub>a</sub> = MP<sub>a</sub>","value":"A"},{"text":"MU<sub>a</sub> = AU<sub>a</sub>","value":"B"},{"text":"MU<sub>a</sub> = TC<sub>a</sub>","value":"C"},{"text":"MU<sub>a</sub> = P<sub>a</sub>","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":180665,"question":"General price level and real income of the people are correlated with each other","choices":[{"text":"Negatively","value":"A"},{"text":"Positovely","value":"B"},{"text":"Normally","value":"C"},{"text":"Sub normally","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":180663,"question":"One of the following will not be the income of a person.","choices":[{"text":"Wages","value":"A"},{"text":"Profit","value":"B"},{"text":"Sccholarship","value":"C"},{"text":"Salary","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":180658,"question":"A product which has value price in the market has.","choices":[{"text":"Utility","value":"A"},{"text":"Scarcity","value":"B"},{"text":"Transferability","value":"C"},{"text":"All the three","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":180657,"question":"The number of goods and services which one unit of a product can command in exchange for it is its.","choices":[{"text":"Value of money","value":"A"},{"text":"Value in exchange","value":"B"},{"text":"Price","value":"C"},{"text":"Utility","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":180656,"question":"Utility of a product depends upon","choices":[{"text":"Knowledge","value":"A"},{"text":"Ownership","value":"B"},{"text":"Form","value":"C"},{"text":"All of them","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":180655,"question":"<strike>P</strike>ower of a product which can satisfy human want is.","choices":[{"text":"Utility","value":"A"},{"text":"Total utility","value":"B"},{"text":"Average utility","value":"C"},{"text":"Marginal utility","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":180654,"question":"The good which are used to produce more goods are.``","choices":[{"text":"Social goods","value":"A"},{"text":"Capital goods","value":"B"},{"text":"Consumer goods","value":"C"},{"text":"Public goods","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":180652,"question":"Goods which can satisfy human wants are.","choices":[{"text":"Consumer goods","value":"A"},{"text":"Capital goods","value":"B"},{"text":"Social goods","value":"C"},{"text":"Public goods","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":180650,"question":"Economic wants.","choices":[{"text":"Can unlimited","value":"A"},{"text":"Capital goods","value":"B"},{"text":"Social goods","value":"C"},{"text":"Public goods","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":180648,"question":"The price of an non-economic good is:","choices":[{"text":"Very low","value":"A"},{"text":"Very high","value":"B"},{"text":"Zero","value":"C"},{"text":"Negative","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":180646,"question":"The value of a product depends upon.","choices":[{"text":"The number of dollars","value":"A"},{"text":"The numbers of dollars which can be given in exchange for it","value":"B"},{"text":"The current exchange rate.","value":"C"},{"text":"None of them","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":180644,"question":"The utility of durable consumer goods.","choices":[{"text":"Diminishes with the passage of time","value":"A"},{"text":"Perishes, if not used","value":"B"},{"text":"Can be obtained constantly","value":"C"},{"text":"None of the three","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":180641,"question":"Shopkeepers are also producers because in goods, they produce.","choices":[{"text":"Form utility","value":"A"},{"text":"Time utility","value":"B"},{"text":"Use utility","value":"C"},{"text":"Place utility","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":180640,"question":"Only those goods are priced in the market which have:","choices":[{"text":"Utility","value":"A"},{"text":"Sacrcity","value":"B"},{"text":"Transferability","value":"C"},{"text":"All of the above","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":180639,"question":"The goods used to produce income or wealth are.,","choices":[{"text":"Consumer goods","value":"A"},{"text":"Manufactured goods","value":"B"},{"text":"Merit goods","value":"C"},{"text":"Capital goods","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":180638,"question":"Food, Shelter and clothing are:","choices":[{"text":"Necessities","value":"A"},{"text":"Comfort","value":"B"},{"text":"Luxuries.","value":"C"},{"text":"None of three","value":"D"},{"value":"E"}],"correctAnswer":1}]