1 |
Indifference curves are convex to the origin because |
- A. two goods are perfect substitutes
- B. two goods are imperfect substitutes
- C. two goods are perfect complementary goods
- D. goods area jointly demanded
|
2 |
Economic wants. |
- A. Can unlimited
- B. Capital goods
- C. Social goods
- D. Public goods
|
3 |
Rotten eggs are |
- A. free good
- B. economic good
- C. service
- D. wealth
|
4 |
The good which are used to produce more goods are.`` |
- A. Social goods
- B. Capital goods
- C. Consumer goods
- D. Public goods
|
5 |
The value of a product depends upon. |
- A. The number of dollars
- B. The numbers of dollars which can be given in exchange for it
- C. The current exchange rate.
- D. None of them
|
6 |
Utility and usefulness are |
- A. equal
- B. different
- C. opposite
- D. unrelated
|
7 |
Diminishing marginal utility is the basis of |
- A. law of supply
- B. law of demand
- C. laws of returns
- D. none of the above
|
8 |
In economics, one or more persons sharing common consumer budget is called |
- A. social group
- B. consumer union
- C. organisation
- D. household
|
9 |
The utility of durable consumer goods. |
- A. Diminishes with the passage of time
- B. Perishes, if not used
- C. Can be obtained constantly
- D. None of the three
|
10 |
A product which has value price in the market has. |
- A. Utility
- B. Scarcity
- C. Transferability
- D. All the three
|