| 1 |
<strike>P</strike>ower of a product which can satisfy human want is. |
- A. Utility
- B. Total utility
- C. Average utility
- D. Marginal utility
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| 2 |
Goods which can satisfy human wants are. |
- A. Consumer goods
- B. Capital goods
- C. Social goods
- D. Public goods
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| 3 |
Economic wants. |
- A. Can unlimited
- B. Capital goods
- C. Social goods
- D. Public goods
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| 4 |
Utility and usefulness are |
- A. equal
- B. different
- C. opposite
- D. unrelated
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| 5 |
Utility is most closely related to the term |
- A. useful
- B. useless
- C. necessary
- D. satisfaction
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| 6 |
The number of goods and services which one unit of a product can command in exchange for it is its. |
- A. Value of money
- B. Value in exchange
- C. Price
- D. Utility
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| 7 |
One of the following will not be the income of a person. |
- A. Wages
- B. Profit
- C. Sccholarship
- D. Salary
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| 8 |
Diminishing marginal utility is the basis of |
- A. law of supply
- B. law of demand
- C. laws of returns
- D. none of the above
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| 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
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| 10 |
If a person consumes goods X and Y maximises total utility, then MU per rupee from the two goods must be |
- A. equal
- B. unequal
- C. increasing
- D. decreasing
|