| 1 |
Utility of a product depends upon |
- A. Knowledge
- B. Ownership
- C. Form
- D. All of them
|
| 2 |
Economic wants. |
- A. Can unlimited
- B. Capital goods
- C. Social goods
- D. Public goods
|
| 3 |
When marginal is negative, it must be true that |
- A. the average is negative
- B. the average is decreasing
- C. the total is negative
- D. the total is decreasing
|
| 4 |
Utility and usefulness are |
- A. equal
- B. different
- C. opposite
- D. unrelated
|
| 5 |
the term marginal in economics means |
- A. unimportant
- B. additional
- C. the minimum unit
- D. just barely passing
|
| 6 |
<strike>P</strike>ower of a product which can satisfy human want is. |
- A. Utility
- B. Total utility
- C. Average utility
- D. Marginal utility
|
| 7 |
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
|
| 8 |
Food, Shelter and clothing are: |
- A. Necessities
- B. Comfort
- C. Luxuries.
- D. None of three
|
| 9 |
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
|
| 10 |
Diminishing marginal utility is the basis of |
- A. law of supply
- B. law of demand
- C. laws of returns
- D. none of the above
|
