| 1 |
The relationship between two variables that move in the same direction is called |
- A. neutral
- B. positive
- C. independent
- D. dependent
|
| 2 |
The utility of an additional unit of a product is |
- A. Law of demand
- B. Law of substitution
- C. Law of supply
- D. Law of diminishing marginal utility
|
| 3 |
A variable is a symbol which, during a discussion, may assume different values or a set of admissible values. This is the definition of |
- A. Prof. Kooros
- B. Prof. Marshall
- C. Prof. Rabbins
- D. Prof. Kneez
|
| 4 |
How many kinds of Function |
|
| 5 |
This is a tool in economic studies |
- A. market
- B. price
- C. firm
- D. functional relation
|
| 6 |
According to law of equi-marginal utility a consumer will maximises his total utility when |
- A. He spends all his income on the product only
- B. He spends more on one and less on the other
- C. Marginal utility of the two goods are equalised
- D. Not only the marginals utility of the two goods are equalised, but also the marginal utility of each good is equal to its price.
|
| 7 |
To show data in tables, we must first |
- A. reduce data
- B. expand data
- C. classify data
- D. all of the above
|
| 8 |
______ is a science which is concerned with the collection, presentation, and interpretation of numerical data |
- A. Statistics
- B. Economics analysis
- C. Function
- D. None of these
|
| 9 |
Initial utility of a product is : |
- A. Highest
- B. Lowest
- C. Conatant
- D. None of them
|
| 10 |
Total utility is maximised when. |
- A. Marginal utility is zero
- B. Marginal utility falls
- C. Marginal utility rises
- D. Non of the above
|
