Question # 1

What was the share of livestock to the GNP during 2005-06?

4.7percent

6.5percent

3.5percent

8.0percent

A firm is charging a different price for each unit purchased by a consumer.This is called:

First-degree price discrimination

Second-degree price discrimination

Third-degree price discrimination

None of the given options

Income elasticity show the relationship between:

Income and demand

Income and consumption

Income and price

Income and saving

As more of a good is consumed, then total utility typically:

Increases at a decreasing rate.

Decreases as long as marginal utility is negative

Decreases as long as marginal utility is positive

Is negative as long as marginal utility is decreasing.

When national income is increases:

Standard of living increases

Standard of living decreases

Remains same

Bad thing

For knowing the spending capacity of the household sector, we have to use the concept of:

National income

Personal income

Private income

Personal disposable income

NAT II Management Science Economy MCQs With Answers