| 1 |
Human wants are |
- A. one thousand
- B. few
- C. innumerable
- D. countable
|
| 2 |
Utility is most closely related to the term |
- A. useful
- B. useless
- C. necessary
- D. satisfaction
|
| 3 |
A consumer in equilibrium when marginal utilities are |
- A. minimum
- B. highest
- C. equal
- D. increasing
|
| 4 |
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
|
| 5 |
.Which one is not an economic want. |
- A. Want for food
- B. Want to be a doctor
- C. Want to fall in love
- D. Non of the above
|
| 6 |
the term marginal in economics means |
- A. unimportant
- B. additional
- C. the minimum unit
- D. just barely passing
|
| 7 |
Rotten eggs are |
- A. free good
- B. economic good
- C. service
- D. wealth
|
| 8 |
When MU is positive, TU |
- A. increases
- B. decreases
- C. remains constant
- D. is maximum
|
| 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 |
Food, Shelter and clothing are: |
- A. Necessities
- B. Comfort
- C. Luxuries.
- D. None of three
|