| 1 |
A consumer's spending is restricted because of |
- A. marginal utility
- B. budget constraint
- C. demand curve
- D. unlimited wants
|
| 2 |
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
|
| 3 |
Shopkeepers are also producers because in goods, they produce. |
- A. Form utility
- B. Time utility
- C. Use utility
- D. Place utility
|
| 4 |
the term marginal in economics means |
- A. unimportant
- B. additional
- C. the minimum unit
- D. just barely passing
|
| 5 |
Human wants are |
- A. one thousand
- B. few
- C. innumerable
- D. countable
|
| 6 |
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
|
| 7 |
Food, Shelter and clothing are: |
- A. Necessities
- B. Comfort
- C. Luxuries.
- D. None of three
|
| 8 |
The quality of commodity that satisfies some human want or need is called |
- A. service
- B. demand
- C. utility
- D. efficiency
|
| 9 |
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
|
| 10 |
Utility and usefulness are |
- A. equal
- B. different
- C. opposite
- D. unrelated
|