| 1 |
The quality of commodity that satisfies some human want or need is called |
- A. service
- B. demand
- C. utility
- D. efficiency
|
| 2 |
One of the following will not be the income of a person. |
- A. Wages
- B. Profit
- C. Sccholarship
- D. Salary
|
| 3 |
the term marginal in economics means |
- A. unimportant
- B. additional
- C. the minimum unit
- D. just barely passing
|
| 4 |
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
|
| 5 |
<strike>P</strike>ower of a product which can satisfy human want is. |
- A. Utility
- B. Total utility
- C. Average utility
- D. Marginal utility
|
| 6 |
A consumer's spending is restricted because of |
- A. marginal utility
- B. budget constraint
- C. demand curve
- D. unlimited wants
|
| 7 |
.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
|
| 8 |
The good which are used to produce more goods are.`` |
- A. Social goods
- B. Capital goods
- C. Consumer goods
- D. Public goods
|
| 9 |
A product which has value price in the market has. |
- A. Utility
- B. Scarcity
- C. Transferability
- D. All the three
|
| 10 |
Goods which can satisfy human wants are. |
- A. Consumer goods
- B. Capital goods
- C. Social goods
- D. Public goods
|