| 1 |
Equilibrium of consumer is explained by |
- A. negative utility
- B. positive utility
- C. marginal utility
- D. profit
|
| 2 |
Economic wants. |
- A. Can unlimited
- B. Capital goods
- C. Social goods
- D. Public goods
|
| 3 |
Law of substitution is another name for |
- A. law of diminishing MU
- B. law of equi-MU
- C. law of demand
- D. law of satisfaction
|
| 4 |
Utility is most closely related to the term |
- A. useful
- B. useless
- C. necessary
- D. satisfaction
|
| 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 |
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
|
| 7 |
One of the following will not be the income of a person. |
- A. Wages
- B. Profit
- C. Sccholarship
- D. Salary
|
| 8 |
Only those goods are priced in the market which have: |
- A. Utility
- B. Sacrcity
- C. Transferability
- D. All of the above
|
| 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 |
Law of Equi marginal utlility is a low of |
- A. production of wealth
- B. consumption of wealth
- C. distribution of wealth
- D. exchange of wealth
|