| 1 |
.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
|
| 2 |
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
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| 3 |
Food, Shelter and clothing are: |
- A. Necessities
- B. Comfort
- C. Luxuries.
- D. None of three
|
| 4 |
The price of an non-economic good is: |
- A. Very low
- B. Very high
- C. Zero
- D. Negative
|
| 5 |
When MU=0, TU is |
- A. minimum
- B. maximum
- C. increasing
- D. decreasing
|
| 6 |
Economic wants. |
- A. Can unlimited
- B. Capital goods
- C. Social goods
- D. Public goods
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| 7 |
A consumer in equilibrium when marginal utilities are |
- A. minimum
- B. highest
- C. equal
- D. increasing
|
| 8 |
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
|
| 9 |
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
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| 10 |
Only those goods are priced in the market which have: |
- A. Utility
- B. Sacrcity
- C. Transferability
- D. All of the above
|