| 1 |
Utility and usefulness are |
- A. equal
- B. different
- C. opposite
- D. unrelated
|
| 2 |
The value of a product depends upon. |
- A. The number of dollars
- B. The numbers of dollars which can be given in exchange for it
- C. The current exchange rate.
- D. None of them
|
| 3 |
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
|
| 4 |
.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
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| 5 |
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
|
| 6 |
MU curve |
- A. rises left to right
- B. is always vertical
- C. falls left to right
- D. is always horizontal
|
| 7 |
Economic wants. |
- A. Can unlimited
- B. Capital goods
- C. Social goods
- D. Public goods
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| 8 |
When MU=0, TU is |
- A. minimum
- B. maximum
- C. increasing
- D. decreasing
|
| 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
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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
|