Question # 1

MU curve

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rises left to right

is always vertical

falls left to right

is always horizontal

The value of a product depends upon.

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The number of dollars

The numbers of dollars which can be given in exchange for it

The current exchange rate.

None of them

General price level and real income of the people are correlated with each other

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Negatively

Positovely

Normally

Sub normally

the term marginal in economics means

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unimportant

additional

the minimum unit

just barely passing

The goods used to produce income or wealth are.,

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Consumer goods

Manufactured goods

Merit goods

Capital goods

Diminishing marginal utility is the basis of

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law of supply

law of demand

laws of returns

none of the above

The price of an non-economic good is:

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Very low

Very high

Zero

Negative

The number of goods and services which one unit of a product can command in exchange for it is its.

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Value of money

Value in exchange

Price

Utility

Equilibrium of consumer is explained by

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negative utility

positive utility

marginal utility

profit

Utility and usefulness are

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equal

different

opposite

unrelated

In economics, one or more persons sharing common consumer budget is called

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social group

consumer union

organisation

household

Utility of a product depends upon

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Knowledge

Ownership

Form

All of them

A consumer's spending is restricted because of

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marginal utility

budget constraint

demand curve

unlimited wants

Goods which can satisfy human wants are.

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Consumer goods

Capital goods

Social goods

Public goods

Economic wants.

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Can unlimited

Capital goods

Social goods

Public goods

Indifference curves are convex to the origin because

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two goods are perfect substitutes

two goods are imperfect substitutes

two goods are perfect complementary goods

goods area jointly demanded

A consumer in equilibrium when marginal utilities are

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minimum

highest

equal

increasing

Only those goods are priced in the market which have:

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Utility

Sacrcity

Transferability

All of the above

Power of a product which can satisfy human want is.

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Utility

Total utility

Average utility

Marginal utility

When marginal is negative, it must be true that

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the average is negative

the average is decreasing

the total is negative

the total is decreasing

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