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Question 1
A
command economy 
B
traditional economy 
C
market economy 
D
feudal economy 
Explanation.

No official Explanation yet!

Correct Option:
C

Question 2
A
scale of preference and choice 
B
opportunity cost and choice 
C
wants and means 
D
opportunity cost and scale of preference 
Explanation.

No official Explanation yet!

Correct Option:
B

Question 3
A
deductive reasoning 
B
inductive reasoning 
C
normative reasoning 
D
positive reasoning 
Explanation.

No official Explanation yet!

Correct Option:
B

Question 4
A
4.1 
B
67.2 
C
82 
D
91.8 
Explanation.

No official Explanation yet!

Correct Option:
B

Question 5
A
a change in supply 
B
a change in the quantity supplied 
C
an increase in the quantity supplied 
D
a increase in the quantity supplied 
Explanation.

No official Explanation yet!

Correct Option:
B

Question 6
A
the price of the goods 
B
the price of other goods 
C
the income of consumers 
D
tastes and fashion 
Explanation.

No official Explanation yet!

Correct Option:
A

Question 7
A
0.5 
B
1.2 
C
2.5 
D
Explanation.

No official Explanation yet!

Correct Option:
A

Question 8
A
elastic 
B
perfectliy inelastic 
C
inelastic 
D
perfect elastic 
Explanation.

No official Explanation yet!

Correct Option:
C

Question 9
A
negative 
B
increasing 
C
zero 
D
decreasing 
Explanation.

No official Explanation yet!

Correct Option:
B

Question 10
A
total utility decreases as consumption increases 
B
marginal utility increases as consumption increases 
C
marginal utility deceases as consumption increase 
D
marginal utility decreases as consumption decreases 
Explanation.

No official Explanation yet!

Correct Option:
C

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