Economics | Study Mode

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Question 1
A
Wher to produce 
B
for whom to produce 
C
how to produce 
D
what to produce 
Explanation.
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Correct Option:
C
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Question 4
A
elastic 
B
unitary elastic 
C
perfectly inelastic 
D
perfectly elastic 
Explanation.
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Correct Option:
A
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Question 5
A
equality of the ratio of marginal utilities and the ratio of prices 
B
equality of the ratio of average utilities and the ratio of prices 
C
equality of the marginal utility to total utility ratio for both commodities 
D
total utility and marginal utility must be zero 
Explanation.
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Correct Option:
A
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Question 6
A
observation with the highest frequency 
B
average of two middle numbers 
C
item that occupies the middle position 
D
difference of two extreme values 
Explanation.
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Correct Option:
A
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Question 8
A
bought at given price at a time 
B
supplied at given prices at a time 
C
produced at given prices at a time 
D
reserved for future consumption 
Explanation.
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Correct Option:
A
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Question 9
A
less as the marginal utility falls 
B
more as the marginal utility falls 
C
less as the total utility falls 
D
more as the average utility falls 
Explanation.
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Correct Option:
C
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Question 10
A
derived 
B
composite 
C
joint 
D
competitive 
Explanation.
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Correct Option:
C
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