Economics 2008 | Study Mode

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