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Question: 
  Diminishing marginal utility is the basis of:

1.Law of supply

2.Law of demand

3.Law of returns

4.None of the above

Posted Date:-2021-08-18 04:28:25

Question: 
  Utility and usefulness are:

1.Equal

2.Different

3.Similar

4.Unrelated

Posted Date:-2021-08-18 04:28:25

Question: 
 Human wants are:

1.One thousand

2.Few

3. Innumerable

4.Countable

Posted Date:-2021-08-18 04:28:25

Question: 
 Indifference curves are convex to the origin because:

1.Two goods are perfect substitutes

2.Two goods are imperfect substitutes

3.Two goods are perfect complementary goods

4.None of the above

Posted Date:-2021-08-18 04:28:25

Question: 
 Rotten eggs are:

1.Free good

2.Economic good

3.Service

4.Wealth

Posted Date:-2021-08-18 04:28:25

Question: 
 Utility is most closely related to the term:

1.Useful

2.Useless

3.Necessary

4.Satisfaction

Posted Date:-2021-08-18 04:28:25

Question: 
 When MU = 0 TU is:

1.Minimum

2.Maximum

3.Laws of return

4.None of the above

Posted Date:-2021-08-18 04:28:25

Question: 
A consumer is in equilibrium when marginal utilities are:

1.Minimum

2.Highest

3.Equal

4.Increasing

Posted Date:-2021-08-18 04:28:25

Question: 
A consumers spending is restricted because of:

1.Marginal utility

2. Budget constraint

3.Demand curve

4.Utility maximisation

Posted Date:-2021-08-18 04:28:25

Question: 
Demand curve slopes downward because of the law of:

1. Consumer equilibrium

2.Utility maximisation

3.Utility minimisation

4.Diminishing marginal utility

Posted Date:-2021-08-18 04:28:25

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

1.Business firm

2.Gathering

3.Organisation

4.Household

Posted Date:-2021-08-18 04:28:25

Question: 
Law of Equi-marginal Utlity is a law of:

1. Production of wealth

2.Consumption of wealth

3.Distribution of wealth

4.Exchange of wealth

Posted Date:-2021-08-18 04:28:25

Question: 
Law of substitution is another name for law of:

1.Law of Diminishing MU

2.Law of Equi-MU

3. Law of Demand

4.Satisfaction

Posted Date:-2021-08-18 04:28:25

Question: 
Quality of a commodity that satisfies some human want or need is called:

1.Service

2.Demand

3.Utility

4.Efficiency

Posted Date:-2021-08-18 04:28:25

Question: 
The term marginal in economics means:

1.Unimportant

2.Additional

3.The minimum unit

4.Just barely passing

Posted Date:-2021-08-18 04:28:25

Question: 
When marginal is negative it must be true that:

1.The average is negative

2.The average is decreasing

3.The total is negative

4.The total is decreasing

Posted Date:-2021-08-18 04:28:25

Question: 
When MU is positive TU:

1.Increases

2.Decreases

3.Remains constant

4.Is highest

Posted Date:-2021-08-18 04:28:25

Posted on by R4R Team

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