Economics MCQS with Answers 1st Year Chapter 2

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Economics MCQS with Answers 1st Year


The good which are used to produce more goods are.“
Public goods
Social goods
Capital goods
Consumer goods

When MU is positive, TU
remains constant
increases
is maximum
decreases

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

If a consumer moves upward along an indifference curve, his total utility
decreases
falls to zero
increases
does not change

The value of a product depends upon.
The numbers of dollars which can be given in exchange for it
The current exchange rate.
The number of dollars
None of them

The price of an non-economic good is:
Very low
Zero
Very high
Negative

A consumer’s spending is restricted because of
marginal utility
budget constraint
demand curve
unlimited wants

Equilibrium of consumer is explained by
negative utility
profit
marginal utility
positive utility

When MU=0, TU is
maximum
minimum
increasing
decreasing

Only those goods are priced in the market which have:
Transferability
Utility
All of the above
Sacrcity

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