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Economics MCQS with Answers 1st Year
This is a tool in economic studies
A ______ is something which is measurable and can take on different values
Both a and b
None of these
Which is the general form of quadratic equation
None of these
ax2+bx +c = 0
x2-x-20 = 0
x2– x -c =0
Who introduced indifference curves to explain consumer’s beghavior
If we plot the equation y = 20 +3x, its slope is
The maintain social status in life, a person requires.
Comforts of life
All of them
Luxuries of life
Bare necessities of life
In mathematics which letters at the end of alphabet are used to represent variables
Initial utility of a product is :
None of them
The relationship between two variables that move in the same direction is called
According to law of equi-marginal utility a consumer will maximises his total utility when
He spends more on one and less on the other
He spends all his income on the product only
Marginal utility of the two goods are equalised
Not only the marginals utility of the two goods are equalised, but also the marginal utility of each good is equal to its price.
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