Economics MCQS with Answers 1st Year
Law of equimarginal utility is also called.
Law of maximum social benefits
Law of maximum satisfaction
Law of substitution
Law of economy
Variable are represented by symbol
______ is a science which is concerned with the collection, presentation, and interpretation of numerical data
None of these
Law of diminishing marginal utility provides basis for:
Law of demand
Law of variable proportions
Laws of returns
Law of supply
Law of equi marginal utility provides basis for.
Law of diminishing returns
Economy in taxation
Law of constant returns
Equal distribution of wealth
A contour line which slopes downward from left to right and yield equal level of satisfaction to consumer with the given income is.
An indifference curve
Positively sloped Curve
None of the above
Negatively slop curve
Total utility is maximised when.
Marginal utility rises
Marginal utility is zero
Non of the above
Marginal utility falls
A variable is a symbol which, during a discussion, may assume different values or a set of admissible values. This is the definition of
The first law of consumption was presented by.
if X and Y scales are the same a line making 45-degree angle with X-axis has slope
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