Basics Of Economics Set 8
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This set of Basics of Economics Multiple Choice Questions & Answers (MCQs) focuses on Basics Of Economics Set 8
Q1 | The want satisfying power of a commodity:
- satisfaction
- utility
- value
- marginal utility
Q2 | Supply curve represents -------- relationship between quantity andprice.
- direct
- inverse
- either direct or inverse
- none of the above
Q3 | Laws of return shows ---------production function.
- short-term
- medium term
- long term
- annual
Q4 | In classical theory the level of employment is a function of:
- price level
- money wage rate
- quantity of money
- real wage rate
Q5 | Consumption of capital good in the process of production is called as:
- capital consumption
- depreciation
- decay of capital
- none of the above
Q6 | Economic Laws are:
- statement of tendencies
- exact and predictable
- definite
- none