11 Economics--1-Introduction to Micro economics-part-5

……………………. goods don’t directly satisfy the consumer.

• Capital

• Consumer

• Free

• Economic

The value of goods expressed in money terms is-------

• Revenue

• Market

• Price

• Cost

Alfred Marshall wrote “Principles of Economics” in------

• 1890

• 1776

• 1723

• 1923

Examples for perishable goods

• Television, furniture

• Table, chair

• Fish, fruits, flowers

• Vehicles, capital goods

The proportion of total expenditure incurred food items declines as total expenditure goes on increasing is-----

• Marshall’s law

• Samuelson’s law

• Adam smith’s law

• Engel’s law

Utility can be measured indirectly using the ‘Measuring rod of money’ is the statement of------

• Marshall

• Samuelson

• Robbins

• Frisch

scarcity is the gap between what ---------and what they are able to get.

• People wants

• People needs

• People satisfactions

• People consumption

Smith’s wealth definition, representing the ---------

• Neo-classical era

• Classical era

• new age

• Modern age

Marshall’s welfare definition, representing the ----------

• Classical era

• Modern age

• Neo-classical era

• Old age

______ is the assumption in economics that makes the economic laws hypothetical

• Other things remaining the same

• Time remaining the same

• Money remaining the same

• Wants to remain the same