
Mid term revision eco
Authored by Urmila M S
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University
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40 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following economists proposed the definition of economics that focused on the welfare of man?
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements is true with respect to action required during scarcity? a) Avoid trade offs b) Allocate resources efficiently
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
There are two investment options. Option A where you have a cost of 80000 and get a return of 100000. Option B where you have no cost but you get a return of 10000. What is the opportunity cost of choosing option A?
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements is not true?
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Total utility for consuming 5 glasses of lassi is given as 90, 160, 210, 230 and 240. Calculate the marginal utility derived from the 3rd glass of lassi.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Find the odd one out with respect to the utility graph.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Mr. Akash went to buy a watch. His budget was Rs. 8000. The three models available were Titan - Rs. 7000, HMT - Rs. 3500 Fossil - Rs. 20000. Mr. Akash did not opted HMT over the others which signifies
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