Economics - Study Mode

[#1346] "The real price of everything, what every thing really costs to the man who wants to require it, is the toil and trouble of acquiring it. Who made this statement?
Correct Answer

(C) David Ricardo

Explanation

Solution: "The real price of everything, what every thing really costs to the man who wants to require it, is the toil and trouble of acquiring it. David Ricardo made this statement.

[#1347] Human wants are
Correct Answer

(C) Innumerable

Explanation

Solution: Human wants are Innumerable. With the passage of time and human progress, we find a marked growth in the number and variety of wants. Modern man has countless wants.

[#1348] TVC curve
Correct Answer

(A) Starts from origin

Explanation

Solution: TVC curve starts from origin. TVC starts from origin which shows TVC is zero when output is zero. TC curve is derived by adding the TFC and TVC curve.

[#1349] "Rent is a creation of value, not of wealth". Who made this observation?
Correct Answer

(B) David Ricardo

Explanation

Solution: "Rent is a creation of value, not of wealth". David Ricardo made this observation.

[#1350] These are kinds of rent EXCEPT
Correct Answer

(C) Mobility rent

Explanation

Solution: These are kinds of rent except mobility rent.