Economics - Study Mode
[#321] The difference in return between a chosen investment and a necessary one passed up in the law of variable proportion indicates:
Correct Answer
(D) Negative returns
[#322] For a commodity giving large consumer's surplus, the demand will be
Correct Answer
(A) Less elastic
[#323] Put these concepts in chronological order of their development. 1. Law of demand 2. Law of indifference 3. Law of DMU 4. Revealed preference theory 5. Indifference curve
Correct Answer
(C) 1, 3, 2, 5, 4
[#324] In a market economy, the allocation of resources between different productive activities is determined mainly by:
Correct Answer
(C) The pattern of consumer expenditure
[#325] The central statistical organization was
Correct Answer
(D) On 2 nd May, 1951