Economics Weekly Assessment (jan 4)

The amount of satisfaction obtained from the consumption of a commodity at a
particular time is called

marginal utility

Correct Incorrect Correct answer

diminishing return

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total utility

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average utility

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what are inferior goods? These are goods

that are generally in short supply

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that are no longer in demand

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whose demand falls as income increase

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whose price falls as demand increases

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In the analysis of utility theory, the basis of demand is

marginal utility

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average utility

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fixed utility

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diminishing utility

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In the normal market situation , when the price of a commodity rises the

demand for the commodity will rise

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demand for the commodity will fall

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supply of the commodity will be constant

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supply of the commodity will fall

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when the quantity of a commodity supplied increases and the quantity demanded
decreases , there will be

a rise in price

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no change in price

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price fluctuation

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a fall in price

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For a monopolist, the average revenue (AR) curve is

above the total curve

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the same as the marginal cost curve

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above the marginal revenue curve

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the same as that of the perfect competitor

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The equilibrium level of output of a monopolist is determined at a point where

marginal cost equals average revenue

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marginal cost equals acerage cost

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marginal cost equals marginal revenue

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marginal revenue equals average cost

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The economic system in which the state takes the economic decision s through detailed planning is

Capitalism

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socialism

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traditional economic system

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mixed economic system

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A mixed economy combines the characteristics of both

planned and capitalist economies

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exchange and subsistence economies

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subsistence and planned economies

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capital and exchange economies

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which of the following is a form of tax evasion?

wrong declaration of earnings

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payment of flat rate tax

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constant change of employment

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low capacity utilization

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Economics Weekly Assessment (jan 4)

Economics Weekly Assessment (jan 4)

ola January 23, 2025

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