Q:

According to the law of diminishing marginal utility, as the amount of a good consumed increases, the marginal utility of that good tends to

A) improve	B) diminish
C) remain constant	D) first diminish and then improve

Answer & Explanation Answer: B) diminish

Explanation:

Economists use the concept of marginal utility to measure happiness and pleasure and how that affects consumer decision making. They have also identified the law of diminishing marginal utility, which means that the first unit of consumption of a good or service has more utility than the next units of consumption.Hence, the marginal utility of the good diminishes as the amount of good consumed increases.

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Filed Under: Indian Economy
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Q:

The economic way of thinking stresses that

A) incentives matter--individuals respond in predictable ways to changes in personal costs and benefits.	B) changes in personal costs and benefits generally fail to exert much impact on behavior.
C) if a good is provided by the government, its production will not consume valuable scarce resources.	D) if one individual gains from an economic activity, then someone else must lose and in the same proportion.

Answer & Explanation Answer: A) incentives matter--individuals respond in predictable ways to changes in personal costs and benefits.

Explanation:

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Q:

"The General Equilibrium Analysis" was developed by

A) Marshall	B) Ricardo
C) Walras	D) Adam Smith

Answer & Explanation Answer: C) Walras

Explanation:

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Q:

In the following question, a sentence has been given in Direct/Indirect speech. Out of the four alternatives suggested, select the one which best expresses the same sentence in Indirect/Direct speech.
“I‘m going to the gym now,” said Param.

A) Param said that he is going to the gym then.	B) Param said that he has gone to the gym then.
C) Param said that he had gone to the gym then.	D) Param said that he was going to the gym then.

Answer & Explanation Answer: D) Param said that he was going to the gym then.

Explanation:

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Filed Under: English

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Q:

In the following question, the sentence given with blank to be filled in with an appropriate word. Select the correct alternative out of the four and indicate it by selecting the appropriate option.
Don’t loiter _____ the corridor.

A) around	B) off
C) of	D) at

Answer & Explanation Answer: A) around

Explanation:

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Q:

In this section, each of the following sentences has a blank space and four words are given below it. select the word or group of words you consider most appropriate for the blank space and indicate your response on the Answer Sheet accordingly.

He _________ the role of the organization in creating environmental awareness among the people.

A) collaborated	B) commanded
C) contrasted	D) commended

Answer & Explanation Answer: D) commended

Explanation:

Commended, commended means appreciated. Collaborated, commanded and contrasted are out of context. Collaborated means to work jointly with others. Commanded mean to direct authoritatively. Contrasted means compared or appraised in respect to differences.

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Filed Under: English
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Q:

The Indira Point, the southern point of India, is situated in the ___ tip of Great Nicobar Island.

A) eastern	B) western
C) northern	D) southern

Answer & Explanation Answer: D) southern

Explanation:

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Filed Under: Indian Geography
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Q:

Which of the following is NOT a radioactive element?

A) Uranium	B) Plutonium
C) Titanium	D) Thorium

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