Questions

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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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:

In the following question, some part of the sentence may have errors. Find out which part of the sentence has an error and select the appropriate option. If a sentence is free from error, select 'No Error'.

 

I am better(A)/adapted to the(B)/climate than you.(C)/No error(D)

 

A) A B) B
C) C D) D
 
Answer & Explanation Answer: D) D

Explanation:
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Q:

In the following question, out of the given four alternatives, select the one which best expresses the meaning of the given word.

 

Obstreperous

 

A) Noisy B) Quiet
C) Restrained D) Silent
 
Answer & Explanation Answer: A) Noisy

Explanation:
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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.

 

She ______ farewell to her parents.

 

A) bid B) call
C) told D) shout
 
Answer & Explanation Answer: A) bid

Explanation:
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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.

 

The theoretical framework is finished by identifying indicators to be used in the ______ of the success of such policies.

 

A) evaluation B) completion
C) formation D) rotation
 
Answer & Explanation Answer: A) evaluation

Explanation:
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Q:

In the following question, a sentence has been given in Active/Passive voice. Out of the four alternatives suggested, select the one which best expresses the same sentence in Passive/Active voice.

 

I have flown this plane for seven years.

 

A) This plane is flying me for seven years. B) I am flying this plane for seven years.
C) Seven years have happened since I have been flying this plane. D) This plane has been flown by me for seven years.
 
Answer & Explanation Answer: D) This plane has been flown by me for seven years.

Explanation:
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Q:

In the following question, some part of the sentence may have errors. Find out which part of the sentence has an error and select the appropriate option. If a sentence is free from error, select 'No Error'.

 

Her behaviour (1)/ around him (2)/ was a little oddly. (3)/ No error (4)

 

A) 1 B) 2
C) 3 D) 4
 
Answer & Explanation Answer: C) 3

Explanation:
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