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- 1. Multiple Choice
The wish to have something is_
Desire
Want
Need
Demand
- 2. Multiple Choice
Effective efforts put to acquire something will be_
Want
Desire
Need
Demand
- 3. Multiple Choice
Willingness to pay for the want is_
Need
Desire
Demand
Show off
- 4. Multiple Choice
Things require to survive are categorised as_
Demands
Wants
Needs
Desires
- 5. Multiple Choice
Which is NOT a classification of Wants
Necessities
Luxuries
Comforts
Secondary
- 6. Multiple Choice
Which is NOT a feature of Wants
Recur
Competitive
Complementary
Limited
- 7. Multiple Choice
Services are _
Tangible
Non-tangible
- 8. Multiple Choice
Consumption is the direct use of goods and services in satisfying human wants
True
False
- 9. Multiple Choice
Sustainable development means not to leave resources for future use
False
True
- 10. Multiple Choice
Utility is the property of quality common to all commodities wanted by a person
Agree
Disagree
- 11. Multiple Choice
Which is NOT a feature of Utility
Subjective
Measurable
Relative
No moral or legal connotations
- 12. Multiple Choice
Which is NOT a feature of Utility
Subjective
Measurable
Relative
No moral or legal connotations
- 13. Multiple Choice
If we eat three mangoes at dinner time, the total amount of satisfaction obtained is called_
Total Utility
Marginal Utility
- 14. Multiple Choice
The utility which results from a unit increase in consumption
Marginal utility
Total utility
- 15. Multiple Choice
The concept of marginal utility decreasing with the increase in amount consumed of a commodity is called
Diminishing marginal returns
Diminishing marginal utility
Diminishing total utility
Diminishing total returns
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