5 Questions
What is the main objective of a socialist economy?
Maximum Public Welfare
To what is utility related?
Satisfication of human wants
When total utility is fixed, what is the marginal utility?
Zero
Which of the following are complementary goods?
Car & Petrol
What does price elasticity of demand measure?
Change in demand due to change in price
Test your knowledge of economic systems and utility with this quiz. Choose the correct options for questions related to socialist economy objectives, utility, marginal utility, and complimentary goods.
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