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Questions and Answers
What is the main objective of a socialist economy?
What is the main objective of a socialist economy?
- Maximum Public Welfare (correct)
- Earning Profit
- Maximum Production
- Economic Freedom
To what is utility related?
To what is utility related?
- Production
- Morality
- Profitability
- Satisfication of human wants (correct)
When total utility is fixed, what is the marginal utility?
When total utility is fixed, what is the marginal utility?
- Negative
- Zero (correct)
- Positive
- Qualitative
Which of the following are complementary goods?
Which of the following are complementary goods?
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What does price elasticity of demand measure?
What does price elasticity of demand measure?
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