Question : Directions: There is a family of six persons P, Q, R, S, T and U. They are a Lawyer, Doctor, Teacher, Salesman, Engineer and Manager. There are two married couples in the family. S, the Salesman is married to the lady Teacher. The Doctor is married to the Lawyer. U, the Manager, is the son of Q and brother of T. R, the Lawyer, is the daughter-in-law of P. T is the unmarried Engineer. P is the grandmother of U. What is the profession of P?

Option 1: Lawyer

Option 2: Engineer

Option 3: Doctor

Option 4: Teacher

Question : Directions: Mukesh's sister is the wife of Ramesh. Ramesh is Rani's only brother. Ramesh's father is Madhur. Sheetal is Ramesh's paternal grandmother. Rema is Sheetal's daughter-in-law. Ronit is Rani's brother's son. How is Ronit related to Mukesh?

Option 1: Son

Option 2: Nephew

Option 3: Brother

Option 4: Brother-in-law

Question : Directions: A # B means A is the husband of B,
A @ B means A is the sister of B,
A & B means A is the mother of B,
A % B means A is the son of B.
If S # Z @ R % K # J & T # N, then which of the following statements is NOT correct?

Option 1: K is the father-in-law of N

Option 2: R and T are brothers

Option 3: Z is the sister of T

Option 4: J is the mother of S

Question : Assertion: The demand curve demonstrates the inverse relationship between a good's own price and the number of units sought.
Reason: According to the law of diminishing marginal utility, consuming more units leads to lower consumer satisfaction.

Option 1: Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation
of Assertion (A)

Option 2: Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation
of Assertion (A)

Option 3: Assertion (A) is true but Reason (R) is False

Option 4: Assertion (A) is False but Reason (R) is True

Question : Marshall established the law of Equimarginal Utility:

Option 1: Related to money
 

Option 2: Related to goods

Option 3: Both of the above

Option 4: All of the above

Question : According to the law of diminishing marginal utility, as a consumer consumes more of a good:

Option 1: The total utility derived from the good increases at a decreasing rate.

Option 2: The marginal utility derived from the good increases at a decreasing rate.

Option 3: The total utility derived from the good decreases at a decreasing rate.

Option 4: The marginal utility derived from the good decreases at a decreasing rate.

Question : Which function performed by labels is highlighted in the given statement?
Statement: It provides information required by law.

Option 1: Describe the product and specify it's contents.

Option 2: Provide information required by law 

Option 3: To help in grading of the products

Option 4: Helps in  promotion of products.

Question : Which of the following is the basis of diminishing marginal utility?

Option 1: Law of supply

Option 2: Laws of return

Option 3: Law of demand

Option 4: None of the above

Question : Directions: Babita is Ajay's wife and Chiranjiv is Divya's father. If Ajay's mother-in-law is the wife of Divya's grandfather, then what is the relationship of Babita with Chiranjiv's wife?

Option 1: Sister-in-law

Option 2: Sister

Option 3: Cousin

Option 4: Nephew

Question : Which of the following statement is correct?
Statement 1: Labeling is used as an ineffective sales promotional tool.
Statement 2: Labelling is to provide statutory warning required by law.
 

Option 1: Both are true 

Option 2: Both are false

Option 3: Statement 1 is true and statement 2 is false.

Option 4: Statement 1 is false and statement 2 is true.