Question : Assertion (A): The demand curve shows the inverse relationship between the own price of a good and its quantity demanded.
Reason (R): Law of diminishing marginal utility advocates that consumer gets lesser satisfaction for each additional unit consumed

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 : Assertion (A): The price-demand curve has a downward slope.
Reason (R): Inverse relationship between price and demand is stated by the law of demand, holding all other parameters constant.

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 : Assertion (A): The price demand curve is negatively sloped.
Reason (R): Inverse relationship between price and demand is stated by the law of demand, holding all other parameters constant.

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 : Assertion (A): Currency money is also termed as Fiat money.

Reason(R): Under law, currency must be accepted for payment for all debts.

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, but 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 : Assertion: The law of diminishing marginal utility states that as a consumer consumes more of a good, the additional satisfaction derived from each additional unit of the good decreases.

Reason: This occurs because the consumer's needs and wants for the good are limited.

Option 1: Both the assertion and reason are true, and the reason is a correct explanation of the assertion.

Option 2: Both the assertion and reason are true, but the reason is not a correct explanation of the assertion.

Option 3: The assertion is true, but the reason is false.

Option 4: The assertion is false, but the reason is true.