Question : Consumer's surplus is the highest in the case of :
Option 1: Durable goods.
Option 2: Luxuries .
Option 3: Comforts .
Option 4: Neccessities .
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Correct Answer: Neccessities .
Solution : Correct Answer is Neccessities .
The market price of goods is significantly below what consumers would ultimately be willing to pay when there is a high consumer surplus. The level of consumer surplus is highest when it comes to necessities because consumers are willing to pay a very high price for something that is necessary for their survival. High levels of competition, advancements in technology, and producer effectiveness frequently lead to this.
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Question : Plant and machinery are
Option 1: Producer's goods .
Option 2: Consumer's goods .
Option 3: Distributor's goods
Option 4: Free goods .
Question : The law of demand is based on:
Option 1: Manufacturer's preference
Option 2: Seller's preference
Option 3: Supplier's preference
Option 4: Consumer's preference
Question : Directions: In the question, a part of the sentence is in bold. Below are given alternatives to the bold part at (1), (2) and (3) that may improve the sentence. Choose the correct alternative. In case no improvement is needed, your answer is (4).
He said, 'Let the show begins'.
(1) 'Let the show to begin'
(2) 'Let's the show begin'
(3) 'Let the show begin'
(4) No Improvement
Option 1: (1)
Option 2: (2)
Option 3: (3)
Option 4: (4)
Question : Directions: T is the mother of S's father. U is the wife of S. V is the only son of W who is married to T. X is the daughter of U. Y is the brother of X and married to Z. How is S related to Z?
Option 1: Husband's mother
Option 2: Husband's father
Option 3: Wife's mother
Option 4: Wife's brother
Question : 'Juno ' is the name of NASA's mission to
Option 1: Saturn
Option 2: Mars
Option 3: Jupiter
Option 4: None of these
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