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 : Which law states that with constant taste and preference, the proportion of income spent on food stuff diminishes as income increases?

Option 1: Say's Law

Option 2: Griffin's Law

Option 3: Gresham's Law

Option 4: Engel's Law

Question : Which law was developed in the 1600s to describe that any force applied to a confined fluid is transmitted equally in all directions, regardless of the shape of the container?

Option 1: Magnus's law

Option 2: Graham's law

Option 3: Pascal's law

Option 4: Torricelli's law

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 : Which of these is not a part of the classification of economic activities carried out in an economy?

Option 1: Production

Option 2: Consumption

Option 3: Distribution

Option 4: Law and order