Question : Which of the following are the elements of economic development?
A: Physical capital
B: Human capital
C: Technology

Option 1: Only A correct

Option 2: Only A and B are correct

Option 3: Only B and C are correct

Option 4: All are correct

Question : Which of the following describes the issue with the development of human capital?
A: One of India's biggest issues with human capital production is the country's growing population.
B: One of India's biggest issues with human capital building is brain drain.
C: One of India's biggest issues with human capital building is its low academic standards.

Option 1: Only option a is correct

Option 2: Only option b is correct

Option 3: B and C are correct.

Option 4: All of the above are correct.

Question : The cross-price elasticity of demand is used to determine whether:-
a: Product is an inferior or normal good
b: A product is a necessity or a luxury
c: Two products are substitutes or complements

 

Option 1: Only A is correct

Option 2: Only A and B are correct 

Option 3: Only C correct

Option 4: Only B and C are correct

Question : Which of the following is the assumption of the law of demand?
A: The commodity's price should not change.
B: The quantity requested should not change.
C: Substitute prices should not change.

Option 1: Only A correct 

Option 2: B and C are correct

Option 3: Only C correct

Option 4: A, B, and C all are correct.

Question : Because of the following, an individual demand curve slopes downward to the right:
A: The application of the law of diminishing marginal utility
B: The substitution effect of a price decrease
C: Income impact of price decrease

Option 1: Only A correct

Option 2: Only B correct

Option 3: Only B and C correct

Option 4: A, B and C all are correct