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Question : Which of the following statement is correct?
Statement 1: Price of goods and services are expressed in monetary terms.
Statement 2: Price maybe called by various names such as fare,tuition fee,rent,salary and wage.
 

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.


Team Careers360 8th Jan, 2024
Answer (1)
Team Careers360 24th Jan, 2024

Correct Answer: Both are true 
 


Solution : Price of goods and services are expressed in monetary terms. Price maybe called by various names. For example price for transportation is known as fare, price for education is known as tuition fee, price for executive job is known as labour, price for apartment is known as rent, price for labour is known as wage, etc.

Hence, option A is correct.
 

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