Question : The Psychological Law of Consumption states that

Option 1: proportionate increase in consumption is less than a proportionate increase in income.

Option 2: increase in income is equal to an increase in consumption.

Option 3: increase in consumption is greater than the increase in income.

Option 4: consumption does not change with a change in income.

Question : Which of these is not a characteristic of durable goods?

Option 1: They are capable of repetitive use.

Option 2: They are not extinguished by immediate consumption.

Option 3: They are meant for repetitive purchases.

Option 4: They have a relatively long life.

Question : Final goods are divided into:

Option 1: raw materials and semi-finished goods

Option 2: single goods and composite goods

Option 3: consumption goods and capital goods

Option 4: war goods and civilian goods

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 : Which of these is related to public goods?

Option 1: The principle of excludability applies to its consumption.

Option 2: There is a clear link between the producer and consumer, which occurs through the payment process.

Option 3: Its consumption is rivalrous.

Option 4: There is a possibility of free ridership in its consumption.