100+ TNPSC Indian Economy Mock Test - 2

Question: 6

Production, consumption and distribution questions are expected to be solved by _____ in capitalism.

(A) Flexible system

(B) Central planning authority

(C) Factors of production

(D) Market forces

Ans: D

Market forces

Question: 7

Law of demand is based on _____ experience.

(A) Actual

(B) Future

(C) Past

(D) Moral

Ans: A

Actual

Question: 8

_____ is means and consumption is the end.

(A) Distribution

(B) Public finance

(C) Exchange

(D) Production

Ans: D

Production

Question: 9

_____ means combination of two factors of production, which will be given equal of output.

(A) Law of variable proportions

(B) Returns to scale

(C) Iso-cost

(D) Iso-product

Ans: D

Iso-product

Question: 10

Single commodity consumption mode is _____

(A) Law of diminishing marginal utility

(B) Law of supply

(C) Law of equi marginal utility

(D) Production possibility curve

Ans: A

Law of diminishing marginal utility

Related Questions