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
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